Investors Say CCP is a Fraud

ANCHOR: 
The Shanghai stock market has dropped more than 3000 points over the past six months. Many Chinese investors claim the Chinese Communist Party has been making fraudulent deals with state run companies. Let's take a look.
STORY: 
A Shanghai resident tells us that his friend was employed by a company that put stocks on the market right before it was about to go bankrupt.
[Shanghai Resident]:
"They think it's adventurous to sell in the stock market even though you're about to go bankrupt."

The Shanghai stock market has dropped more than 3000 points with a drop rate of 50%. To save the stock market, the CCP announced a new policy of reducing the rate of the stamp duty, which will start last week. Shanghai investors say this initiative will make no difference on the crippled stock market.
[Shanghai Stock Investor]: 
"Although the government has reduced the stamp duty rate, it is still inadequate. Many people are suffering. Many stock investors are having a vary hard life right now."
Chinese economist Yeliang Xia says that when the China Petrochemical Corporation entered the stock market it used its state-owned monopoly profits to encourage investors. Xia says the government is biased towards the state-owned enterprises because they get a profit from the shares.
Some investors claim they are trapped in the market.

[Shanghai Stock Investor]: 
"Many Shanghai investors' money had been trapped in the stock market. It's very hard to get their money back. So many investors are cursing and complaining. Some people even committed suicide. They lost everything! So they're in a very unstable situation. "
NTD, China.

Category:

News & Politics

Tags:

• ntd
• shanghai
• stock
• market
• invester
• economy
• CCP
• fraud
• bankrupt

[lianxiang]

The CCP will bring Shanghai to 10.000 points this year.