lock-ups

Other reforms also look good on paper, such as a stricter separation of institutional and retail channels to strip out speculative bids, and a loosening of lock-ups for certain tranches.

其它改革在纸面上看起来也不错，比如更严格地隔离机构与零售渠道，以排除投机性申购，还有放松针对某些股票的禁售期。

The expiry of lock-ups means that the tradable market capitalisation of A-shares was 82 per cent of the total in August, up from 30 per cent just three years before.

而禁售期届满意味着，8月份A股的流通股已占总市值的82%，比三年前的30%大为提高。

They wanted to isolate those lock-ups so that-at worst-they would only affect an individual user, and not be able to impact the health of the overall system in any way.

他们希望隔离这些锁定，这样即使在最坏的情况下，也只会影响到单个用户，而不会对整个系统的健康有任何影响。