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China Connect Securities Trading Services

Capture Opportunities in China's stock Market

Convenient way to trade China listed shares

To capture the unprecedented investment opportunities in China’s stock market, you need up-to-the-minute information and a convenient, reliable trading platform. As a leader in cross-border business, China CITIC Bank International provides you exactly this. Our China Connect Service gives you quick access to the Shanghai/Shenzhen stock market through our trading platform and also provide access to various proprietary in-house market analyses.

Trading Features for Northbound Trading of China Connect

Shanghai-Hong Kong Stock Connect

Shenzhen-Hong Kong Stock Connect

Eligible Shares

Constituent stocks of the SSE180 Index and SSE380 Index
A shares with corresponding H shares listed on SEHK
Excluding shares under risk alert board
Excluding shares that are not traded in RMB

Constituent stocks of the SZSE Component Index and SZSE Small/Mid Cap Innovation Index
Companies with market capitalization at least RMB6B
SZSE-listed companies that have issued both A and H shares
Excluding shares under risk alert board
Excluding shares that are not traded in RMB

Trading Currency

RMB

Order Type

Limit Order

Settlement

Stock settlement – T day
Fund settlement – T+1 day

Trading Hours

Opening Call Auction	09:15 – 09:25
Continuous Auction (Morning)	09:30 – 11:30
Continuous Auction (Afternoon)	13:00 – 15:00
Closing Call Auction	N/A

Opening Call Auction	09:15 – 09:25
Continuous Auction (Morning)	09:30 – 11:30
Continuous Auction (Afternoon)	13:00 – 14:57
Closing Call Auction	14:57 – 15:00

Trading Day

Please refer to Hong Kong Exchanges and Clearing Limited – Trading calendar for Northbound Trading

Quota Control

Quota control is imposed under Northbound Trading and applies to buy orders which may be suspended or rejected in case of insufficient quota balances:
Daily Quota : RMB52billion

Why Trade with China CITIC Bank International?

Low Commission Rate – as low as 0.125%^#
Convenient Stock Trading Channels – place orders anytime, anywhere with our Online Securities Trading platform^{^}, inVest or by calling our Securities Trading Hotline at 2287 6088 (Automated securities trading service or Manned securities trading by Customer Service Officer)
Quick Account Opening – Log on to Internet Banking or visit branch to open One Account
Up-to-date Market Information with in-depth Analysis
Free real-time snapshot quotes – up to 1,000 real-time quotes per month^#
Ease-of-mind trade confirmation – Receive email/SMS notification once the electronic confirmation is registered

Note:

^# Please refer to the "Investment Products Service Fees & Charges" table for details.

^{^} Customers who place securities orders through our online trading platform may log on to the i-banking for updates on the order status. Personal call confirmations are not available.

Risk Disclosure Statements

Investment involves risks and past performance is not indicative of future performance. The price of stocks fluctuates, sometimes dramatically. The price of a stock may move down or up and may become valueless. It is as likely that losses will be incurred rather than profits made as a result of buying or selling stocks. Investors should consider their own investment objectives, financial resources and relevant circumstances, and read the relevant leaflet, Terms and Conditions for Securities Trading, including risk disclosure statements before making any investment decision. If needed, investors should seek independent professional advice.

The key risks of investing in the securities of China Connect include:

Currency Risk

Renminbi is subject to exchange rate risk. The Hong Kong dollar value of investment will decrease if the Renminbi depreciates against Hong Kong dollar. Conversion between Renminbi and other currencies (including Hong Kong dollar) is subject to policy restrictions relating to Renminbi and consequently the relevant regulatory requirements in Hong Kong. Such requirements may be amended subject to changes in the policy restrictions relating to Renminbi. Renminbi is not freely convertible at present. The actual conversion arrangement will depend on the restrictions prevailing at the relevant time.

Not protected by Investor Compensation Fund

Transactions under the Northbound or Southbound Trading of China Connect will not be covered by the Investor Compensation Fund in Hong Kong. Hong Kong investors participating in Northbound trading are not protected by China Securities Investor Protection Fund on the Mainland.

Quotas used up

If the Northbound Daily Quota Balance drops to zero or the Daily Quota is exceeded during the opening call auction session, new buy orders will be rejected. However, as order cancellation is common during opening call auction, the Northbound Daily Quota Balance may resume to a positive level before the end of the opening call auction. When that happens, SEHK will again accept Northbound buy orders. Once the Northbound Daily Quota Balance drops to zero or the Daily Quota is exceeded during a continuous auction session, no further buy orders will be accepted for the remainder of the day. The same arrangement applies to the closing call auction of SZSE. It should be noted that buy orders already accepted will not be affected by the Daily Quota being used up and will remain on the order book of SSE and SZSE respectively unless otherwise cancelled by relevant SEHK Participants.

Trading day

China Connect will only operate on days when both markets are open for trading and when banks in both markets are open on the corresponding settlement days. Investors should take note of the days China Connect is open for business and decide according to their own risk tolerance whether or not to take on the risk of price fluctuations in A-shares during the time when China Connect is not trading.

Recalling of eligible stocks

When some stocks are recalled from the scope of eligible stocks for trading via China Connect, the stocks can only be sold but NOT bought. This may affect the investment portfolio or strategies of investors. Investors should therefore pay close attention to the list of eligible stocks as provided and renewed from time to time by SSE/SZSE and SEHK.

Restrictions on selling imposed by front-end monitoring

For investors who usually keep their A-shares outside of their brokers, if they want to sell certain A-shares they hold, they must transfer those A-shares to the respective accounts of their brokers before the market open on the day of selling (T day). If they fail to meet this deadline, they will not be able to sell those A-shares on T day.

The above is only an overview of some of the risks related to China Connect. Investor should undertake your own research and study before you trade or invest.

The above information is for reference only and is neither a recommendation, nor an offer or a solicitation to enter into any investment arrangement.

This webpage has not been reviewed by the Securities and Futures Commission of Hong Kong.