Shanghai and Shenzhen Stock Exchange: Expand the securities of the Shanghai -Shenzhen -Hong Kong Standard bid to the stock ETF

[Dahecai Cube News] On June 24, the Shanghai and Shenzhen Exchange released the implementation of the Shanghai and Shenzhen -Hong Kong Stock Connect business implementation measures (revised in 2022).

The "Implementation Measures for the Shanghai Stock Exchange Shanghai -Hong Kong Stock Connect Business (Amendment of 2022)" total of 16 news and 28 revisions, the main content includes:

(1) Expand the securities scope of the Shanghai -Hong Kong Standard as the stock ETF

1. Clarify the scope of the securities of the target. Article 16 and 65 are added to clarify the securities of Shanghai Stock Connect and Hong Kong Stock Connect.

2. Adjust the common regulations involving the subject of the subject. Regarding the provisions that are applicable to stocks and stock ETFs at the same time, the "stock" expression is uniformly adjusted to "securities" or "subjects", including transaction matters such as quotes, non -trading transfer, real -time market release, information disclosure, etc., involving the twentieth 20th Article 8, Article 38, Article 41, 90, and Article 129, etc.

3. The regulations for the voting rights of the HSBC ETF shareholding holder. Revised Article 133, clarify that the Hong Kong Settlement as the name holder participated in the fund share holder meeting and exercised the voting rights, and implemented in accordance with the relevant provisions of the "Administrative Measures for the Management of Securities Investment Fund".

(2) Clarify the income and adjustment mechanism of stock ETF

1. Clearly incorporated conditions. Article 22 and 71, clarify the conditions of the Shanghai Stock Connect and Hong Kong Stock Connect ETF, including product attributes, asset scale, listing time, tracking index release time, Shanghai -Shenzhen -Hong Kongtong's shareholding proportion, follow -up, tracking, tracking, and tracking Index and its preparation schemes.

2. Determine the situation. Article 23 and 72, the situation of Shanghai Stock Connect and the Hong Kong Stock Connect ETF is clearly called, including the scale of assets, the proportion of the shareholding of the Shanghai -Shenzhen -Hong Kong Stock Connect, the tracking index and its preparation plan.

3. Clear regular adjustment arrangements. Article 24 and seventy -three are added to clearly adjust the announcement and effective time of the ETF of Shanghai Stock Connect and Hong Kong Stock Connect.

4. Clear temporary adjustment arrangements. Article 25 and 74, clarify the temporary adjustment mechanism for the termination of the stock ETF.

5. Clarify that the stock ETF that cannot obtain relevant data is not included. Article 26 and 75, it is clear that the corresponding stock ETF will not be included when it cannot obtain the index data used to judge the conditions of the income.

(3) Standardize investors' return trading behavior

1. Supplementary specifications of Shanghai Stock Connect investors do not include mainland investors

Article 40 is added, which clearly stipulates that "the Shanghai Stock Connect investors do not include mainland investors. The securities trading service company of the Stock Exchange shall adopt an appropriate way, request participants in the Stock Exchange Persons urge their customers to abide by the previous paragraph. "

2. Clarify the scope and definition standard of mainland investors

Article 127 The interpretation of the "Mainland Investors" is added. "Mainland investors refer to Chinese citizens who hold the identity document of Mainland China and the legal person and illegal organization registered in Mainland China. Chinese citizen of identity certification documents. Mainland identity documents include domestic residents' household registration books, resident ID cards, Chinese People's Republic of China passports, and Hong Kong and Macao Pass. Overseas permanent residence identity documents include, but not limited to permanent resident cards issued by foreign countries and regions, Permanent resident visa. "

Mainland identity documents do not include travel to Hong Kong and Macau (commonly known as one -way card). The branches or subsidiaries established by the Mainland registered legal person and illegal organization can use the identity document (such as a commercial registration certificate, etc.) obtained from overseas to open the Shanghai Stock Connect transaction permissions.

For example, one of the investors in the joint account belongs to the mainland investors, and the joint account is specified in accordance with the account of the mainland investor account.

(4) Other adaptive revision

1. Add regulations for new Shanghai Stock Connect ETFs to guarantee short -selling and exemption. According to the "Implementation Rules for the Trading Trading Transaction of Trading and Trading", the restrictions on the price increase of the ETF securities securities trading sales (that is, the declared price shall not be lower than the recent transaction price), and the fourth Shanghai Stock Connect ETF guarantee is added in Article 35 Selling free exemption regulations.

2. Supplement the information disclosure channel of Shanghai Stock Connect and Hong Kong Stock Connect. According to the "Administrative Measures for Information Disclosure of Securities Investment Fund" and relevant provisions of the Banking Office, Article 131 and Article 132 are revised.

3. Supplement the regulations on fixed price transactions after the stock of Shanghai Stock Connect CCP stocks. Article 31. Those who clarify that the securities of the Shanghai Stock Connect as the science and technology board shares can be approved by a fixed price transaction after the market, which specifies the content that the fixed price declaration instruction should be included after the market; After the fixed price transaction is included in the Shanghai Stock Connect, it is controlled.

4. New regulations for delisting, and modify the situation of not being included in the Shanghai Stock Connect. The "Shanghai Stock Exchange Stock Listing Rules" has canceled the suspension of listing, and currently has no suspension of listed stocks. Based on this, the adjustment of the Shanghai Stock Connect's shares is not included, Article 17 is revised, the "suspension of listed stocks" is deleted, and Article 19 will be modified, and "those who have been delivered to the market" are newly added.

5. Added and supplemented related interpretations. Revised Article 127, newly added securities, ETFs, Shanghai Stock Connect and Hong Kong Stock Connect ETF, Shenzhen Stock Connect, regular adjustment inspection deadline, broad -foundation stock index, synthetic ETF, leverage and leverage and leverage and leverage Reverse products and other interpretations; supplement the interpretation of Shanghai -Hong Kong Stock Connect, Shanghai Stock Connect, and Hong Kong Stock Connect, and increase the relevant arrangements for stock ETFs.

The "Implementation Measures for the Shenzhen -Hong Kong Stock Connect of the Shenzhen Stock Exchange" totaled 17 news and revised 35 items. It also extended the securities scope of Shenzhen -Hong Kong Stock Connect to the stock ETF, clarified the stock ETF in and adjustment mechanism, and improved the investment related investment in mainland investors.Regulation.Attachment: Shanghai Stock Exchange Shanghai -Hong Kong Stock Connect Business Implementation Measures (revised in 2022)

Shenzhen Stock Exchange Shenzhen -Hong Kong Stock Connect Business Implementation Measures (revised in 2022)

Responsible editor: Chen Yuyao | Review: Li Zhen | Director: Wan Junwei

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