---
title: "The China Securities Regulatory Commission regulates short-term trading to stabilize the market, to be implemented next month"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/278294847.md"
description: "The China Securities Regulatory Commission will implement the \"Several Provisions on the Regulation of Short-term Trading\" starting from April 7, aimed at stabilizing the market. The new regulations clarify the applicable subjects, types of securities, and the criteria for determining holding and trading timing, stipulating that major shareholders and directors, supervisors, and senior executives must comply with the short-term trading system when buying and selling. It also refines regulatory requirements, lists 13 exempt situations, and emphasizes that behaviors that exploit information advantages for illegal profits will not be exempted"
datetime: "2026-03-08T23:17:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/278294847.md)
  - [en](https://longbridge.com/en/news/278294847.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/278294847.md)
---

# The China Securities Regulatory Commission regulates short-term trading to stabilize the market, to be implemented next month

The China Securities Regulatory Commission has issued the "Regulations on the Supervision of Short-term Trading," which will take effect on April 7. The main content of the regulations includes: clarifying the applicable subjects and types of securities. It stipulates that when buying and selling, individuals who are major shareholders or hold positions as directors, supervisors, and senior executives, as well as those who do not hold such positions at the time of purchase but do at the time of sale, must comply with the short-term trading system. It specifies that "other securities with equity characteristics" include depositary receipts, convertible bonds, and other types of convertible securities, and refines the regulatory requirements.

The regulations clarify the standards for determining and calculating the timing of shareholding and trading. It stipulates that the timing for buying and selling is the date of securities transfer registration, and the shareholding ratio of major shareholders is calculated based on the total number of shares issued by the same listed company both domestically and internationally, with the number of securities held by foreign investors through different channels being aggregated, ensuring alignment with relevant regulations.

Based on the authorization of the "Securities Law" and in conjunction with regulatory practices, the regulations also specify 13 exempt scenarios, including the conversion of preferred shares, ETF subscriptions and redemptions, equity incentives related to grants, registrations, and exercise of rights, judicial enforcement, market-making transactions, and orders for repurchase due to fraudulent issuance, to support market development and regulatory needs. At the same time, it stipulates that scenarios involving the use of information advantages to obtain illegal benefits will not be exempted.

For situations where professional institutions manage and open separate securities accounts for products or portfolios, the shareholding will be calculated separately based on the unified account of the product or portfolio to facilitate trading and promote foreign investment and long-term capital entry into the market; at the same time, it clarifies that if the product or portfolio cannot achieve independent and standardized operation or if there are conflicts of interest and illegal activities, it will not be calculated separately

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