Lock-up shares worth 51.5 bln yuan eligible for trade in China

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Shanghai Stock Exchange. (Photo: Reuters)

BEIJING, Dec. 21 (Xinhua) — Lock-up shares worth nearly 51.5 billion yuan (8.3 billion U.S. dollars) will become eligible for trade on China’s stock markets in the coming week.

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A total of 3.9 billion shares of 23 companies will be tradable on the Shanghai and Shenzhen stock exchanges.

Under China’s market rules, major shareholders of non-tradable stocks are subject to one or two years of lock-up before they are permitted to trade the shares.

These stocks will hit the market after Chinese shares realized remarkable performance in the past weeks, with the benchmark Shanghai Composite Index hit a 49-month high at 3,108.6 points on Friday.

Investors flocked to broker companies to open trading accounts, but China Securities Regulatory Commission warned of market risks and advised small investors to make rational decisions.

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