Locked shares worth 20.65 billion yuan to become tradable

BEIJING -- Locked shares worth 20.65 billion yuan (around $3.26 billion) will become eligible for trade on China's bourses next week.

From Monday to Friday, a total of 2.75 billion shares will become tradable on the Shanghai and Shenzhen bourses, according to data from financial information provider Wind.

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 0.41 percent to 3,309.75 points. The Shenzhen Component Index closed 0.62 percent higher at 12,447.37 points.