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上市公司股东减持股份,是资本市场自由交易的一种常见现象,其本身是一个中性行为。但是,如果上市公司股东、董监高等相关主体利用规则的空白或漏洞无序减持、违规减持,则可能造成市场失序,使公平的市场交易机制发生扭曲,并损害广大中小投资者合法权益。基于此,2017年5月26日,证监会对外发布《上市公司股东、董监高减持股份的若干规定》(证监会公告[2017]9号,以下简称
The reduction of shares by the shareholders of a listed company is a common phenomenon in free trade in the capital market and is itself a neutral act. However, if listed companies shareholders, directors and supervisors use the rules of the higher related to disorderly or loopholes in disorderly holdings, illegal reduction, it may cause market disorder, the fair market trading mechanism distorted and undermine the legitimate rights and interests of the vast number of small and medium investors . Based on this, on May 26, 2017, the China Securities Regulatory Commission (CSRC) released a number of “Regulations on Shareholding of Directors and Supervisors in Listed Companies” (CSRC Announcement [2017] No. 9, hereinafter referred to as the "