Experts welcomed moves by the China Securities Regulatory Commission (CSRC) to tighten rules governing stake sales by big shareholders in listed companies. The new rules will make the stock market more stable and sustainable in the long term, besides strengthening investor sentiment. The new policy requires major shareholders to divulge detailed information on all aspects of their stake sales via mechanisms like block deals. It also covers the sale of private placement shares and equity transfers via agreements. The definition of major shareholders now includes those who hold 5% or more shares in a company.