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What does it mean that you need to open the trading authority to buy a split and graded fund?
This is a new rule.

Important: From May 2007 1, 2065438, you need to open the authority to purchase/split graded funds.

20 17-03-27 09:00

Announcement notice

In order to strengthen the management of classified fund business and safeguard the legitimate rights and interests of investors, according to the "Guidelines for the Management of Classified Fund Business" issued by Shanghai and Shenzhen Stock Exchanges, since May 1 2065438, investors who have not opened the relevant authority of classified funds are not allowed to buy sub-shares of classified funds or split basic shares; Investors who have held classified funds but have not opened the relevant authority of classified funds can choose to continue to hold or sell the currently held shares of classified funds. Only after qualified investors have opened the trading authority at the counter can they trade the sub-shares of graded funds normally.

That is, from 201May 17, the purchase/split of graded funds requires special authorization.

Influence of changes in old and new rules on investors

Welcome the opening authority

Normal transactions can still be conducted during the transition period.

From now on, you can apply for business permission at the sales department site. If the trading authority of the graded fund is not opened, your normal participation in the trading of the graded fund after May 1 will be affected.

Do not meet the opening permission.

Normal transactions can still be conducted during the transition period.

After 20 1 May 71,according to the requirements of the new regulations of the Exchange, the securities company will limit your authority to buy sub-shares of graded funds and split the shares of parent funds.

If you previously held a sub-share, but did not have the opening authority, you can choose to continue to hold or sell the current share.