The Shanghai Stock Exchange further optimizes matters related to bond repurchase business.

The Shanghai Stock Exchange has issued a notice on further optimizing the bond repurchase business. If any of the following situations occur in the trading price of corporate bonds, the repurchaser can repurchase the relevant bonds through secondary market trading in order to stabilize market fluctuations and boost market confidence: the closing price of the bond falls by 5% compared to the closing price on the 20th trading day prior; the closing price of the bond falls by 10% compared to the highest closing price of the bond in the past year; the closing price of the bond is more than 5% lower than the face value of the bond; or if the repurchaser has reasonable grounds to believe that the bond price deviates from its fair value. If multiple corporate bonds simultaneously meet the above-mentioned conditions, the repurchaser can, based on factors such as the trading activity of the relevant bonds and the degree of price fluctuations, determine different repurchase arrangements on a fair and reasonable basis. When implementing the trading repurchase, the repurchaser can only use methods such as matching transactions, click transactions, or competitive bidding transactions.