1. The trading rules of Hong Kong stocks mainly include:

(1) The Hong Kong Stock Connect transaction supports the revolving transaction (T+0) of full-hand trading, but customers are not allowed to sell naked;

(2) Hong Kong Stock Connect cannot modify the order, but can cancel the order before reporting;

(3) There is no price limit for Hong Kong stocks, but the declared price must be within the above-mentioned reasonable quotation range;

4 Hong Kong Stock Connect will not be included in the margin financing and securities lending target for the time being;

⑤ No shady transactions, that is, no matchmaking outside the stock exchange;

⑥ Do not participate in automatic over-the-counter trading of stock exchanges.

2. The Exchange controls the total trading volume and daily quota of Hong Kong stocks respectively, based on the net flow after the balance of buying and selling, and limited to the quotation or transaction amount, excluding the transaction tax and the amount of funds generated by the company's non-trading behaviors such as cash dividends and interest.

① Total amount: The total amount of Hong Kong stock transactions is 250 billion yuan.

Total amount balance = total amount-total amount of buying transactions+total amount of selling transactions.

The total balance is calculated after the end of each trading day. When the total balance is lower than the daily limit, SPV of Shanghai Stock Exchange will suspend accepting new bills on the next trading day.

② Daily quota: The daily quota of Hong Kong Stock Connect is RMB 654.38+RMB 05 million.

Available balance of the day = daily quota-amount declared for buying+amount declared for selling+amount declared for buying cancelled and rejected by the stock exchange+difference between the price declared for buying and the price declared.

③ Settlement of Hong Kong stocks: Follow the "T+2 settlement", that is, according to the rules of the Hong Kong market, both securities and funds are settled on T+2. The trading hours of Hong Kong stocks are different from those of A-shares, which are divided into four periods: pre-market period, morning market period, afternoon period and closing bidding period, in which the pre-market period is 9: 30 am 9:30- 10/0, which can be subdivided into four stages.

The first stage, 9:30-9:45 am, is the time for investors to enter orders.

The second stage is 9:45-9:50 am, which is the pre-matching period of the trading system.

The third stage is 9:50-9:58 am, which is the matching time of the trading system.

The fourth stage is 9: 58 am 9:58- 10/0 pause. The real opening hours are 10 in the morning to 12: 30 in the afternoon, 2 hours and 30 minutes. The afternoon market is 14: 30 to 16, totaling 1 hour for 30 minutes. The bidding deadline is from 16 pm to 16 pm.