Draft rules for GEB trading released

The Shenzhen Stock Exchange on Friday released the draft trading regulations for China's NASDAQ-like second board, or growth enterprise board (GEB), and has also started eliciting public opinion on the same.

The regulations have more or less specified the requirements on information disclosure, lockup period for shareholders, delisting and also highlighted the supervision on corporate governance and internal control.

"The regulations strengthen the information disclosure on the first trading day to avoid over-speculation and also has more strict requirements than the main board for delisting, all aimed at making the market more efficient," said Zhou Ming, vice-president, Shenzhen Stock Exchange.