BEIJING - The value of lock-up shares becoming eligible on China's stock market this week will be substantially up on the previous week, according to data from the country's two stock exchanges.

From Monday to Friday, [Businesses Registration]29 listed companies on the two bourses will see shares worth 69.2 billion yuan ($11.24 billion) released to the market after lock-up agreements expire.

The amount is three times more than a combined value of 17.2 billion yuan that became tradable during the previous week.

Under China's market rules, major shareholders of non-tradable stocks are subject to a lock-up period of one or two years before they are permitted to sell their shares.

A rise in newly unlocked shares will put some downward pressure on the market as it means an increase in stock supply.

Chinese automobile maker BYD will see more than 1 billion shares released to the market on Monday worth 49.15 billion yuan, [Hong Kong Company Formation|Hong Kong Company Registration]over 71 percent of the total value of shares become tradable this week.

The company's shares in Shenzhen closed 1.19 percent lower at 48.91 yuan on Friday.