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Untraded shares
Untraded shares () or () refer to the shares of listed companies that are not allowed to be released by some of the investors within the lockup period. Since the split-share structure reform () was launched by the State Council of the People's Republic of China in 2005, some of the investors were not allowed to release their shares of the listed state-owned enterprises until the lockup period expired, so as to sustain the overall stock market.〔(Guidance Notes on the Split Share Structure Reform of Listed Companies )〕〔(Split-share structure reform pilot started in 2005 )〕 After the lockup period expires, the investors can choose to sell the shares and this may cause negative impacts to stock market from the selling pressure.〔(Asian Stocks Drop for Second Day on Profit Concern; Rio Falls )〕〔(China stocks fall on supply, earnings fears )〕
==See also==
*Economy of China
*Chinese financial system
抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』
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