January,2018 Beijing— China’s two major bourses, the Shanghai and Shenzhen stock exchanges, issued warning notices on Tuesday evening, saying that they would punish companies that speculate on the so-called blockchain concept stocks and mislead investors, following sharp gains in share prices of nearly 30 Chinese listed companies, according to ShangHai Securities News.

The Shanghai Stock Exchange (SSE) claimed in a statement that it pays closed attention to the hype around the blockchain concept stocks and would take classified regulatory measures,including suspension inquirie and suspension cooling.

10 stocks surged in this market recently because of jumping on the blockchain bandwagon. Yi Jian Supply Chain Management Co., Ltd. (stock code: 600093) , for example, which links its business with blockchain technology, was suspended from trading on January 11 and 12 for scrutiny with reaching several limit up. This share price rose 10%, however, when it resumed trading yesterday.Surprisingly, its trading is suspended again today.

The SSE thinks blockchain technology is still in the initial development stage, which is difficult to underpin stable businesses. In order to cool down the mania, the Exchange will continue to monitor blockchain-related companies.

Meanwhile, the Shenzhen Stock Exchange published a similar statement on its official Wechat account, saying it would take supervision measures on 17 companies that develop blockchain-related operations, including share trade suspensions to examine the causes for unusual leaps in stock prices, clarification on companies’ involvement in blockchain technology and potential impacts of this technology on their overall business operations.

“ We would implement administrative punishments on any company which continues to ‘stir-frying’blockchain concept to boost their own share price and misguide investors, and those violators will be dealt with by the the China Securities Regulatory Commission (CSRC).” The Shenzhen Stock Exchange said.

It is estimated that around 14 Chinese listed companies have issued clarifications on their roles in blockchain technology, playing down their links to it. Both U9 Game and Hangzhou Sunyard System Engineering Co. said this week that their core business does not involve blockchain technology.

“Blockchain technology isn’t mature enough to contribute meaningfully to profits and regulators don’t want any speculation on so-called concept stocks,” said Dai Ming, a Shanghai-based fund manager with Hengsheng Asset Management Co. told Bloomberg.

The fact that the two stock exchanges gear up to scrutinize companies for blockchain links  shows Chinese authorities’ determination to stamp out any signs of mania, to maintain the market order and to protect the interests of investors.

Chinese regulators has also renewed their clampdown on cyrptocurrency frenzy earlier this week, according to Reuters. The crypto market tanks as a Chinese central bank official said Chinese government should ban centralised trading of virtual currencies as well as individuals and businesses that provide related services.