第四十一条持有一个股份有限公司已发行的股份百分之五的股东，应当在其持股数额达到该比例之日起三日内向该公司报告，公司必须在接到报告之日起三日内向国务院证券监督管理机构报告；属于上市公司的，应当同时向证券交易所报告。

Article 41. A stockholder shall notify the company within three days when the stocks in his possession have reached five percent of the stocks issued by a limitedliability company. The company shall report it to the securities regulatory body under the State Council within three days of receipt of the report. Where is the company is listed, it shall also report it to the security exchange.

第四十二条前条规定的股东，将其所持有的该公司的股票在买入后六个月内卖出，或者在卖出后六个月内又买入，由此所得收益归该公司所有，公司董事会应当收回该股东所得收益。但是，证券公司因包销购入售后剩余股票而持有百分之五以上股份的，卖出该股票时不受六个月时间限制。

Article 42. Where the stockholder in the preceding article sells the stocks of the company in his possession within six months after he purchases them, or where he buys them back within six months after he sells them, profits from the transaction shall belong to the company and the company's board of directors shall take back the stockholder's profits. Where the securities company, as the sole underwriter, purchases all the unsold stocks and therefore exceeds the five?percent possession limit, it is exempt from the six?month restriction when it resells the stocks.

公司董事会不按照前款规定执行的，其他股东有权要求董事会执行。

Where the board of directors refuses to comply with the provisions of the preceding paragraph, other stockholders have the right to ask the board to comply.

公司董事会不按照第一款的规定执行，致使公司遭受损害的，负有责任的董事依法承担连带赔偿责任。

Where the board of directors' refusal to comply with the first paragraph of this article has resulted in losses to the company, the responsible directors are liable for the damages in accordance with the law.

第二节证券上市

Section Il Stock Listing

第四十三条股份有限公司申请其股票上市交易，必须报经国务院证券监督管理机构核准。

Article 43. When a limitedliability company applies to have its stocks listed, it shall submit an application to the securities regulatory body of the State Council for approval.

国务院证券监督管理机构可以授权证券交易所依照法定条件和法定程序核准股票上市申请。

The securities regulatory body of the State Council may empower a security exchange to approve stock listings in line with legally prescribed conditions and procedures.

第四十四条国家鼓励符合产业政策同时又符合上市条件的公司股票上市交易。

Article 44. The state encourages companies that conform with the policy for encouraging industrial development and also meet the conditions for stock listing to have their stocks listed.

第四十五条向国务院证券监督管理机构提出股票上市交易申请时，应当提交下列文件：

Article 45. The following documents shall be submitted together with an application to the securities regulatory body of the State Council to have one's stock listed and traded at the exchange:

（一）上市报告书；

(1) The listing report;

（二）申请上市的股东大会决议；

(2) The decision made by the shareholders' meeting to have the company listed;

（三）公司章程；

(3) The company's articles of incorporation;

（四）公司营业执照；

(4) The company's business license;

（五）经法定验证机构验证的公司最近三年的或者公司成立以来的财务会计报告；

(5) Balance sheets for the most recent three years, or since the company's founding, certified by a certifying organization;

（六）法律意见书和证券公司的推荐书；

(6) Legal advice and recommendation of the securities company;

（七）最近一次的招股说明书。

and (7) The latest prospectus.

第四十六条股票上市交易申请经国务院证券监督管理机构核准后，其发行人应当向证券交易所提交核准文件和前条规定的有关文件。

Article 46. After the application for stock listing is approved by the securities regulatory body under the State Council, the issuer shall submit to the stock exchange the approved document and relevantdocuments listed in the preceding article.

证券交易所应当自接到该股票发行人提交的前款规定的文件之日起六个月内，安排该股票上市交易。

The stock exchange shall arrange the listing of the said stock within six months after receipt from the issuer of the documents listed in the preceding paragraph.

第四十七条股票上市交易申请经证券交易所同意后，上市公司应当在上市交易的五日前公告经核准的股票上市的有关文件，并将该文件置备于指定场所供公众查阅。

Article 47 After the application for listing its stocks is approved by the stock exchanges, a listed company shall publish relevantdocuments concerning the approved listed stocks five days before trade of listed stocks begins. The said documents shall also be placed at appointed places for the public to read.

第四十八条上市公司除公告前条规定的上市申请文件外，还应当公告下列事项：

Article 48 In addition to the documents concerning the listing application stipulated by the preceding article, a listed company shall also publish the following:

（一）股票获准在证券交易所交易的日期；

(1) The date from which trade of stocks is approved to begin in the stock exchanges;

（二）持有公司股份最多的前十名股东的名单和持股数额；

(2) The name list of the top 10 stock holders of the company and the numbers of their stocks;

（三）董事、监事、经理及有关高级管理人员的姓名及其持有本公司股票和债券的情况。

and (3) The names of directors, supervisors, managers, and high?ranking administrators as well as information on their stock and bond holdings in the company.

第四十九条上市公司丧失公司法规定的上市条件的，其股票依法暂停上市或者终止上市。

Article 49. When a listing company loses its listing conditions stipulated by the regulations of the company law, the listing of its stocks shall be suspended or terminated.

第五十条公司申请其发行的公司债券上市交易，必须报经国务院证券监督管理机构核准。

Article 50. The application filed by a company for listing its bonds must be approved by the securities regulatory body under the State Council.

国务院证券监督管理机构可以授权证券交易所依照法定条件和法定程序核准公司债券上市申请。

The securities regulatory body under the State Council can authorize the stock exchanges to approve a company's application for listing its bonds in accordance with legal conditions and legal procedures.

第五十一条公司申请其公司债券上市交易必须符合下列条件：

Article 51. In applying for listing its bonds, a company must meet the following conditions:

（一）公司债券的期限为一年以上；

(1) The term of the company's bonds must be about one year;

（二）公司债券实际发行额不少于人民币五千万元；

(2) The amount of the bonds issued shall be no less than 50 million yuan;

（三）公司申请其债券上市时仍符合法定的公司债券发行条件。

and (3) The conditions for issuing the bonds shall be met at the time when a company applies for listing its bonds.

第五十二条向国务院证券监督管理机构提出公司债券上市交易申请时，应当提交下列文件：

Article 52. When applying with the securities regulatory body under the State Council for listing its bonds, a company shall submit the following documents:

（一）上市报告书；

(1) The listing report;

（二）申请上市的董事会决议；

(2) The decision adopted by the board of directors regarding listing application;

（三）公司章程；

(3) The company charter;

（四）公司营业执照；

(4) The company's business license;

（五）公司债券募集办法；

(5) The company's measures regarding raising its bonds;

（六）公司债券的实际发行数额。

and (6) The actual amount of the company's bonds issued.

第五十三条公司债券上市交易申请经国务院证券监督管理机构核准后，其发行人应当向证券交易所提交核准文件和前条规定的有关文件。

Article 53. After being approved by the securities regulatory body under the State Council for listing its bonds, the issuer shall submit to the stock exchanges the approved document and relevantdocuments stipulated by the preceding article.

证券交易所应当自接到该债券发行人提交的前款规定的文件之日起三个月内，安排该债券上市交易。

The stock exchanges shall arrange the listing of the said bonds within three months after its has received from the issuer the documents stipulated in the preceding paragraph.

第五十四条公司债券上市交易申请经证券交易所同意后，发行人应当在公司债券上市交易的五日前公告公司债券上市报告、核准文件及有关上市申请文件，并将其申请文件置备于指定场所供公众查阅。

Article 54.After the stock exchanges have agreed to a company's application for listing its bonds, the issuer shall publish the company's report on its bond listing, approved documents and documents concerning its listing application five day before listing its bonds. The said documents shall also be placed at appointed places for the public to read.

第五十五条公司债券上市交易后，公司有下列情形之一的，由国务院证券监督管理机构决定暂停其公司债券上市交易：

Article 55. The securities regulatory body under the State Council shall order a company, after listing its bonds, to suspend its bond listing if one of the following conditions occur:

（一）公司有重大违法行为；

(1) The company commits a major violation of law;

（二）公司情况发生重大变化不符合公司债券上市条件；

(2) The company experiences major changes, which do not conform to the conditions for a company to list its bonds;

（三）公司债券所募集资金不按照审批机关批准的用途使用；

(3) The funds raised by the company's bonds are not used in accordance with the purposes approved by the authorities concerned;

（四）未按照公司债券募集办法履行义务；

(4) The company fails to carry out its obligations stipulated by the company's measures for raising bonds;

（五）公司最近二年连续亏损。

and (5) The company experiences consecutive economic losses in the most recent two years.

第五十六条公司有前条第（一）项、第（四）项所列情形之一经查实后果严重的，或者有前条第（二）项、第（三）项、第（五）项所列情形之一，在限期内未能消除的，由国务院证券监督管理机构决定终止该公司债券上市。

Article 56. If a company experiences one of the situations enumerated in paragraphs (1) to (4) of the preceding article and is found to have severe consequences after investigations or one of the situations enumerated in paragraphs (2), (3), or (5) of the preceding article and these situations have not been eliminated within a set period of time, the securities regulatory body under the State Council shall make a decision to terminate the listing of the company's bonds.

公司解散、依法被责令关闭或者被宣告破产的，由证券交易所终止其公司债券上市，并报国务院证券监督管理机构备案。

When a company is disbanded, ordered to close in accordance with law, or announced bankrupt, the stock exchanges shall terminate the listing of its bonds and report for the record to the securities regulatory body under the State Council.

第五十七条国务院证券监督管理机构可以授权证券交易所依法暂停或者终止股票或者公司债券上市。

Article 57. The securities regulatory body under the State Council can authorize the stock exchanges to suspend or terminate the listing of a company's stocks or bonds in accordance with the law.

第三节持续信息公开

Section III. Continuous Dissemination of Information

第五十八条经国务院证券监督管理机构核准依法发行股票，或者经国务院授权的部门批准依法发行公司债券，依照公司法的规定，应当公告招股说明书、公司债券募集办法。依法发行新股或者公司债券的，还应当公告财务会计报告。

Article 58. According to the regulations of the Company Law, a company that has been approved by the securities regulatory body under the State Council to list its stocks in accordance with law or by the department authorized by the State Council to issue its bonds in accordance with the law shall publish its prospectus or its measures for raising bonds. The company that issues new stocks or bonds in accordance with the law shall also publish its financial accounting report.

第五十九条公司公告的股票或者公司债券的发行和上市文件，必须真实、准确、完整，不得有虚假记载、误导性陈述或者重大遗漏。

Article 59. The documents published by a company regarding the issuance and listing of its stocks or bonds shall be true, accurate, and complete and no fake records, misleading statements, or major omissions are allowed.

第六十条股票或者公司债券上市交易的公司，应当在每一会计年度的上半年结束之日起二个月内，向国务院证券监督管理机构和证券交易所提交记载以下内容的中期报告，并予公告：

Article 60. A company that has listed its stocks or bonds shall submit a mid?term report with the following information to the securities regulatory body under the State Council and to the stock exchanges within two months after the end of the first half year of each accounting year. Such documents shall also be published.

（一）公司财务会计报告和经营情况；

(1) The company's financial accounting report and management situation;

（二）涉及公司的重大诉讼事项；

(2) Major lawsuits involving the company;

（三）已发行的股票、公司债券变动情况；

(3) The changes of stocks and bonds already issued;

（四）提交股东大会审议的重要事项；

(4) Major matters submitted to the general meeting of stockholders for examination;

（五）国务院证券监督管理机构规定的其他事项。

and (5) Other matters stipulated by the securities regulatory body under the State Council.