BEIJING, July 24 (Xinhua) -- China Securities Regulatory Commission (CSRC) invited from July 21 public opinions for its rules on optimizing specific short-term trading supervision, reported Xinhua Finance.
Specific short-term trading here refers to selling after buying or purchasing after selling of stocks or other securities convertible into equities of A-share market- or National Equities Exchange and Quotations-listed companies by their shareholders, directors, supervisors and senior management staff who own more than five percent of stocks in their respective listed companies within six months.
CSRC said formulation of the rules will help stabilize market expectation and improve the trading convenience so as to enhance the attractiveness of A-share market and further boost opening up of China's capital market.
Adhering to both opening up and regulatory supervision enhancement to maintain sound market order, CSRC voiced strict crackdown over illegal actions involving insider transactions in the drafting notification for the rules.
The opinion-seeking rules contain 17 articles which provide the applicable targets and securities of the specific short-term trading rules, the calculation standards of securities held by specific investors, no calculation of different types of securities, definition of specific short-term trading, exemption situations, and requirements for applicable institutions at home and abroad.
As the report said, the rules allow eligible overseas publicly-offered funds to apply for securities holdings calculation by products and exempt Hong Kong Securities Clearing Company Limited (HKSCC) from being the applicable target of the rules in trading under the Shanghai- and Shenzhen-Hong Kong Stock Connect programs. (Edited by Duan Jing with Xinhua Silk Road, firstname.lastname@example.org)