The issues of definition, legal attribute and classification of market manipulation are the basis for adequately regulating, effectively punishing and efficiently preventing market manipulation.

This study is for the purpose of studying how to consummate the system of our civil liability in securities market manipulation under the background of intemationalization, and to protect the investors benefit.

In Chapter l,it points out that the manipulation of securities market is intrinsically a sort of fraudulent torts, by analyzing the legal nature of the manipulation in light of such basic theories as jurisprudence, civil law and commercial law.

The Analysis of Institutional Factors for Stock Market Manipulation in China;

By making the prices of securities deviate from value so as to affect the free flow of capital, the manipulation of securities market harms the nvestors interests as well as the market order, which will lead to the falling through of the securities market s function of realizing the optimization of resource distribution.