Chinese regulators fined and reprimanded a construction company yesterday for violating stock market disclosure rules following weekend warnings that efforts to clamp down on insider trading and other manipulation would be "strengthened".

中国证监会称，已对浙江杭萧钢构股份有限公司(Zhejiang Hangxiao Steel Structure)处以40万元人民币（合5.2万美元）罚款，原因是该公司对一份安哥拉合同的披露方式不当，导致其股价上涨4倍。该公司的5位高级管理人员也遭到罚款。

The China Securities Regulatory Commission (CSRC) said it had fined Zhejiang Hangxiao Steel Structure Rmb400,000 ($52,000) over the way it disclosed a contract in Angola that led to a fivefold increase in its share price. Five senior managers were also fined.

此际，一些投资者一直预计监管部门将出台打击违法交易活动的规定。

The penalties come as some investors¹ have been predicting a crackdown on illegal trading activities.

对于中国股市过度投机的现象，政府方面的担忧正不断上升。过去2年，中国内地股市已上涨3倍。

Official concern is mounting about excessive speculation² in the Chinese stock market, which has seen share prices rise fourfold over the past two years.

然而，尽管证监会官员暗示，对杭萧钢构的调查可能仍将继续，一些分析师表示，这种罚金水平不足以阻止其他交易人员或上市公司违规。

However, although officials at the CSRC indicated that the investigation³ into Hangxiao could continue, some analysts⁴ said the level of the fine would not dissuade⁵ other traders or companies from breaking the rules.

中国证监会在处罚决定中表示，罚款的理由是杭萧钢构违反了信息披露规定，但并未提及更严重的违规行为。

The CSRC statement said the fine was for breaking rules on information disclosure but did not mention more serious abuses.

杭萧钢构是一家知名度相对较低的工程建筑公司。该公司3月份宣布，获得了一份在安哥拉建造住宅的合同，总价值达313亿元人民币--这一数字相当于该公司2005年营业额的逾20倍。

Hangxiao, a relatively⁶ unknown construction company, announced in March that it had won a Rmb31.3bn contract to build houses in Angola - a figure that was more than 20 times the company's annual turnover⁷ in 2005.

但中国证监会表示，该公司今年2月在一次会议上透露了该合同的细节，导致信息泄露到一些投资者手中，同时杭萧钢构在最终披露公告中并未明确指出合同期为5年。

However, the CSRC said the company revealed details of the contract at a meeting in February, which leaked to some investors and said Hangxiao did not specify⁸ the five-year timeframe of the contract in the eventual⁹ disclosure.

在有关该合同的消息泄露之前，该公司的股价在4元左右，而4月份最高曾达到19.7元。该公司股价昨日报收14.88元，不过分析师对于该合同的最终价值仍存在一些担忧。

The company's shares, which were trading at around Rmb4 before news of the contract began to leak, reached a peak of Rmb19.70 in April. They were trading at Rmb14.88 yesterday, despite some concerns among analysts about how much the deal would eventually be worth.

中国证监会还对该公司董事长单银木和总裁周金法分别处以20万元人民币罚款，另对其他三名高管分别处以10万元人民币罚款。

The CSRC also imposed a Rmb200,000 fine on Shan Yinmu, the company's chairman, and Zhou Jinfa, president, as well as Rmb100,000 penalties on three other executives.