The official name of A shares is RMB common stock. Common shares issued by companies in China for domestic institutions, organizations or individuals (excluding investors from Taiwan, Hong Kong and Macao) to subscribe and trade in RMB. A shares are not physical shares. Electronic recording, paperless, implementation of "T+ 1" delivery system, price limit (10%). The participating investors are Chinese mainland institutions or individuals.

Unlimited circulating A shares refer to A shares that can be traded every day. Due to the restricted period of major shareholders' shares when listed companies go public and the restricted period promised by major shareholders during the share reform, many shares are restricted in circulation and will become tradable after the restricted period expires.

Funds can be divided into broad sense and narrow sense. Broadly speaking, a fund refers to a certain amount of funds set up for a certain purpose. For example, trust and investment funds, unit trust funds, provident funds, insurance funds, retirement funds and funds of various foundations. Funds in the existing securities market, including closed-end funds and open-end funds, have the characteristics of income function and value-added potential. From the accounting point of view, capital is a narrow concept, which refers to funds with specific purposes and uses. Because the investors of government agencies and institutions do not require investment returns and investment recovery, but require funds to be used for designated purposes in accordance with the law or the wishes of the investors, funds are formed.