The conditions for opening an account on the select floor of the New Third Board require investors to have 6,543,800,000 financial assets and have corresponding investment experience or financial knowledge. However, after the account is opened, the new third board selection layer only has the trading authority of the new third board selection layer, and there is no trading authority of the new third board innovation layer and the new third board foundation layer. If investors need to trade the stocks of the innovation layer and the basic layer of the New Third Board, they need to open additional trading rights.

The National Stock Transfer Company issued and implemented the Measures for the Management of the Appropriateness of Investors in the National Small and Medium-sized Enterprise Share Transfer System, which comprehensively lowered the threshold for investors in the New Third Board and set differentiated access conditions for different market levels. The asset thresholds of the selected layer, the innovation layer and the basic layer were reduced to 6,543.8+0,000 yuan, 6,543.8+0.5 million yuan and 2 million yuan respectively.

The authority of the New Third Board is divided into the authority of qualified investors and the authority of restricted investors, in which qualified investors can buy and sell the shares of the New Third Board in the whole market, and restricted investors can only buy and sell the shares of the New Third Board they hold or have held.

For restricted investors, if they want to open the three-board trading authority, they only need to have the certificate of holding shares in the three-board.

The opening of QFII qualification needs to meet the following two conditions:

1, corporate institutions with paid-in capital or paid-in share capital of more than 1 10,000 yuan, partnership enterprises with paid-in capital of more than 1 10,000 yuan, or assets in securities accounts and capital accounts in my name before the opening of the applicant institution are more than 1 10,000 yuan per day (excluding funds and securities that investors have integrated through margin financing and securities lending).

2. Have more than 2 years experience in securities, funds and futures investment, or have more than 2 years experience in financial product design, investment, risk management and related work, or have senior management experience in financial institutions such as securities companies, futures companies, fund management companies and their subsidiaries, commercial banks, insurance companies, trust companies, finance companies, subsidiaries of securities companies, subsidiaries of futures companies and private fund managers. Registered by a trade association.

In terms of specific trading rules, the selected stocks are traded by means of continuous bidding to match the opening and closing of call auction. The specific time schedule is as follows: call auction will bid continuously from 9: 00 a.m.15 to 9:25 a.m., from 9:30 a.m. to1:30 a.m. and from 13:00 p.m. to 14:57 p.m.