(File photo)

China's securities watchdog said it will mete out 100 million yuan, or 16 million U.S. dollars, in fines to 10 offenders involved in insider trading and spreading false information.

Zhang Xiaojun, spokesperson of China Securities Regulatory Commission, says two of the offenders have also been barred from the securities market for life.

"China Securities Regulatory Commission is to fine four cases of insider trading and one case of spreading false information. The fine is estimated at more than 100 million yuan. Two of the offenders in these cases are barred from the securities market for life. Related companies and personnel have been noticed according to legal procedures."

He says the offenders' activities hurt investors' legal interests, disrupted market order, and misled investors.

One the offenders was fined 200 thousand yuan for releasing fabricated information online, which called on investors to reduce stock holdings, in turn leading to panic on the stock market.

The regulatory commission pledged to continue cracking down on illegal activities in a high-pressure manner to maintain the fairness and openness of the market.