Beijing on Wednesday declared that strategic foreign investors wishing to buy shares in listed Chinese companies must buy stakes of at least 10 percent and hold them for three years or more.

The restrictions are part of a detailed list of requirements published following a policy announcement in October that opened the door for long-term foreign investors to buy tradable shares in listed Chinese companies for the first time. The new rules open up an avenue of exits for such foreign investors, but they also come with stringent rules attached.