How to open an account? What should be paid attention to when opening a B-share account? The official name of B shares is RMB special stock. It is a foreign-funded stock listed and traded in China (Shanghai and Shenzhen) stock exchanges with the face value indicated in RMB and foreign currency. B-share Companies are registered and listed in China. How to open an account for B shares?
Conditions for opening stock account
Individual investors require adults over the age of 18, and only foreign investors can apply to open B shares for institutional clients. When opening a B-share account, individual clients need to deposit no less than 1000 US dollars in Shanghai B account and no less than 7800 Hong Kong dollars in Shenzhen B account.
Stock account opening process:
Step one: go to the original foreign exchange deposit bank with my valid identification documents, and transfer the cash deposit and foreign currency cash deposit into the B-share margin account of the securities firm in the same city and in the same trade. Domestic commercial banks shall issue receipts to domestic residents and statements to securities business institutions;
Step 2: open a B-share capital account in a securities business institution with my valid identity certificate and my receipt. The minimum amount of opening a B-share capital account is equivalent to US $1000;
Step 3: with the newly opened B-share capital account, apply to the securities business institution for opening a B-share stock account.
Stock trading rules
After understanding the procedures and requirements for opening B-share accounts, we need to further understand the trading rules of B-share, so as to make better trading judgment in the stock market, sell and buy in time,
Trading varieties: Shenzhen B shares and Shanghai B shares
Trading time: 9:30-11:30 a.m. and 1:00-3:00 p.m. from Monday to Friday (Beijing time).
Transaction principle: price first, time first.
Minimum price change range: HK $0.01 on Shenzhen Stock Exchange and US $0.001 on Shanghai Stock Exchange.
Trading unit: the price of entrusted trading and clearing shall be subject to one share. The trading amount of B shares in Shenzhen stock exchange is 100 shares or its integral multiples. The trading amount of B shares in Shanghai Stock Exchange is 1000 shares or its integral multiples.
Trading mode: Shenzhen B-share trading mode is divided into centralized trading and knock on trading.
Centralized Trading: refers to the trading reached through the centralized market trading system of the exchange during trading hours.
Knock on Trading: a B-share securities firm enters the same B-share buying order and selling order received by it after matching them five minutes before the market opening and closing, and the transaction is concluded after confirmation by the knock on trading system of the exchange. Knock on trading is limited to the transfer of shares held in trust with the same securities firm and between different investors. Each transaction must have more than 50000 shares.