The following excerpts from the website of China Hong Kong Stock Exchange are what investors should know when opening accounts and buying and selling stocks:
First of all, investors should choose appropriate securities according to their risk-taking ability and investment strategy. Before making an investment decision, we can consider the management performance and growth record of listed companies and refer to the company's annual report and other announcements. Investors must always bear in mind that the greater the potential benefits, the higher the potential risks. In other words, the risk taken is usually proportional to the chance of getting a return.
Investors who want to buy and sell stocks in mainland China and Hongkong need to trade through securities dealers registered with China Securities Regulatory Commission.
When choosing a securities company, investors can listen to the opinions of relatives and friends or professionals, or they can directly inquire about securities companies and compare the services and fees of different securities companies. Different securities companies provide different services and charge different fees. Some securities companies will provide customers with in-depth research reports or investment advice or other value-added services, and the commission may be higher. Other securities companies only buy and sell securities on behalf of customers, without providing additional services, and the fees may be relatively cheap. Some securities companies may only handle cash account transactions, while others will provide discretionary accounts or margin accounts commonly known as "margin transactions". Investors should weigh their investment and financial needs before deciding to entrust the most suitable securities company to open a cash or margin account.
All brokers must register with the Securities and Futures Commission. They must have considerable education, experience, good financial situation and personal integrity. They are also required to display the dealer certificate issued by the SFC in a conspicuous place in the office. Brokers must be participants in the stock exchange to directly buy and sell securities on behalf of investors through the trading system of China Stock Exchange. At present, there are about 500 SEHK participants. SEHK participant certificate or branch certificate must be displayed prominently in its offices and branches. Investors who have doubts about the identity of SEHK participants can consult the China Stock Exchange.
When an investor opens an account in a securities company of a stock exchange participant, he must fill in the account opening form and sign a customer agreement. The basic contents of the customer agreement (including the designated risk disclosure statement) are set out in the Code of Conduct for Licensees or Registrants of the Securities and Futures Commission.
As the client agreement is a binding legal document for investors, investors must ensure that all information is true and correct before signing the client agreement. In case of doubt, investors should seek legal advice.
In order to protect their own interests, investors should personally go to the office of the securities company to open an account. Before buying or selling securities, investors should know the delivery period of securities and the calculation method of commission, interest and other expenses. In order to protect the interests of the market, securities companies can also ask investors to provide introduction books, or ask investors to introduce them through existing customers or other people familiar with securities companies, so as to understand the ability of customers to fulfill their obligations of buying and selling securities. Investors can also check the directory of stock exchange participants and trading rights holders on the website of China Stock Exchange to find out whether the brokers entrusted by them are stock exchange participants. Website: ex/expartlst/se/tradmemlist_c
Investors who buy or sell securities through stock exchange participants can refer to the securities transaction fee: ex/tradinfo/trancost/trancost _ c.
If the settlement between investors and brokers or custodians is conducted outside the central clearing system, China Hongkong Clearing will not charge investors. However, brokers or custodians need to pay for the settlement, delivery, custody and agency services provided by China Hongkong Clearing. Whether brokers or custodians pass these fees on to investors is entirely their business decision.
Execution procedures of buying and selling orders: Generally speaking, investors can place orders with securities companies through telephone, Internet or other electronic channels, or go to the offices of securities companies in person. When closing, clearly indicate the name (or code), quantity and purchase price of the securities to be bought or sold, and then wait for the staff of the securities company to repeat the instructions. If all the instructions are correct, the staff of the securities company will input the customer's order information into AMS/3. If there is a matching counterparty order in the system at that time, the entered order will be automatically matched. Otherwise, the order must be queued in the waiting list at the same price, and it will be replenished after matching the previous order.
The securities settlement is conducted on T+2 (two days after the transaction), but T+2 is only the securities settlement arrangement between the participants of the stock exchange and the securities settlement institution. All settlement arrangements, including securities and currency settlement, are commercial arrangements between investors and securities companies. However, because some cash customers may not have deposited in securities companies, and employees of securities companies have purchased shares according to customers' instructions, in order to reduce the risks caused by customers' failure to fulfill their trading responsibilities on the delivery date, some securities companies may require customers to pay immediately after the trading instructions are executed. Customers should check the payment arrangement with the securities company before the transaction.
For details of stock purchase, please refer to the FAQ of investors on the website of China Hong Kong Stock Exchange: EX/INVEDU/FAQ/IPO _ SEC _ TRAD _ MKT _ C.
See also China Mainland and Hongkong Stock Exchange Brochure: EX/INVEDU/Booklet/T&; S_c.pdf You didn't even say whether the people who bought H shares in Hong Kong and China were from China or Hong Kong. If I'm from Hong Kong, China, and I just bought China and Hong Kong stocks on the mainland, it's good to do business online. I can also make a long-distance call to the stock company in China and Hongkong. I just called the stock company in China and Hongkong directly.
If you are a mainlander, of course, you should open a stock account in the Mainland and Hong Kong. Otherwise, you can go to the branches of the Bank of China in Chinese mainland and Hongkong to ask!
Supplementary explanation:
You didn't even say whether the people who bought China and Hong Kong H shares were from China and Hong Kong. For example, I'm from Hong Kong, China, and I just bought stocks in China and Hong Kong on the mainland. It's good to do business online. I can also make a long distance call to the stock company in China and Hongkong. I just called the stock company in China and Hongkong directly.
If you are a mainlander, of course, you should open a stock account in the Mainland and Hong Kong. Otherwise, you can go to the branches of the Bank of China in Chinese mainland and Hongkong to ask! , manage money online through the computer!
Of course, you must open an account in China and Hongkong first. ,