China Galaxy International Securities (Hong Kong) Co., Limited Shanghai-Hong Kong Stock Connect Information Booklet Disclaimer The information and materials contained in this brochure are provided on an as is and as available basis and may be amended or changed as implementation of Shanghai-Hong Kong Stock Connect and promulgation or preparation of the relevant rules, regulations, agreements and other documentation progress. This brochure does not necessarily deal with every important topic relating to Shanghai-Hong Kong Stock Connect or cover every aspect of the topics with which it deals. It is not designed to provide legal or other advice and should not be relied on as such. Specific legal, tax or other advice about your specific circumstances should always be sought separately before taking any action based on this brochure. China Galaxy International Securities (Hong Kong) Co., Limited shall not be responsible or liable for any direct, consequential, incidental, indirect or special loss or damage, howsoever caused, of any kind, arising from the use of or reliance upon any information or materials provided in this brochure, or for any errors, omissions or inaccurate information contained in this brochure. As the implementation of Shanghai-Hong Kong Stock Connect is subject to conditions, including regulatory approvals, completion of all necessary development work and market readiness, its establishment may or may not take place. Accordingly, potential investors are reminded to exercise caution when dealing in its securities. Investors should also exercise caution when dealing in any other securities traded on SEHK or SSE which may be included in the scope of Shanghai-Hong Kong Stock Connect and their derivatives. (Last Update: 12 November 2014)
Shanghai-Hong Kong Stock Connect Introduction Shanghai-Hong Kong Stock Connect is a securities trading and clearing links programme to be developed by Hong Kong Exchanges and Clearing Limited ( HKEx ), Shanghai Stock Exchange ( SSE ) and China Securities Depository and Clearing Corporation Limited ( ChinaClear ), aiming to achieve a breakthrough in mutual market access between the Mainland and Hong Kong. Under Shanghai-Hong Kong Stock Connect, The Stock Exchange of Hong Kong Limited ( SEHK ), a wholly-owned subsidiary of HKEx, and SSE will establish mutual order-routing connectivity and related technical infrastructure to enable investors of their respective market to trade designated equity securities listed in the other s market. The Hong Kong Securities Clearing Company Limited (HKSCC), also a wholly-owned subsidiary of HKEx, and ChinaClear will be responsible for the clearing, settlement and the provision of depository, nominee and other related services of the trades executed by their respective market participants and investors. Shanghai-Hong Kong Stock Connect divided into two parts. Northbound Trading is for Hong Kong and overseas investors to invest in Mainland market. Southbound Trading is for Mainland investors to invest in Hong Kong Market. Advantages of Northbound Trading Participate in the growth of an exciting emerging economy China Diversify your investment portfolio with shares of the China market New opportunities to invest with RMB No need to have an account on Mainland HKEx subsidiaries are responsible for trading, clearing and settlement. All fund transfers are in Hong Kong 1
Features of Shanghai-Hong Kong Stock Connect Order routing in Gross for maximum price discovery Clearing and settlement in Net for minimum cross-boundary fund flow All RMB conversion in Hong Kong Closed loop cross-boundary fund flow Home market rules and laws apply Reciprocal structure for alignment of interests Scalable in the future Order Flow of Shanghai-Hong Kong Stock Connect 2
Eligible stocks under Shanghai-Hong Kong Stock Connect Index Constituent Northbound Trading Constituent stocks from SSE 180 Index Constituent stocks from SSE 380 Index Southbound Trading Hang Seng Composite Large Cap Index Hang Seng Composite Mid Cap Index A+H Shares A Shares listed on both SSE and SEHK H Shares listed on both SSE and SEHK Not Include Any shares which are not traded in RMB Any shares which are included in the risk alert board Hong Kong shares that are not traded in HKD H shares which have corresponding shares listed and traded on an exchange in Mainland China other than SSE H shares which have corresponding A shares put under risk alert Trading Details and Limitation Trading Hours: Northbound trading will follow SSE s trading hours. However, SEHK will accept Northbound orders from EPs five minutes before the Mainland market session opens in the morning and in the afternoon. SSE Trading Session SSE Trading Hours Time for EPs to input Northbound orders Opening Call Auction 09:15-09:25 09:10-11:30 Continuous Auction (Morning) 09:30-11:30 Continuous Auction (Afternoon) 13:00-15:00 12:55-15:00 09:20 09:25: SSE will not accept order cancellation 09:10 09:15; 09:25 09:30; 12:55 13:00: Orders and order cancellations can be accepted by SEHK but will not be processed by SSE until SSE s market open Orders that are not executed during the opening call auction session will automatically enter the continuous auction session 3
Quota: Trading under Shanghai-Hong Kong Stock Connect will, initially, be subject to a maximum cross-boundary investment quota (i.e., Aggregate Quota), together with a Daily Quota. Northbound Trading Aggregate Quota RMB 300 Billion Calculate at the end of each trading day Aggregate Quota balance = Aggregate Quota aggregate buy trades + aggregate sell trades (calculated at the weighted average cost) If Aggregate Quota Balance is less than Daily Quota, Northbound buying will be suspended on the next trading day. SEHK will re-open Northbound buying once the Aggregate Quota balance returns to the Daily Quota level or above. Daily Quota RMB 130 Billion SEHK monitors the usage of the Northbound Daily Quota on a real time basis and the Northbound Daily Quota Balance will be updated on HKEx website every minute Daily Quota Balance = Daily Quota Buy Orders + Sell Trades + Adjustments Once the Northbound Daily Quota Balance drops to zero: During the opening call session, new buy orders will be rejected. During a continuous auction session (Continuous Trading), no further buy orders will be accepted for the remainder of the day. Buy orders already accepted will not be affected by the Daily Quota being used up and will remain on the order book of SSE unless otherwise cancelled by the relevant EPs. Quota information will be disseminated through the HKEx website at one minute intervals and through HKEx s Orion Market Data Platform at five second intervals. 4
Trading Rules and Limitation: Settlement Currency Order Types Securities Settlement Cycle Cash Settlement Cycle Ticket Size Price Limit RMB Only allow limit order Trade Day Trade Day + 1 Day Uniformly set at RMB0.01 A general price limit of +/-10% based on previous closing price and ±5% for stocks under special treatment (i.e. ST and *ST stocks) in the risk alert board Note: All orders input must be at or within the price limit, otherwise, it will be rejected by SSE. Board Lot Size Maximum Order Size Odd Lot Day trading Block trades Naked short selling Margin Financial 100 shares 1 million shares Only for Sell Order Not Allow Not Allow Not Allow Eligible A shares listed by SSE 5
Severe Weather Conditions Scenarios Northbound Money Settlement Securities Existing Trading Of SSE (For T-1 Position) Settlement typhoon/rainstor Securities (For T m procedure for Position) Hong Kong market 1. T8/ Black rainstorm Not open No N/A Not open issued before HK market opens (i.e. 9:00 a.m.) and discontinued after 12:00 noon 2. T8 issued between 9:00 a.m. and 9:15 a.m. Not open Yes N/A Trading in the securities 3. T8 issued after SSE market opens (i.e. 9:15 a.m.) 4. Black rainstorm issued after HK market opens (i.e. 9:00 a.m.) Trading will continue for 15 minutes after T8 issuance, thereafter, only order cancellation is allowed till SSE market close Trading continues as normal market will be terminated at the end of the Pre-opening Session Yes Yes Trading will be terminated in 15 minutes Yes Yes Trading continues as normal 5. T8/ Black rainstorm Trading Postpone to 3 Yes Trading issued discontinued at resumes after 2 p.m. resumes after 2 or before 12:00 noon hours hours 6
Holiday Arrangement Mainland Hong Kong Open for Northbound Trading? Day 1 Business Day Business Day Open Day 2 Business Day Business Day Close (HK market closes on money settlement day) Day 3 Business Day Public Holiday Close (HK market closes on trading day) Day 4 Public Holiday Business Day Close (Mainland market closes) If a Northbound trading day is a half trading day in Hong Kong market, Northbound Trading will continue until SSE market is closed. The Northbound trading calendar will be available on HKEx website before launch of Shanghai-Hong Kong Stock Connect. Key Differences between Hong Kong Stocks and SSE Securities Hong Kong Market SSE A Shares Market Stock code 5 digits 6 digits Auction session 09:00-9:20 09:15-9:25 * Accept order from 9:10 Continuous session 09:30-12:00 09:30-11:30 13:00-16:00 13:00-15:00 * Accept order from 12:55 Board lot Defined by listed company 100 shares Price spread Different securities have different price spread Uniform at RMB0.01 Price Limit No Limit General price limit ±10% ±5% for ST and *ST stocks Upper Limit of order 3000Lots 1M Shares Day trading Allowed Not allowed Odd lot Buy or Sell also allowed Sell Only Settlement cycles Issuing of corporate announcements Language of corporate announcements Both securities and money are settled on the same day on T+2 days SEHK s HKExnews website Traditional Chinese and English Securities: settled on T day Money: settled on T+1 day Through SSE website and four officially appointed newspapers (Shanghai Securities News, Securities Times, China Securities Journal and Securities Daily) Simplified Chinese 7
Differences in trading day Investors should note that, due to differences in public holidays between Hong Kong and mainland China, there may be differences in the trading days in the two markets. Even if Mainland markets are open on a certain day, investors may not necessarily be able to invest in A-shares through Northbound trading. For example, the Hong Kong market will close on Easter and Christmas every year, but those are trading days in mainland China. Likewise, during Lunar New Year and the National Day golden week periods, mainland China will usually arrange for seven-day consecutive holidays by reshuffling workdays and weekends. Even on days both markets are open for business, there could be differences because of other reasons such as bad weather conditions. In the initial stage of operation of Shanghai-Hong Kong Stock Connect, investors will only be allowed to trade on the other market on days where both markets are open for trading, and banking services are available in both markets on the corresponding settlement days. Deposition and custody of stocks The A-shares traded by Hong Kong and overseas investors through Shanghai-Hong Kong Stock Connect are issued in scripless form, so investors will not hold any physical A-shares. Instead, they will only hold these A-shares through their brokers or custodians and their ownership is indicated in their brokers/custodians records such as client statements. This is different to the fact that holders of Hong Kong shares can choose to hold physical shares under their own names or in the name of HKSCC nominees. Foreign shareholding restriction on SSE Securities Under current Mainland rules, unless otherwise permitted by the relevant strategic investor regulations, a single foreign investor s (i.e. QFII and RQFII) shareholding in a listed company is not allowed to exceed 10% of the company s total issued shares, while all foreign investors shareholding in the A shares of a listed company is not allowed to exceed 30% of its total issued shares. When the aggregate foreign shareholding of an individual A share reaches 26%, SSE will publish notices on its website (http://www.sse.com.cn/disclosure/diclosure/qfii). If aggregate foreign shareholding exceeds the 30% threshold, the foreign investors concerned will be requested to sell the shares on a last-in-first-out basis within five trading days. 8
SSE Securities purchased through Shanghai-Hong Kong Stock Connect will be considered in totality with those purchased by QFII and RQFII, and be subject to the same foreign shareholding restriction. Once SSE informs SEHK that the aggregate foreign shareholding of an SSE Security reaches 28%, further Northbound buy orders in that SSE Security will not be allowed, until the aggregate foreign shareholding of that SSE Security is sold down to 26%. If the 30% threshold is exceeded due to Shanghai-Hong Kong Stock Connect, HKEx will identify the relevant EP and require it to follow the forced-sale requirements. HKEx will publish a notification on its website to inform the market about suspension of buy orders if the shareholding limit goes beyond 28% and about the resumption of buy orders if the shareholding drops below 26%. Foreign investors can continue to sell the A share which aggregate foreign shareholding has reached the 30% threshold. If such selling activities cause the aggregate foreign shareholding to drop below the 30% threshold within 5 trading days, EPs who were subject to the forced-sale requirement may submit application to the SEHK for forced-sale exemption. Disclosure obligations for SSE Securities According to the Law of the PRC on Securities, when an investor holds or controls up to 5% of the issued shares of a Mainland listed company, the investor is required to report in writing to the CSRC and the relevant exchange, and inform the listed company within three working days. The investor is not allowed to continue purchasing or selling shares in that listed company during the three days. For such investor, every time when a change in his shareholding reaches 5%, he is required to make disclosure (in the same manner as mentioned above) within three working days. From the day the disclosure obligation arises to two working days after the disclosure is made, the investor may not buy or sell the shares in the relevant Mainland listed company. 16 If a change in shareholding of the investor is less than 5% but results in the shares held or controlled by him falling below 5% of the relevant Mainland listed company, the investor is required to disclose the information within three working days. 9
Trading Precautions on Shanghai-Hong Kong Stock Connect No day trading is allowed; Pre-trade checking is in place so that a client must have his/her shares transferred to the EP s corresponding CCASS account before the commencement of trading on a trading day if he/she intends to sell the shares during a trading day; All trading must be conducted on SSE, i.e. no over-the-counter (OTC) or manual trades are allowed; Naked short selling is not allowed; Foreign shareholding restriction (including the forced-sale arrangement) is in place and EPs should have the right to force-sell client s shares upon receiving the forced-sale notification from SEHK; Investors should understand fully the Mainland rules and regulations in relation to short-swing profits, disclosure obligations and follow such rules and regulations accordingly; EPs may have the right to cancel client s orders in case of contingency such as hoisting of Typhoon Signal No 8 in Hong Kong; EPs may not be able to send in client s order cancellation requests in case of contingency such as when SEHK loses all its communication lines with SSE, etc and investors should still bear the settlement obligations if the orders are matched and executed; Clients must comply with SSE Rules and other applicable laws of Mainland China relating to Northbound trading; EPs may forward the client s identity to SEHK which may on-forward to SSE for surveillance and investigation purposes; If the SSE Rules are breached, or the disclosure and other obligations referred to in the SSE Listing Rules or SSE Rules is breached, SSE has the power to carry out an investigation, and may, through SEHK, require EPs to provide relevant information and materials and to assist in its investigation; SEHK may upon SSE s request, require an EP to reject orders from the client; Client needs to accept the risks concerned in Northbound trading, including but not limited to prohibition of trading SSE Securities, being liable or responsible for breaching the SSE Listing Rules, SSE Rules and other applicable laws and regulations; SSE may request SEHK to require EP to issue warning statements (verbally or in writing) to their clients, and not to extend Northbound trading service to their clients; and HKEx, SEHK, SEHK Subsidiary, SSE and SSE Subsidiary and their respective directors, employees and agents shall not be responsible or held liable for any loss or damage directly or indirectly suffered by an EP, its clients or any third parties arising from or in connection with Northbound trading or the CSC. Investor Compensation Fund will not cover any Northbound activities. 10
Major risks Not protected by Investor Compensation Fund Investors should note that any Northbound or Southbound trading under Shanghai-Hong Kong Stock Connect will not be covered by Hong Kong s Investor Compensation Fund. Hong Kong s Investor Compensation Fund is established to pay compensation to investors of any nationality who suffer pecuniary losses as a result of default of a licensed intermediary or authorised financial institution in relation to exchange-traded products in Hong Kong. Examples of default are insolvency, in bankruptcy or winding up, breach of trust, defalcation, fraud, or misfeasance. As for Northbound trading, according to the Securities and Futures Ordinance, the Investor Compensation Fund will only cover products traded in Hong Kong s recognised securities market (SEHK) and recognised futures market (Hong Kong Futures Exchange Limited, HKFE). Since default matters in Northbound trading via Shanghai-Hong Kong Stock Connect do not involve products listed or traded in SEHK or HKFE, so similar to the case of investors trading overseas securities, they will not be covered by the Investor Compensation Fund. For further information on Hong Kong s Investor Compensation Fund, please refer to the website of Investor Compensation Company Limited. For information on licensees and registered institutions under the SFC, please consult the Public Register of Licensed Persons & Registered Institutions in the SFC website. On the other hand, according to the Measures for the Administration of Securities Investor Protection Fund 證 券 投 資 者 保 護 基 金 管 理 辦 法, the functions of China Securities Investor Protection Fund (CSIPF, 中 國 投 資 者 保 護 基 金 ) include indemnifying creditors as required by China s relevant policies in case a securities company is subjected to compulsory regulatory measures including dissolution, closure, bankruptcy and administrative takeover by China Securities Regulatory Commission (CSRC) and custodian operation or other functions approved by the State Council. As far as Hong Kong investors participating in Northbound trading are concerned, since they are carrying out Northbound trading through securities brokers in Hong Kong and these brokers are not Mainland brokers, therefore they are not protected by CSIPF on the Mainland. 11
Quotas used up When the respective aggregate quota balance for Northbound and Southbound trading is less than the daily quota, the corresponding buy orders will be suspended on the next trading day (sell orders will still be accepted) until the aggregate quota balance returns to the daily quota level. Once the daily quota is used up, acceptance of the corresponding buy orders will also be immediately suspended and no further buy orders will be accepted for the remainder of the day. Buy orders which have been accepted will not be affected by the using up of the daily quota, while sell orders will be continued to be accepted. Depending on the aggregate quota balance situation, buying services will be resumed on the following trading day. Trading day Shanghai-Hong Kong Stock Connect will only operate on days when both markets are open for trading and when banks in both markets are open on the corresponding settlement days. So it is possible that there are occasions when it is a normal trading day for the Mainland market but Hong Kong investors cannot carry out any A-share trading. Investors should take note of the days Shanghai-Hong Kong Stock Connect is open for business and decide according to their own risk tolerance capability whether or not to take on the risk of price fluctuations in A-shares during the time when Shanghai-Hong Kong Stock Connect is not trading. Restrictions on selling imposed by front-end monitoring For investors who usually keep their A-shares outside of their brokers, if they want to sell certain A-shares they hold, they must transfer those A-shares to the respective accounts of their brokers before the market opens on the day of selling (T day). If they fail to meet this deadline, they will not be able to sell those A-shares on T day. The recalling of eligible stocks When a stock is recalled from the scope of eligible stocks for trading via Shanghai-Hong Kong Stock Connect for above-mentioned reasons, the stock can only be sold but restricted from being bought. This may affect the investment portfolio or strategies of investors. Investors should therefore pay close attention to the list of eligible stocks as provided and renewed from time to time by SSE and SEHK. Currency risks Hong Kong and overseas investor who holds a local currency other than RMB will be exposed to currency risk if he/she invests in a RMB product due to the need for the conversion of the local currency into RMB. During the conversion, you will also incur currency conversion costs. Even if the price of the RMB asset remains the same when you purchase it and when you redeem / sell it, you will still incur a loss when you convert the redemption / sale proceeds into local currency if RMB has depreciated. The above is only an overview of some of the risks related to Shanghai-Hong Kong Stock Connect. 12
Comparison Table of the Financial Terms between Mainland and HK English Hong Kong Terms Mainland Terms nominal price 按 盤 價 名 義 價 格 grey market price 暗 盤 買 賣 灰 市 交 易 deposit 按 金 押 金 ; 保 證 金 delisting 除 牌 摘 牌 ex-date 除 淨 日 除 權 日 long position 長 倉 或 好 倉 多 頭 倉 位 hedging 對 沖 對 沖 交 易 ; 套 利 交 易 ; 套 期 保 值 short position 短 倉 ; 淡 倉 空 頭 ; 短 倉 dividend 股 息 紅 利 ; 股 利 ; 股 息 stock code 股 份 代 號 股 票 代 碼 share registrar 股 份 過 戶 登 記 處 股 份 登 記 處 ; 證 券 登 記 機 構 warrant 窩 輪 ; 權 證 權 證 split 股 份 拆 細 股 份 拆 細 ; 分 拆 ; 分 割 scrip issue; issue of bonus share 紅 股 派 送 送 股 mutual fund 互 惠 基 金 共 同 基 金 sector 行 業 板 塊 settlement 交 收 交 割 ; 交 收 clearing 結 算 清 算 brokerage firm 經 紀 行 券 商 ; 證 券 商 short position 空 倉 空 倉 ; 空 頭 opening price 開 市 價 ; 開 盤 價 開 盤 價 格 pre-market opening session 開 市 前 議 價 時 段 集 合 競 價 時 段 open a position 開 倉 建 倉 placing order 落 盤 下 單 buy order 買 盤 買 單 委 托 ; 買 方 指 令 ; 買 入 委 托 sell order 賣 盤 賣 單 委 托 ; 賣 方 委 托 ; 賣 出 委 托 odd lot 碎 股 零 股 physical script 實 物 股 票 ; 實 股 實 券 board lot 手 買 賣 單 位 limit order 限 價 盤 限 價 委 托 subscription of new stock 新 股 認 購 申 購 新 股 stop order; stop-loss order 止 蝕 盤 止 損 委 托 13
Trading on Shanghai-Hong Kong Stock Connect through China Galaxy International Securities (Hong Kong) Co., Limited Client can use the exiting securities trading account to trade SSE A-shares under Shanghai-Hong Kong Stock Connect without having to open an extra account. Trading and Settlement The trading platform of trading SSE A-shares is same as the one to trade Hong Kong shares. Client doesn t need to download extra trading software to trade SSE A-shares. Trading Platform Quote Winner Qian Long Qian Long (Online Version) (PC Platform) (Mobile Platform) Trading on SSE A-Shares X Day trading is not allowed for Mainland A shares market. Therefore, clients who buy SSE A-shares on T-day can only sell on T+1 day or after. If client does not have sufficient RMB but have equivalent values of other currencies or sufficient trading limit, client can still place order. However, the client must deposit sufficient RMB before 5:00 p.m. on T Day for settling the transaction or submit the Currency Exchange Notification form to convert sufficient RMB for settlement. If client have insufficient RMB at 9:00 a.m. on settlement day, we will debit equivalent HKD amount at prevailing foreign exchange rate and convert to RMB for settlement. If client hold the SSE A-Shares in other securities firms or custodian banks and want to sell the A-Shares through us, client can submit the SI instruction to us for receive the A-Shares one day before selling. The instruction submitted before 4:30 p.m. will process on the same day, and the instruction submitted after 4:30 p.m. will process on next day. Only Free of Payment (FOP) instruction is accepted under Shanghai-Hong Kong Stock Connect and Delivery Versus Payment (DVP) will not be accepted and processed. 14
Example: Normal Settlement Days Example: Instruction Submit Day Submit Time 15/12/2014 16/12/2014 17/12/2014 Monday Tuesday Wednesday Before 4:30 p.m. Process day Can Trade - After 4:30 p.m. Process on next day Process day Can Trade Non Settlement Days Example: Instruction Submit Day Submit Time 24/12/2014 25/12/2014 to 28/12/2014 29/12/2014 30/12/2014 Half-day trading Saturdays, Sundays and Monday Tuesday days Public Holidays Settlement Settlement Non settlement Non settlement days days days days Before 4:30 p.m. Process on Process on Process day Can Trade next day next day After 4:30 p.m. Process on next day Process on next day Process day Can Trade * If the instruction submission day is non-settlement day (For example: Saturdays, Sundays, Public Holidays and Half-day trading days), the instruction will process on next day. Corporate Actions Hong Kong and overseas investors being the beneficial owners of SSE Securities will not be able to attend meetings in person or as proxy. Client can submit a voting instruction via us if any. 15
Fees and Taxes (in RMB) Item Rate/Amount Minimum Charged by Commission Fee 0.25% * RMB 80 China Galaxy International Handling Fee 0.00696% - SSE Securities Management Fee 0.002% - CSRC Transfer Fee 0.06% - China Clear Stamp Duty 0.1% of the consideration of a transaction on the seller - SAT * Commission fee is negotiable with Account Executive if transactions volume is sufficient Fees and taxes to be confirmed with the relevant regulators/authorities: Item Description Charged by New CCASS Fee A new fee for providing depository and nominee HKSCC services to CPs for SSE Securities Subject to SFC s approval Dividend Tax Applicable to cash dividend and bonus issue SAT Subject to clarification with SAT Capital Gain Tax Applicable to share disposal SAT Subject to clarification with SAT For other item, please refer to the Fee Schedules. Price Quote Client can get the free real-time quote by using the Qianlong (PC Platform) or Qianlong (Mobile Platform). The quote will be updated once every 5 seconds. If client need to apply the Level II real-time quote, the fee are 1,800 per annum. Trading Platform Quote Winner Qian Long Qian Long (Online Version) (PC Platform) (Mobile Platform) Free Real Time Quote (Updated once every 5 seconds ) Chargeable Real Time Quote (Level II) X X X 16
Screenshot of Trading Platform Qian Long (PC Platform) Main Page: Enter Buy Order: Enter Sell Order: 17
Order Confirmation: Order Successful Alert: Cancel Order: 18
Quote Winner (Online Version) Enter Buy Order: Enter Sell Order: 19
Order Confirmation: Cancel Order: 20
Frequently Asked Questions Please refer to HKEx s Frequently Asked Questions for Investors http://www.hkex.com.hk/eng/market/sec_tradinfra/chinaconnect/documents/investor_faq_en.pdf References HKEx Shanghai-Hong Kong Stock Connect Web-Site http://www.hkex.com.hk/eng/csm/chinaconnect.asp?langcode=en Shanghai-Hong Kong Stock Connect page on the Shanghai Stock Exchange website - Simplified Chinese Only http://www.sse.com.cn/marketservices/tradingservice/shhksc/ SSE Shanghai-Hong Kong Stock Connect Investor Education Web-Site - Simplified Chinese http://edu.sse.com.cn/col/shhkconnect/home/ Information Book for Investors http://www.hkex.com.hk/eng/market/sec_tradinfra/chinaconnect/documents/investor_book_en.pdf Information Brochure for Investors (Northbound Trading) http://www.hkex.com.hk/eng/market/sec_tradinfra/chinaconnect/documents/northbound_flyer_e.pdf Information Brochure for Investors (Southbound Trading) - Simplified Chinese Only http://www.hkex.com.hk/chi/market/sec_tradinfra/chinaconnect/documents/14072251%20hkex%20factsheet%20ju ly%202014(c)sim11sep1651.pdf Eligible Stocks Shanghai-Hong Kong Stock Connect List of Eligible Stocks for Northbound Trading http://www.hkex.com.hk/eng/market/sec_tradinfra/chinaconnect/documents/list%20of%20eligible%20stocks%20for %20Northbound%20Trading%20(Eng).pdf Shanghai-Hong Kong Stock Connect List of Eligible Stocks for Southbound Trading http://www.hkex.com.hk/eng/market/sec_tradinfra/chinaconnect/documents/list%20of%20eligible%20stocks%20for %20Southbound%20Trading%20(Eng).pdf A-share company announcements Shanghai Stock Exchange http://www.sse.com.cn/ China Securities Journal http://www.cs.com.cn/ Shanghai Securities News http://www.cnstock.com/ Securities Times http://www.stcn.com/ Securities Journal http://www.ccstock.cn/ China Galaxy International Securities (Hong Kong) Co., Limited 21