When was the crime of speculation abolished?

1997 the criminal law was amended to abolish the crime of speculation.

On June 23rd, 2008, the State Council announced the decision to abolish some administrative regulations, and 92 administrative regulations were abolished or declared invalid. The crime of speculation and profiteering, as its name implies, is to obtain profits through short selling, hoarding, arbitrage and resale.

The original meaning of "speculation and profiteering" refers to the illegal act of seizing the opportunity and reselling it in order to reap huge profits. The concept of "speculation" in the history of contemporary China has a general meaning and uncertain content. The boundary is fuzzy and the scale is changeable. Its profit and loss, surplus and contraction depend on the changes of economic, political and social environment.

Legal basis:

Article 290 of the Criminal Law If the crime of gathering people to disturb social order is so serious that work, production, business, teaching, scientific research and medical treatment cannot be carried out and serious losses are caused, the ringleaders shall be sentenced to fixed-term imprisonment of not less than three years but not more than seven years; Other active participants shall be sentenced to fixed-term imprisonment of not more than three years, criminal detention, public surveillance or deprivation of political rights.

If the crime of gathering people to attack state organs prevents the work of state organs from being carried out and causes serious losses, the ringleaders shall be sentenced to fixed-term imprisonment of not less than five years but not more than ten years; Other active participants shall be sentenced to fixed-term imprisonment of not more than five years, criminal detention, public surveillance or deprivation of political rights.

If the crime of disturbing the working order of state organs repeatedly disturbs the working order of state organs, and fails to correct it after administrative punishment, resulting in serious consequences, it shall be sentenced to fixed-term imprisonment of not more than three years, criminal detention or public surveillance.

Crime of organizing and financing illegal assembly. If the crime repeatedly organizes and finances illegal assemblies of others and disturbs social order, if the circumstances are serious, it shall be punished in accordance with the provisions of the preceding paragraph.