• SZSE proposed 6 business rules to improve the investment value of listed companies.
• Issued answers to reporters' questions about the newly-proposed business rules.
• Follows CHI CSRC April 2024 published opinions on promoting capital market.
• Also follows CHI CSRC April 2024 issued opinions to reform delisting system.

Reduction of Shareholding

• Published draft SZSElisted company self-discipline supervision guidelines no. 18 - shareholders, directors, supervisors, and senior managers reducing shareholdings.
• Strictly manage the reduction of holdings by major shareholders.
• If the shareholding ratio of a single shareholder is less than 5%, but the total shareholding ratio of persons acting in concert with them reaches more than 5%, the regulations on reduction of shareholdings by major shareholders shall be followed.
• If a major shareholder is involved in any violation of laws and regulations related to the listed company, they shall not reduce holdings within the corresponding period.
• Implement the 15 trading day pre-disclosure requirement for shareholding reduction.
• Clarify the rules for reduction of holdings in situations such as divorce, dissolution and separation, to prevent use of these methods to bypass regulations.

Consultation Period

• The deadline for comments: 19 April 2024.
• In April 2024, SSE proposed 7 rules to develop the capital market.