2 Non-tradable share reform Non-tradable Share Reform in Chinese Capital markets Background Problems Caused by the Issue Principles and strategies of the reform Progress OR INTERNAL USE ONLY this communication may be reproduced or redistributed ② 中国证券监督管理委员会 CHINA SECUIRITIES E ATDRYCDFOR INTERNAL USE ONLY – No portion of this communication may be reproduced or redistributed. Non-tradable Share Reform in Chinese Capital markets „Background „Problems Caused by the Issue „Principles and Strategies of the Reform „Progress 2. Non-tradable Share Reform tradable Share Reform