Security exchange personnel with inside information are not allowed to engage in securities trading activities using inside information.

The following personnel are personnel with inside securities trading information:(1) Board directors, supervisors, managers, deputy managers, and other relevant senior administrators of companies that issue stocks or corporate bonds;(2) Stockholders holding 5 percent of more of a company's stocks; (3) Senior administrators of a company that controls companies that issue stocks;(4) Personnel who, because of their offices in the company they serve, can have access to information relevant to the company's securities trading; (5) Personnel working for securities regulatory organs, and other personnel who, because of their official responsibilities, supervise securities exchanges;(6) Personnel of intermediary organs, organs of securities registration and settlement, and organs providing security exchange services, who take part in securities trading because of their official responsibilities;(7) Other personnel prescribed by the securities regulatory body under the State Council.

During securities trading, non?publicized information concerning a company's operations and financial situation, and information having an important impact on the market prices of the company's securities, is inside information.

Personnel with inside information about a company's securities trading, or other personnel having illegitimate access to inside information, shall not buy or sell the company's securities, leak the information, or suggest that other people buy or sell the securities.

(Lawyer Wu Yingjie)