第四十一條持有一個(gè)股份有限公司已發(fā)行的股份百分之五的股東，應(yīng)當(dāng)在其持股數(shù)額達(dá)到該比例之日起三日內(nèi)向該公司報(bào)告，公司必須在接到報(bào)告之日起三日內(nèi)向國(guó)務(wù)院證券監(jiān)督管理機(jī)構(gòu)報(bào)告；屬于上市公司的，應(yīng)當(dāng)同時(shí)向證券交易所報(bào)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 limited liability 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.

第四十二條前條規(guī)定的股東，將其所持有的該公司的股票在買入后六個(gè)月內(nèi)賣出，或者在賣出后六個(gè)月內(nèi)又買入，由此所得收益歸該公司所有，公司董事會(huì)應(yīng)當(dāng)收回該股東所得收益。但是，證券公司因包銷購(gòu)入售后剩余股票而持有百分之五以上股份的，賣出該股票時(shí)不受六個(gè)月時(shí)間限制。

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.

公司董事會(huì)不按照前款規(guī)定執(zhí)行的，其他股東有權(quán)要求董事會(huì)執(zhí)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.

公司董事會(huì)不按照第一款的規(guī)定執(zhí)行，致使公司遭受損害的，負(fù)有責(zé)任的董事依法承擔(dān)連帶賠償責(zé)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.

第二節(jié)證券上市

Section Il Stock Listing

第四十三條股份有限公司申請(qǐng)其股票上市交易，必須報(bào)經(jīng)國(guó)務(wù)院證券監(jiān)督管理機(jī)構(gòu)核準(zhǔn)。

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

國(guó)務(wù)院證券監(jiān)督管理機(jī)構(gòu)可以授權(quán)證券交易所依照法定條件和法定程序核準(zhǔn)股票上市申請(qǐng)。

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.

第四十四條國(guó)家鼓勵(lì)符合產(chǎn)業(yè)政策同時(shí)又符合上市條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.

第四十五條向國(guó)務(wù)院證券監(jiān)督管理機(jī)構(gòu)提出股票上市交易申請(qǐng)時(shí)，應(yīng)當(dāng)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）上市報(bào)告書(shū)；

(1) The listing report;

（二）申請(qǐng)上市的股東大會(huì)決議；

(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）公司營(yíng)業(yè)執(zhí)照；

(4) The company's business license;

（五）經(jīng)法定驗(yàn)證機(jī)構(gòu)驗(yàn)證的公司最近三年的或者公司成立以來(lái)的財(cái)務(wù)會(huì)計(jì)報(bào)告；

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

（六）法律意見(jiàn)書(shū)和證券公司的推薦書(shū)；

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

（七）最近一次的招股說(shuō)明書(shū)。

and (7) The latest prospectus.

第四十六條股票上市交易申請(qǐng)經(jīng)國(guó)務(wù)院證券監(jiān)督管理機(jī)構(gòu)核準(zhǔn)后，其發(fā)行人應(yīng)當(dāng)向證券交易所提交核準(zhǔn)文件和前條規(guī)定的有關(guān)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 relevant documents listed in the preceding article.

證券交易所應(yīng)當(dāng)自接到該股票發(fā)行人提交的前款規(guī)定的文件之日起六個(gè)月內(nèi)，安排該股票上市交易。

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.

第四十七條股票上市交易申請(qǐng)經(jīng)證券交易所同意后，上市公司應(yīng)當(dāng)在上市交易的五日前公告經(jīng)核準(zhǔn)的股票上市的有關(guān)文件，并將該文件置備于指定場(chǎng)所供公眾查閱。

Article 47 After the application for listing its stocks is approved by the stock exchanges, a listed company shall publish relevant documents 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.

第四十八條上市公司除公告前條規(guī)定的上市申請(qǐng)文件外，還應(yīng)當(dāng)公告下列事項(xiàng)：

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）股票獲準(zhǔn)在證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東的名單和持股數(shù)額；

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

（三）董事、監(jiān)事、經(jīng)理及有關(guān)高級(jí)管理人員的姓名及其持有本公司股票和債券的情況。

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.

第四十九條上市公司喪失公司法規(guī)定的上市條件的，其股票依法暫停上市或者終止上市。

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.

第五十條公司申請(qǐng)其發(fā)行的公司債券上市交易，必須報(bào)經(jīng)國(guó)務(wù)院證券監(jiān)督管理機(jī)構(gòu)核準(zhǔn)。

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

國(guó)務(wù)院證券監(jiān)督管理機(jī)構(gòu)可以授權(quán)證券交易所依照法定條件和法定程序核準(zhǔn)公司債券上市申請(qǐng)。

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.

第五十一條公司申請(qǐng)其公司債券上市交易必須符合下列條件：

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

（一）公司債券的期限為一年以上；

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

（二）公司債券實(shí)際發(fā)行額不少于人民幣五千萬(wàn)元；

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

（三）公司申請(qǐng)其債券上市時(shí)仍符合法定的公司債券發(fā)行條件。

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

第五十二條向國(guó)務(wù)院證券監(jiān)督管理機(jī)構(gòu)提出公司債券上市交易申請(qǐng)時(shí)，應(yīng)當(dāng)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）上市報(bào)告書(shū)；

(1) The listing report;

（二）申請(qǐng)上市的董事會(huì)決議；

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

（三）公司章程；

?(3) The company charter;

（四）公司營(yíng)業(yè)執(zhí)照；

(4) The company's business license;

（五）公司債券募集辦法；

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

（六）公司債券的實(shí)際發(fā)行數(shù)額。

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

第五十三條公司債券上市交易申請(qǐng)經(jīng)國(guó)務(wù)院證券監(jiān)督管理機(jī)構(gòu)核準(zhǔn)后，其發(fā)行人應(yīng)當(dāng)向證券交易所提交核準(zhǔn)文件和前條規(guī)定的有關(guān)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 relevant documents stipulated by the preceding article.

證券交易所應(yīng)當(dāng)自接到該債券發(fā)行人提交的前款規(guī)定的文件之日起三個(gè)月內(nèi)，安排該債券上市交易。

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.

第五十四條公司債券上市交易申請(qǐng)經(jīng)證券交易所同意后，發(fā)行人應(yīng)當(dāng)在公司債券上市交易的五日前公告公司債券上市報(bào)告、核準(zhǔn)文件及有關(guān)上市申請(qǐng)文件，并將其申請(qǐng)文件置備于指定場(chǎng)所供公眾查閱。

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.

第五十五條公司債券上市交易后，公司有下列情形之一的，由國(guó)務(wù)院證券監(jiān)督管理機(jī)構(gòu)決定暫停其公司債券上市交易：

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）公司有重大違法行為；

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

（二）公司情況發(fā)生重大變化不符合公司債券上市條件；

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

（三）公司債券所募集資金不按照審批機(jī)關(guān)批準(zhǔn)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）未按照公司債券募集辦法履行義務(wù)；

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

（五）公司最近二年連續(xù)虧損。

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

第五十六條公司有前條第（一）項(xiàng)、第（四）項(xiàng)所列情形之一經(jīng)查實(shí)后果嚴(yán)重的，或者有前條第（二）項(xiàng)、第（三）項(xiàng)、第（五）項(xiàng)所列情形之一，在限期內(nèi)未能消除的，由國(guó)務(wù)院證券監(jiān)督管理機(jī)構(gòu)決定終止該公司債券上市。

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、依法被責(zé)令關(guān)閉或者被宣告破產(chǎn)的，由證券交易所終止其公司債券上市，并報(bào)國(guó)務(wù)院證券監(jiān)督管理機(jī)構(gòu)備案。

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.

第五十七條國(guó)務(wù)院證券監(jiān)督管理機(jī)構(gòu)可以授權(quán)證券交易所依法暫?；蛘呓K止股票或者公司債券上市。

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.

第三節(jié)持續(xù)信息公開(kāi)

Section III. Continuous Dissemination of Information

第五十八條經(jīng)國(guó)務(wù)院證券監(jiān)督管理機(jī)構(gòu)核準(zhǔn)依法發(fā)行股票，或者經(jīng)國(guó)務(wù)院授權(quán)的部門批準(zhǔn)依法發(fā)行公司債券，依照公司法的規(guī)定，應(yīng)當(dāng)公告招股說(shuō)明書(shū)、公司債券募集辦法。依法發(fā)行新股或者公司債券的，還應(yīng)當(dāng)公告財(cái)務(wù)會(huì)計(jì)報(bào)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.

第五十九條公司公告的股票或者公司債券的發(fā)行和上市文件，必須真實(shí)、準(zhǔn)確、完整，不得有虛假記載、誤導(dǎo)性陳述或者重大遺漏。

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.

第六十條股票或者公司債券上市交易的公司，應(yīng)當(dāng)在每一會(huì)計(jì)年度的上半年結(jié)束之日起二個(gè)月內(nèi)，向國(guó)務(wù)院證券監(jiān)督管理機(jī)構(gòu)和證券交易所提交記載以下內(nèi)容的中期報(bào)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）公司財(cái)務(wù)會(huì)計(jì)報(bào)告和經(jīng)營(yíng)情況；

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

（二）涉及公司的重大訴訟事項(xiàng)；

?(2) Major lawsuits involving the company;

（三）已發(fā)行的股票、公司債券變動(dòng)情況；

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

（四）提交股東大會(huì)審議的重要事項(xiàng)；

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

（五）國(guó)務(wù)院證券監(jiān)督管理機(jī)構(gòu)規(guī)定的其他事項(xiàng)。

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