China China Securities Regulatory Commission (CSRC)
- Major shareholders of listed companies restricted to selling maximum 1% of their holdings in single entity via competitive bidding process every three months
- Major shareholders should file share sale plan 15 days in advance of sale
- Share sale regulation effective on January 9
CSRC says these new rules will ease panic sentiment
- Will help stabilise market expectations
- new rules do not mean China Securites Finance Corp. will exit the market
(China Securites Finance Corp. is the government support/buyer of stocks ... i.e. the PPT)
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