Requirements for transfer of state-owned shares of listed companies

A listed company may transfer state-owned shares. The state-owned assets of enterprises belong to the state, and the transfer of state-owned shares is decided by the state-owned assets supervision and administration institution. The transfer of all state-owned shares or part of state-owned shares, so that the state no longer has a controlling position, shall be reported to the people's government at the same level for approval.

legal ground

Article 2 of the Interim Regulations on the Supervision and Administration of State-owned Assets of Enterprises

These Regulations shall apply to the supervision and administration of state-owned assets in state-owned and state-holding enterprises and state-owned shareholding enterprises. These regulations are not applicable to the supervision and management of state-owned assets of financial institutions.

Article 23

The state-owned assets supervision and administration institution decides the transfer of state-owned shares of the enterprises it contributes. Among them, the transfer of all state-owned shares or part of state-owned shares, so that the state no longer has a holding position, reported to the people's government at the same level for approval.