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Chinese exec fined for insider trading

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The board chairman of Chinese pharmaceutical company Hunan Fangsheng Pharmaceutical Co., Ltd has been fined 600,000 yuan. (~€77,000/~$91,000) in an insider trading case. Chinese officials started investigating the company in June 2019 following a rise in Fangshen shares the previous April when the company announced it had signed a cooperation agreement with the government of Huize County, Yunnan, to develop hemp farming and processing operations. The company later admitted in a subsequent announcement that the project was still in the planning phase and faced uncertainty, causing Fangshen’s stock to fall sharply. 

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