A responsible person from the relevant department of the China Securities Regulatory Commission answered reporters' questions on recent work related to stabilizing the market and stabilizing expectations.

Zhitong Finance APP has learned that on November 2, the relevant person in charge of the China Securities Regulatory Commission answered reporters' questions on recent work related to stabilizing the market and stabilizing expectations. The person in charge stated that recently the CSRC plans to make the following adjustments and optimizations to share repurchases necessary to safeguard company value and shareholder rights and interests (referred to as "market-support repurchases"): First, add stock price "below issue price" as one of the circumstances under which market-support repurchases may be carried out, stipulate that market-support repurchases are not subject to the restriction that "the company's shares have been listed for six full months," and cancel the restriction in market-support repurchases that orders may not be submitted during the opening and closing call auction sessions. Second, require listed companies within 36 months of listing, when their stock prices trigger circumstances for market-support repurchases, to strictly and earnestly fulfill the stock price stabilization measures in their listing commitments. Third, require listed companies with excess raised funds, when triggering market-support repurchases, to implement repurchases in a timely manner. Fourth, require listed companies to specify in their annual cash dividend plans a certain proportion of funds to be included in a special repurchase fund, require listed companies with excess raised funds to include a certain proportion of excess raised funds in the special repurchase fund for the dedicated purpose of share repurchase and cancellation, and require listed companies to include the gains from selling market-support repurchase shares through centralized bidding into the special repurchase fund.