This topic investigates the transfer of shares of listed companies held by state-owned shareholders through the securities trading system. For listed companies with a total share capital of no more than 6,543.8 billion shares, the cumulative net transfer of state-owned controlling shareholders in a fiscal year is planned to reach more than 5% of the total share capital; For a listed company with a total share capital of more than 6,543.8 billion shares, if the cumulative net transfer amount of state-owned controlling shareholders reaches more than 50 million shares in a fiscal year, it shall be reported to the institution that performs the responsibilities of investor for examination and approval.