The Shanghai, Shenzhen, and Beijing exchanges will implement revised A-share trading rules on July 6, 2026, introducing significant changes to trading mechanisms. Key updates include the expansion of after-hours fixed-price trading to all A-shares and ETFs, and a shift from continuous auction to closing call auction for fund closing periods on the Shanghai Stock Exchange. Additionally, the price fluctuation limit for main board risk-warning stocks will increase from 5% to 10%. The Shenzhen Stock Exchange will introduce a market maker system on ChiNext and adjust the confirmation time for negotiated block trades. The scope of after-hours fixed-price trading will also expand to include all A-shares and ETFs. The Beijing Stock Exchange will introduce after-hours fixed-price trading and adjust block trade price ranges for stocks without fluctuation limits, while clarifying rules for risk-warning and delisting consolidation stocks.