遏制大股東減持亂象 證監會出規範措施大綱

The Chinese securities watchdog has published stricter rules on selling stocks of Major shareholders as such activity triggered market volatility and stoked concerns of retail investors.
由於大股東減持引起了市場波動、引發了散戶投資者的擔憂，我國證券監管機構日前發佈了更嚴格的大股東減持規定。

The new policy, announced last Saturday, strengthens regulations on stock reductions through block trading, selling of non-public offering shares, information disclosure and equity transfers via agreements.
於上週六宣佈的這一新規，加強了對通過大宗交易減持股份、減持非公開發行股份、信息披露和股權協議轉讓的監管。

It came only one day after the China Securities Regulatory Commission said it has planned the revision to curb massive and irregular stock-selling of major shareholders.
中國證監會此前表示計劃修改相關規定，限制大股東大規模違規減持，僅一天後就發佈了新規。

The Shanghai and Shenzhen exchanges released detailed rules shortly after the regulator's move last Saturday.
上週六，上海、深圳證券交易所緊隨證監會之後出臺了相關細則。

For those who hold more than 5% of a company's stakes, their sales of non-public offering shares should not exceed 50% of their total holdings in a 12-month period after unlocking.
公司持股5%以上股東減持非公開發行股份，在解禁後12個月內不得超過其持股總量的50%。

Stocks transferred through block trading should not surpass 2% of a company's total shares in 90 days, and the transferees are not permitted to sell again within six months.
通過大宗交易方式轉讓股份，在連續90日內不得超過公司股份總數的2%。且受讓方在6個月內不得轉讓。

Major shareholders, supervisors and management should report and publicize their holding reduction plans 15 trading days in advance.
大股東、監事和管理人員應提前15個交易日報告並公告其減持計劃。