what are a shares, b shares and h shares?

The stocks of listed companies in China are divided into A shares, B shares, H shares, N shares and S shares. This distinction mainly depends on the place where the stock is listed and the investors it faces.

the official name of a shares is RMB ordinary shares. It is a common stock issued by me and domestic companies for domestic institutions, organizations or individuals (excluding investors from Taiwan, Hong Kong and Macao) to subscribe and trade in RMB. In 199, there were only 1 A-share stocks in China. By the end of 1997, the number of A-share stocks had increased to 72, with a total share capital of 164.6 billion shares and a total market value of 1,752.9 billion yuan, which was equivalent to the GDP. In 1997, the annual turnover of A shares was 447.1 billion shares, and the annual turnover was 3,29.5 billion yuan. After several years of rapid development, China's A-share stock market has begun to take shape.

the official name of b shares is RMB special shares, which are denominated in RMB, subscribed and traded in foreign currencies, and listed and traded on domestic (Shanghai, Shenzhen) stock exchanges. Its investors are limited to foreign natural persons, legal persons and other organizations, natural persons, legal persons and other organizations in Hongkong, Macau and Taiwan Province, and China citizens who have settled abroad. Other investors as stipulated by China Securities Regulatory Commission. At present, the investors of Japanese stocks are mainly institutional investors in the above categories. B-share companies are registered and listed in China. Only investors are overseas or in China, Hongkong, Macau and Taiwan Province.

after six years' development, China's Japanese stock market has developed from a local market to an all-sex market under the unified management of China Securities Regulatory Commission since the first Japanese stock, Shanghai Electric Vacuum, was issued in China at the end of 1991. By the end of 1997, there were 11 Japanese shares in China, with a total share capital of 12.5 billion shares and a total market value of 37.5 billion RMB. The market size of the three shares is much smaller than that of the A-share market. In recent years, China has also made some useful explorations in Japanese stock derivatives and other aspects. For example, in 1995, Shenzhen CSG Company successfully issued Japanese convertible bonds, Shekou Merchants Port conducted a second listing pilot in Singapore, and four companies in Shanghai and Shenzhen also conducted a pilot project to convert Japanese stocks into first-class ADR for trading in the US cabinet market.

H shares are foreign-funded shares registered in the mainland and listed in hong kong. The English of HOngKOng is Hong Kong, taking its prefix, and foreign shares listed in Hong Kong are called H shares. By analogy, new york's first English letter is N, Singapore's first English letter is S, and the stocks listed in new york and Singapore are called N shares and 5 shares respectively.