Employee stock ownership plan to be released at "proper time": regulator

 BEIJING, Aug. 19 (Xinhua) -- China's securities regulator said here Sunday that it will launch the employee stock ownership plan (ESOP) for listed companies at a "proper time" after further improving the draft regulation.

The China Securities Regulatory Commission (CSRC) told Xinhua that it is reviewing feedback on the draft regulation on the shareholding¹ scheme, which was issued to seek public opinion on Aug. 5.

The plan, which allows listed firms to buy their own stocks on the secondary market through an assets management agency with a designated part of their employees' cash compensation, is aimed at allowing more staff to benefit from stock ownership.

Employees of listed companies can participate in the plan on a voluntary basis and be entitled to shares according to a distribution agreement, according to the draft.

The ESOP, which will help increase the efficiency and comprehensive strength of a listed company, is a widely-employed mechanism² in mature securities markets. China had previously³ introduced plans that encouraged only senior executives to own stakes in listed companies.

1 shareholding   

n.股权

参考例句：

• Shareholding commercial banks must exercise an independent system of board of directors. 股份制商业银行必须实行独立董事制度。 来自互联网
• Asset re-structuring: to conduct shareholding reform for high quality assets. 资产重组：对优质资产进行股份制改造。 来自互联网

2 mechanism   

n.机械装置；机构，结构

参考例句：

• The bones and muscles are parts of the mechanism of the body.骨骼和肌肉是人体的组成部件。
• The mechanism of the machine is very complicated.这台机器的结构是非常复杂的。

3 previously   

adv.以前，先前（地）

参考例句：

• The bicycle tyre blew out at a previously damaged point.自行车胎在以前损坏过的地方又爆开了。
• Let me digress for a moment and explain what had happened previously.让我岔开一会儿，解释原先发生了什么。