Beijing is far from being China's major exchange.
A Reuters Exclusive, November 27:
The Beijing Stock Exchange has de facto implemented a new policy that prevents major shareholders of companies listed on its bourse from selling stock, worried that such sales could douse a long-desired rally, three people familiar with the matter said.
The bourse, launched two years ago, was set up to help facilitate funding for innovative small companies, dubbed "little giants", but had languished due to lack of investor interest.
But the market's benchmark 50 Index (.CSI899050) has surged 46% this month on the back of recent measures by authorities. These include lowering the required amount of funds an investor must have in their stock account to invest, improving trading mechanisms and encouraging mutual funds to participate in the market.
A "major shareholder" is one with a stake of 5% or more and is required to make a public filing with the relevant stock exchange before selling shares, according to rules for China's bourses....
....MUCH MORE
Our China benchmark is the Shanghai/Shenzhen 300 which after getting to "up ~5%" from the recent lows has reversed. Via TradingView:
