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        A-shares market rules

        China securities markets refer to the Shanghai Stock Exchange and the Shenzhen Stock Exchange.

        The Shanghai Stock Exchange (SSE) consists of the Main Board and the STAR Market. Most of the companies listed on the Main Board are central and other state-owned enterprises, while new listings are relatively few. Companies listed on the STAR Market are mostly high-tech companies focusing on such areas as new materials, new energy and biomedicine.

        The Shenzhen Stock Exchange (SZSE) has two components: the Main Board and the ChiNextMarket. Companies listed on the SZSE are mostly relatively smaller-scale private companies or joint ventures. Newlistings are many.

        The trading rules of the SSE and SZSE are as follows:

        1. Trading Hours

        Trading Session

        Beijing Time

        Opening Call Auction


        Continuous Auction



        Closing Call Auction


        2. Trading Rules

        2.1 Trading and Settlement Mechanism

        The current A-share trading system employs the"T+1"trading and settlement mechanism with an intraday change limit of 10% (5% for stockswith a "risk alert")

        2.2 Order Matching Mechanism

        Orders are matched based on the principle of price priority. When prices are the same, orders that are placed earlier will be matched first.

        2.3 Trading Unit

        The trading unitin the Chinese securities market is "lot", each of which consists of 100 shares. For buy orders, it is only possible to enter a number of 100 shares or a multiple of 100. An odd lot may occur when a buy order is not fully filled or after a stock dividend. Odd lots can be sold by placing a sell order but not bought.

        3. Trading Products

        The main financial products available for trading in the Chinese securities market include stocks and their depositary receipts, securities investment funds, bonds, warrants, and asset-backed securities.

        This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors.  It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information having regard to your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty as to its adequacy, completeness, accuracy or timeliness for any particular purpose of the above content.