Listen to "Reality Check with Ben Swann" on Spreaker.

As Stocks Plunge, China Enacts Six-Month Ban on Stock Sales By Major Shareholders

As China suffers under a stock market crash that has been compared to the 1929 US crash that sparked the Great Depression, China's Securities Regulatory Commission announced on Wednesday that it is enacting an emergency ban on stock sales by investors with over 5% ownership in a company.

Must Read

Ben Swann Breaks Down ABC News Fake Video of Syria Massacre

Mainstream media outlets across the country have been rigorously covering the news of President Trump pulling troops out of...

John McAfee Wants Us to Wake Up

In episode 5 of Truth In Media with Ben Swann, John McAfee and I discuss the mass surveillance state,...

Is the Trump Whistleblower Really a Whistleblower? (ft. John Kiriakou & Thomas Drake)

The mysterious whistleblower at the center of the impeachment complaint against President Trump is being fiercely protected by government...
Barry Donegan
Barry Donegan is a writer, musician, and pro-liberty political activist living in Nashville, TN. Donegan served as Director-at-Large of the Davidson County Republican Party from 2009-2011 and was the Middle Tennessee Regional Coordinator over 30 counties for Ron Paul's 2012 Presidential Campaign. Follow him at facebook.com/barry.donegan and twitter.com/barrydonegan

As China’s stock exchanges plunge in a panic that has been likened to the 1929 US stock market crash that set off the Great Depression, Bloomberg is reporting that China’s Securities Regulatory Commission has enacted a six-month ban on sales of shares by investors who hold over a 5% stake in a listed company. Under the new policy, executives and directors of listed companies are also banned from selling their shares during the next six months.

There is a mood of panic in the market and a large increase in the irrational dumping of shares, causing a strain of liquidity,” read a Wednesday statement on the new policy by the Securities Regulatory Commission.

Deltec Asset Management LLC money manager Gregory Lesko told Bloomberg, “[The policy] may have a small impact in the short term, but like all market manipulation, there will be a price to be paid later.

- Newsletter -

Brian Jacobsen, chief portfolio strategist at Wells Fargo Funds Management, said, “The extent to which they can apply this [ban] to foreign ownership interest remains to be seen.”

According to The Financial Times, the Securities Regulatory Commission has stated that it will “deal sternly” with investors who violate the ban.

Meanwhile, the government-run China Securities Finance Corporation has been purchasing stocks directly using funds injected into the market by the People’s Bank of China in an effort to artificially prop up stock prices. Also, some Chinese stock exchanges are allowing particular companies to freeze sales of their shares. Bloomberg estimates that at least 1,331 companies have stopped trading so far.

The Telegraph’s Jeremy Warner characterized the Chinese stock market’s near-30 percent slide in just one month as “a loss of value roughly equivalent to the UK’s entire economic output last year.”

- Advertisement -

Featrued Sponsors

Holland Center

Holland Center is a day treatment program and medical clinic for children with autism.

Life Info App

Support TiM by using the app to get cash back at major retailers.

Pure VPN

Military grade privacy on all devices.
- Advertisement -

Latest News

video

Ben Swann Breaks Down ABC News Fake Video of Syria Massacre

Mainstream media outlets across the country have been rigorously covering the news of President Trump pulling troops out of...
video

John McAfee Wants Us to Wake Up

In episode 5 of Truth In Media with Ben Swann, John McAfee and I discuss the mass surveillance state, government’s control over citizens through...
video

Is the Trump Whistleblower Really a Whistleblower? (ft. John Kiriakou & Thomas Drake)

The mysterious whistleblower at the center of the impeachment complaint against President Trump is being fiercely protected by government officials and the mainstream media....
video

California’s New Vaccine Law Puts Kids In Danger

The new law in California which bans medical exemptions for vaccines puts thousands of children in harms way. The law prevents doctors from exempting...
video

California’s War on Vaccine Exemptions

In this episode, we’re discussing California's newly passed mandatory vaccine law known as SB 276. The proponents of SB 276 claim it will improve...
- Advertisement -

More Articles Like This