Short-term trading new regulations officially implemented, internal trading restricted to enhance market fairness.

The new short-term trading regulations issued by the China Securities Regulatory Commission will take effect today, aiming to restrict major shareholders and executives with holdings of over 5% from using their information advantage for short-term trading to profit, in order to maintain market fairness. The new rules specify the applicable entities, range of securities, calculation standards for trading points, and list 13 exemptions to support market development and regulatory needs. Market rumors have mistakenly interpreted the new regulations on short-term trading as regulations on high-frequency quantitative trading. Many securities firms and quantitative private equity firms have clarified this and stated that the new regulations are not related to high-frequency quantitative trading. In addition, rumors about the "trade equality" related to the removal of exchanges' exclusive hosting of trading rooms are not directly related to the new regulations on short-term trading.