Account opening instructions

1. Open a securities account

To invest in the securities market, you must first open an account and establish your own account. To open an account, you need to open a securities account and a capital account separately. Only when both accounts are opened can you trade securities. First, open a securities account. A securities account is also called a shareholder account or shareholder card. It is equivalent to a stock passbook. Once it is opened, you can have a securities account in the stock exchange and accurately conduct investor's securities transactions through the exchange. Efficient recording, clearing and delivery. Investors' purchases and sales of securities will be truthfully reflected in their securities accounts. If investors want to trade stocks listed on the Shanghai and Shenzhen stock exchanges at the same time, they need to open a Shanghai Stock Exchange securities account and a Shenzhen Stock Exchange securities account respectively. To open a Shanghai or Shenzhen securities account, you must go to a local securities registration company or an authorized account opening agency. For example, Beijing Securities Registration Co., Ltd. is the only statutory institution for investors in Beijing to open securities accounts in Shanghai and Shenzhen. At the same time, Beijing Securities Registration Co., Ltd. also opens agencies such as SEG Securities Bei Securities and Guosen Securities Bei Securities to handle securities accounts. account opening business.

There are different types of securities accounts. Currently, securities accounts on the Shanghai and Shenzhen exchanges are mainly divided into natural person securities accounts, legal person securities accounts; A-share securities accounts; B-share securities accounts and fund accounts, etc.

A Shanghai A-share securities account can buy and sell stocks, funds, and bonds listed and traded on the Shanghai Stock Exchange; a Shenzhen A-share securities account can buy and sell stocks, funds, and bonds listed and traded on the Shenzhen Stock Exchange; funds The account can buy and sell funds and bonds, but not stocks; B-share securities accounts can only buy and sell listed B-shares; domestic natural persons can open personal A-share securities accounts and fund accounts, but those who have opened A-share securities accounts cannot If you open a fund account again, those who have already opened a fund account cannot open an A-share securities account; domestic legal person investors can open legal person A-share securities accounts, and overseas natural persons and legal persons can open B-share securities accounts and A-share securities accounts. It is not open to overseas investors, and B-share securities accounts are not open to domestic investors.

When a domestic individual opens an A-share securities account, he must present his or her own ID card. If he or she entrusts another person to do it on his or her behalf, the original ID cards of both the principal and the entrusted party must be presented. Each ID card can only open one Shanghai securities account and Shenzhen securities account. The ID number and the securities account number (shareholder card number) correspond one to one, and repeated accounts are not allowed. When a domestic legal person opens a legal person A-share securities account, it is required to hold the original and copy of the business license (with official seal), legal representative certificate, legal person power of attorney and the identity of the person handling it, etc. Legal person A-share accounts cannot be opened repeatedly, and foreign, Hong Kong, Macao and Taiwan wholly-owned enterprises in mainland China are not allowed to open A-share securities accounts. The steps for opening an account are as follows:

(1) Purchase an account opening application form from a local securities registration company or its agent and fill it out as required;

(2) Submit the completed account opening application, Submit valid certificates and account opening fees to the staff;

(3) After confirmation, the A-share securities account can be obtained.

To open a B-share securities account on the Shanghai Stock Exchange, you must generally go to a securities firm with the qualification to trade B stocks. To open a B-share securities account on the Shenzhen Stock Exchange, you must go to Shenzhen Securities Registration Settlement company handles it. B-share investors who are individuals opening accounts must provide foreign ID cards, residence certificates, passports or similar valid documents and their copies in duplicate; investors who are institutional investors must provide joint venture or sole proprietorship business licenses and their copies Piece in duplicate. When opening an account, fill out the account opening application and pay the account opening fee. Once the securities accounts of the Shanghai and Shenzhen Stock Exchanges are opened, they can be used and are used nationwide. The old securities account cards of the Shenzhen Stock Exchange, except those opened locally in Shenzhen, need to be replaced with new ones at the local securities registration company. The card can only be used. According to relevant national regulations, the following personnel are not allowed to open A-share securities accounts:

(1) Relevant personnel in the securities regulatory authority who manage securities affairs;

(2) Stock exchange managers ;

(3) Personnel in securities operating institutions who are directly related to stock issuance or trading;

(4) Institutional staff who have direct administrative affiliation or management relationship with the issuer ;

(5) Other insiders related to stock issuance or trading;

(6) Minors or people with incapacity and those without ID cards issued by the public security organs Personnel;

(7) Due to violation of securities laws and regulations, the competent authority decides to stop their securities trading and the time limit has not expired;

(8) Other laws and regulations stipulate that they are not allowed to own or participate in securities transactions Natural persons, including armed police, active military personnel, etc.

In addition, securities practitioners, cadres at or above the division level of state agencies, and active military personnel are not allowed to participate in stock transactions, but they can open fund accounts and buy and sell funds and bonds.

The securities account card is an important basis for conducting securities investment and trading activities with shareholders. Its legal securities transactions and the securities it holds are protected by law. Therefore, investors must keep it properly to prevent loss and do not transfer it to The securities account card number (shareholder code) is leaked to others to avoid unnecessary disputes.

2. Open a capital account

After opening a securities account, investors will be qualified to make securities investments, but investors cannot directly contact the exchange for transactions. Therefore, only members of the exchange can trade on the exchange. Therefore, investors must also choose a securities business department that has exchange membership and can engage in securities operations as their broker for securities transactions, and register in the securities business department. After opening a capital account, the securities business department will act as an agent for the individual to conduct transactions in the exchange and handle clearing, delivery, transfer and other procedures. Generally speaking, investors can open their own capital accounts at any securities business department according to their own wishes and entrust the securities business department to make securities investments. However, facing hundreds of securities firms and thousands of securities business departments across the country, for their own sake The funds and securities invested are safer and more convenient, and the services they receive are more thoughtful and complete. Before opening a capital account, investors should still choose a securities business department. Investors can consider the following aspects:

(1) What is the credibility and financial strength of the securities business department;

(2) Whether the hardware facilities are advanced and complete, and whether transactions in the Shanghai and Shenzhen stock markets have been opened. If it is a retail investor, you should also consider the size of the household, the number of people, the number of magnetic card entrustment terminals and analysis system terminals, whether there is manual entrustment, the delivery method, etc. Large and medium-sized households should also examine whether self-service entrustment is convenient and fast, the speed of the computer system, whether the analysis software is complete, whether the runway is smooth, etc.

(3) Whether the management is standardized, what is the service level, whether there are complete and thoughtful information and consulting services; what is the security situation, transaction safety, confidentiality, and whether fund access is convenient and safe.

(4) What are the requirements for the starting point of deposit for opening an account? What are the deposit requirements for individual houses, telephone accounts, medium accounts and large accounts?

(5) What is the charging standard of the sales department? In addition to the transaction fees stipulated by the state, are there any other fees, such as entrustment fees, order cancellation fees, communication fees, inquiry fees, venue Fees, account opening fees, account closing fees, etc. How high or low are the fees?

(6) Whether the location is convenient, large and medium-sized households also need to consider whether there are enough parking spaces, etc. After making a comprehensive comparison, investors can select a securities business department and open a capital account at this securities business department.

Steps to open a capital account:

Individual investors need to hold their ID cards and securities account cards (shareholder cards) to sign a securities agency transaction agreement with the securities business department. Confirm relevant matters. Investors read the agreement carefully and understand their rights and obligations. Then they fill in the relevant content, such as name, shareholder card number, ID number, contact address, phone number, signature, and submit it to the staff. The staff will verify that it is correct. Then stamp the official seal and make two copies, one copy for each investor and the sales department. The staff establishes a capital account for the investor, and the investor should deposit a trading margin at the same time. Some securities business departments also produce a capital account card (usually a magnetic card), and the investor will receive the card at the same time. If the investor cannot go to the securities business department in person to handle the account opening procedures, the agent must go to the securities business department with the original ID cards of the investor and the agent. If a legal person investor opens an account, legal trading personnel and fund allocation personnel authorized by the legal person should hold relevant documents, including a copy of the legal person's license, a transaction and capital allocation authorization letter, the original and copy of the authorized person's ID card, and securities Account card, go to the securities business department to go through the account opening procedures.

If the investor also opens a telephone entrustment service, he should also sign a "telephone entrustment agreement" with the sales department and receive a telephone entrustment operation guide.

Since the Shanghai Stock Exchange has implemented a comprehensive designated trading system since April 1, 1998, after opening a capital account, you must also handle designated transactions, otherwise you cannot trade securities on the Shanghai Stock Exchange. Investors can It is handled under the guidance of the staff. Details of the designated transactions will be introduced in the following chapters. Since designated transactions must be handled by the investor himself and cannot be handled by an agent, when opening a capital account, it is best for the investor to be present in person. After completing the above procedures, investors can start securities transactions. It should be noted that investors are trading with the margin deposited in their capital accounts. The maximum limit for buying securities cannot exceed the amount of the margin, otherwise they will be As for overdraft processing, the securities business department will generally provide prompts on the computer system to ensure that investors will not be overdrafted. Once an overdraft occurs, they should contact the staff in time to resolve it to avoid unnecessary disputes. In addition, when investors open a capital account, they can open it at one securities business office, or they can open capital accounts at multiple securities business offices according to their own needs. We will discuss the issues arising from this later on custody and transfer. Detailed introduction is provided in the hosting chapter.