China Securities Regulatory Commission, Trading Rules of Shanghai and Shenzhen Stock Exchanges

Issued: August 31 2001
Effective: December 1 2001
Interpreting authority: The stock exchange concerned (Article 128)
Applicability: The Rules apply to transactions on the Shanghai Stock Exchange and Shenzhen Stock Exchange (Article 2).

Main contents: The Rules comprehensively set out the principles, methods and rules of stock trading on the relevant exchanges and the rights and obligations of parties to a transaction. Part Two of the Rules covers exchange facilities, membership, types of tradable securities, trading time, trade information and index calculation. Part Three deals with securities brokering and provides separate procedures for brokered and principal trading. Part Four concerns rules of transactions, including sizes of trading lots, units and limits of price movement, match of trade orders, determination of trade prices and time of settlement. Part Five includes rules for determining opening prices and closing prices, rules relating to listing, delisting and suspension and resumption of listing and rules concerning block trades. Part Six contains special rules for bond trading. Part Seven provides the procedures for handling abnormal transactions. Other parts address, respectively, trade disputes, trade charges and penalties for violation of the Rules (Parts Eight, Nine and Ten). With three specific major exceptions, which are related to quotation currency, settlement period and trade designation (Articles 57, 74 and 78), most of the rules apply to A shares and B shares alike.
Related legislation: PRC, Securities Law (Amended), OCt 27 2005, CLP 2006 No.1 p31 and Stock Exchange Administration Procedures, Aug 21 1996, CLP 1996 No.7 p9