The establishment of shares refers to the pledge of the pledge of shares, which can be transferred according to law. The quality of the shares shall be entered into a written contract and shall be registered with the securities registration authority, and the pledge contract shall take effect from the date of registration. The shares may not be transferred after the quality of the shares, except as agreed by the pledgor and the pledgee. Upon the consent of the pledgee, the proceeds from the transfer of the shares by the pledgee shall be paid to the pledgee to liquidate the secured claims or to the third party as agreed with the pledgee. However, the company shall not accept the shares of the company as the subject matter of pledge. 7. Efficiency. The efficiency of the plan mainly refers to the time and economy. The fund said last year that it would grow 1.1% in 2017 and then increase its forecast to 2%. Julie Palmer, a retail expert at Begbies Traynor, said retailers faced a particularly disappointing deal in the weeks following the apparent success of "black Friday" at the end of November. Marvin Loh, senior fixed income strategist at BNY Mellon,