China – SZSE Proposes Capital Market Rules

China – SZSE Proposes Capital Market Rules

On 24 May 2024, SZSE finalized listed company self-discipline supervision guidelines no. 18 - shareholders, directors, supervisors, senior managers reducing shareholdings.

  • Plus issued SZSE listed company self-discipline supervision guidelines no. 16 - transfer of shares by shareholders of ChiNext listed companies through inquiry and allocation.
  • Guideline no. 16 clarifies the application scope, participation requirements, procedures, information disclosure, and provisions of shares transfer by inquiry and allotment.
  • Introduce professional institutional investors and incremental funds with different shareholding purposes, investment strategies, and holding periods through inquiry transfer, and require the transferee not to reduce the shares within 6 months.
  • Issued guidelines for SZSE, China Securities Depository and Clearing Corporation shareholders of ChiNext listed companies transfer shares by inquiry and allotment.
  • The guidelines are effective from 24 May 2024.