China Securities Regulatory Commission, Tentative Measures for the Administration of Reductions in Shareholdings by Shareholders of Listed Companies

Main contents:  These Measures shall govern reductions in the shareholdings of shareholders holding at least 5% of the shares, the de facto controller (hereinafter collectively referred to as "Major Shareholders"), directors, supervisors and senior executives of a listed company, as well as reductions by other shareholders of holdings of those shares issued by the company prior to its initial public offering (Article 2).