Some people admit that contributed to the decline in China's stock exchanges

Chinese media announced some recognition on Monday following an investigation into the recent upheavals in the market, including a journalist who has been detained who admitted spreading false information that caused panic and chaos. One official from the China's securities regulator has admitted insider trading while four senior executives of China's biggest brokerage, CITIC Securities, also confessed to insider dealing, according to a report from the Xinhua news agency.

China seeks to prop up the stock exchange, which has fallen about 40% since mid-June on worries of economic slowdown and a sharp devaluation in the exchange rate of the yuan in mid-August. Among a number of policies, the government is also investigating the possibility of falsification of information on trade, the alleged short selling and other strategies are considered to hamper the recovery. Xinhua said Wang Xiaolu, a journalist at a leading business magazine Caijing, said he has written about China's stock exchanges based on what he heard and subjective conjecture which has caused losses to the state and investors beasr. Xinhua did not mention whether Wang wrote more than one article or the details of what he wrote.