Lock-up shares worth 83b yuan to become tradable

BEIJING - Lock-up shares worth about 83.75 billion yuan ($13 billion) will become eligible for trade on China's bourses in the upcoming trading week.

From May 17 to 21, about 5.79 billion shares of 59 stocks will become tradable on the two stock exchanges in Shanghai and Shenzhen, according to data from financial information provider cls.cn.

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

Chinese stocks closed higher on Friday, with the benchmark Shanghai Composite Index up 1.77 percent, at 3,490.38 points. The Shenzhen Component Index closed 2.09 percent higher at 14,208.78 points.