Lock-up shares worth $8.5b eligible for trade next week

BEIJING - Lock-up shares worth about 57.47 billion yuan ($8.5 billion) will become eligible for trading on China's bourses next week.

Over 7.1 billion shares will become tradable on the Shanghai and Shenzhen stock exchanges from July 23 to 27, according to information service provider jrj.com.

Lock-up shares worth more than 300 billion yuan will become eligible for trading in July, down 18.1 percent from a month ago, data from Southwest Securities showed. The amount was the fourth largest this year.

Under China's market rules, major shareholders must wait for one to two years before they are permitted to sell their shares.

Chinese shares saw strong rebounds Friday, with the benchmark Shanghai Composite Index rising 2.05 percent to close at 2,829.27 points. The Shenzhen Component Index closed 1.12 percent higher at 9,251.48 points.