What is Shenzhen-Hong Kong Stock Connect?

Shenzhen-Hong Kong Stock Connect (SZ-HK Stock Connect) is a securities trading and clearing links programme developed by The Stock Exchange of Hong Kong Limited (SEHK), the Shenzhen Stock Exchange (SZSE), Hong Kong Securities Clearing Company Limited (HKSCC) and China Securities Depository and Clearing Corporation Limited (ChinaClear) for the establishment of mutual market access between the Hong Kong and Shenzhen.

Under SZ-HK Stock Connect, SEHK, a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), and SZSE will establish mutual order-routing connectivity and related technical infrastructure to enable investors of their respective markets to trade designated equity securities listed in the other’s market.

HKSCC, also a wholly-owned subsidiary of HKEx, and ChinaClear will be responsible for the clearing and settlement of trades executed through SZ-HK Stock Connect and the provision of depository, nominee and other related services to Hong Kong and international investors, and investors in the Mainland, respectively.

 

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Interested in more details of SZ-HK Stock Connect?

Please call our Customer Service Hotline on (852) 2822 5001 or email to enquiry@SHKdirect.com.

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Remarks:

  • The above information and materials are sourced from the prevailing information provided by HKEx and may be amended or changed as the implementation of Shenzhen-Hong Kong Stock Connect and promulgation or preparation of the relevant rules, regulations, agreements and other documentation progresses.
  • Information of Shenzhen-Hong Kong Stock Connect will be updated on the HKEX website from time to time. Please visit HKEx's official website for more details.
  • The above information and materials do not contain 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 the above information and materials.

 

Key Features of Shenzhen-Hong Kong Stock Connect

Investors can trade in SZSE Securities through Shenzhen-Hong Kong Stock Connect (i.e. Northbound trading). Similar reciprocal arrangements is adopted for Southbound trading, Mainland investors can trade in SEHK Securities under Shenzhen-Hong Kong Stock Connect.

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Eligible Investors and Securities

Eligible Investors

All retail and institutional investors outside Mainland China are eligible to participate in Shenzhen-Hong Kong Stock Connect.

Eligible Securities (Northbound trading, SZSE securities)

~880 stocks for SZ Northbound, covering:

  • Constituents of SZSE Component index
  • Constituents of SZSE Small/Mid Cap Innovation Index with market capitalisation of not less than RMB6 billion
  • SZSE-SEHK A+H shares
  • SZSE ChiNext PRICE INDEX
    - Only open to institutional professional investors initially

 

Quota

Aggregate Quota

No aggregate Quota

Daily Quota


RMB13 billion

  • Calculated Real-time during trading hours
  • Balance: Daily Quota – Buy Trades + Sell Trades + Adjustments (e.g. Buy Order cancelled, Buy Order rejected by SZSE & SSE, Buy Order executed at a better price)

If Daily Quota balance ≤ 0:

  • During opening call auction (Pre‐opening): Reject new buy orders until quota balance becomes positive (e.g. due to Buy Order cancellation)
  • During continuous auction (continuous trading): Suspend buy order for the remaining of the day
  • Buy orders already input before suspension will not be affected

Trading Rules

Trading Hours

Northbound Trading will follow SZSE & SSE’s trading hours. However, SEHK will accept Northbound orders from SEHK participants five minutes before the Mainland market session opens in the morning and in the afternoon

Trading Sessions SSE SZSE Input orders into CSC
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 13:00 – 14:57 12:55-15:00
Closing Call Auction   14:57 – 15:00
  • 09:20-09:25: SSE will not accept order cancellation
  • 09:20-09:25 & 14:57-15:00: SZSE will not accept order cancellation
  • 09:10-09:15 & 09:25-09:30 & 12:55-13:00: Orders and order cancellations can be input into CSC but will not be processed by SZSE & SSE until their market open
  • Orders that are not executed during the opening call auction session will automatically enter the continuous auction session
Settlement Cycle
  • Securities settlement: Trade day (T)
  • Money settlement: T+1
Currency
  • Trading and settlement: RMB


Price Limit:

  • ±10% on previous closing price
  • Any orders with price beyond the price limit will be rejected
  • The upper and lower price limit will remain the same intra-day

Other Rules:

  • No day trades
  • 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
  Mainland Hong Kong Open for Northbound Trading?
Day 1 Business Day Business Day Yes
Day 2 Business Day Business Day No (HK market closes on money settlement day)
Day 3 Business Day Public Holiday No (HK market closes on trading day)
Day 4 Public Holiday Business Day No (Mainland market closes)

Remarks:

  • The above information and materials are sourced from the prevailing information provided by HKEx and may be amended or changed as the implementation of Shenzhen-Hong Kong Stock Connect and promulgation or preparation of the relevant rules, regulations, agreements and other documentation progresses.
  • Information of Shenzhen-Hong Kong Stock Connect will be updated on the HKEX website from time to time. Please visit HKEx's official website for more details.
  • The above information and materials do not contain 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 the above information and materials.

 

Starting from now, a new customer who successfully opens a trading account through SHK Direct may enjoy 7 unbidable offers!

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SZ-HK Stock Connect Account Opening Offers

1. Provides all necessary documents and cheque for during the account oppening appointment, rewards up to HK$500 SOGO Gift Certificate instantly^

2. To enjoy 6 months of commission-free trades up to HKD28,888 on Shanghai A Shares, Shenzhen A Shares, HK Shares & US Shares^

3. Open a margin account to enjoy 12 months of unlimited commission-free trades^

4. A flat commission rate of 0.038% per trade (HK Shares only)*

5. Free streaming real-time quotation services (Value: HK$298/month)*

6. As low as HKD 8 per trade on Hong Kong Hang Seng Index Futures**

7. As low as USD 12 per trade on Global Futures**

 

Note: Terms & Conditions apply

^The promotion till on 30 December 2016. Please click here for the related T&C

*Only applicable for AYCT Pro Programme. Please click here for details

**Please refer to our fees and charges page for details.

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 Sun Hung Kai Financial is the winner of the Capital Magazine’s Outstanding Enterprise Awards ”The Outstanding Securities” in 2011-2016. The winner of Sing Tao Daily's Sing Tao Service Award - “The Best “Securities Firm” Service Award” awards in 2007-2008, 2011-2015. These accolades have been matched with awards from The Asset, BENCHMARK and many others. To view other recent recognitions and awards, please click here to visit our corporate website.

 

 

Interested in more details of SZ-HK Stock Connect?

 Please call our Customer Service Hotline on 

(852) 2822 5001 (Hong Kong) 
(86) 4001 208 828 (Mainland)

Alternatively, you can drop us an email at enquiry@SHKdirect.com or visit our office at 28/F, Lee Garden One, 33 Hysan Avenue, Causeway Bay, Hong Kong