CHINA: SSE Proposes Revisions to the Trading Rules

Friday April 10 2026

On 10^th April 2026, Shanghai Stock Exchange (SSE) proposed draft revisions to the Trading Rules under the overall guidance of the China Securities Regulatory Commission (CSRC) to further optimize the securities trading mechanism, promote stable market operation, and better meet investor needs.

The main revisions include the following:

1. the scope of securities eligible for after-hours fixed-price trading has been expanded from STAR Market stocks to all A-shares and exchange-traded funds (ETFs).
2. the trading method for funds at the closing stage has been changed from continuous bidding to closing call auction, with the closing price generated through the call auction, consistent with Shanghai Stock Exchange-listed stocks.
3. adaptive revisions have been made based on rule changes and business needs, including incorporating relevant provisions from the previously publicly solicited “Notice on Adjusting the Price Fluctuation Limits for Main Board Risk Alert Stocks and Related Matters,” increasing the price fluctuation limit for main board risk alert stocks from 5% to 10%; adjusting rule wording; and optimizing disciplinary and other related provisions.

Going forward, the SSE will, in accordance with the unified deployment of the China Securities Regulatory Commission (CSRC), continuously improve basic trading systems, strengthen trading supervision, and effectively protect the legitimate rights and interests of investors.

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