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公司簡介 >

Can I subscribe for SSE Securities initial public offering (“IPO”)?

No. Northbound trading investors cannot participate in SSE’s IPO activities.


What is the settlement arrangement for Northbound Trading?

Northbound Trading will follow the A share settlement cycle:
Securities settlement: on T day
Money settlement: on T+1 day

Northbound trading investors are not allowed to sell the stocks before T+1 day.


Under what circumstances will the purchase of SSE Securities are suspended?

Northbound trading investors are not able to buy SSE Securities under several circumstances, including but not limited to:

a) the SSE Securities cease to be a constituent stock of the relevant indices;
b) the SSE Securities are under “risk alert”;
c) the corresponding H share of the SSE Securities cease to be traded on SEHK;
d) the Daily Quota Balance drops to zero or is exceeded;
e) the Aggregate Quota Balance is less than Daily Quota.


How can investors obtain the latest issuers announcements of SSE?

SSE-listed issuers will publish their announcements through the SSE website and four officially appointed newspapers (both the printed papers and their websites): the Shanghai Securities News, Securities Times, China Securities Journal and Securities Daily.

SSE-listed issuers are only required to publish corporate documents in simplified Chinese, and English translation will not be available.


What is the charge for trading and settling SSE Securities?

Hong Kong and overseas investors trading SSE Securities under Shanghai-Hong Kong Stock Connect are subject to SSE’s Handling Fee and Securities Management Fee, together with “Transfer Fee” payable to China Securities Depository and Clearing Corporation Limited (“China Clear”) and Hong Kong Securities Clearing Company Limited (“HKSCC”).  Investors should note that certain existing Central Clearing and Settlement System (“CCASS”) fees still apply, including stock settlement fee for settlement instructions and money settlement fee.  HKSCC has also imposed a Portfolio Fee on its CCASS Participants for providing depository and nominee services for their SSE Securities held in CCASS.

Fees and levies related to Northbound trades under Shanghai-Hong Kong Stock Connect are as follows:

China Shanghai A Shares (Shanghai-Hong Kong Stock Connect)



Charged by


0.15%; Min $50.00Rmb


Handling Fee

0.00487% of the consideration of a transaction per side


Securities Management Fee

0.002% of the consideration of a transaction per side

China Securities Regulatory Commission (“CSRC”)

Transfer Fee

0.002% of the face value* of a transaction per side

0.002% of the consideration

of a transaction per side
(Waive 50% of the fee until 12 August 2016)

China Clear




Stamp Duty

0.1% of the consideration of a transaction on the seller

State Administration of Taxation

Dividend tax



Income tax



Sales tax




Are Hong Kong and overseas investors required to pay taxes on cash dividend and/or bonus shares of SSE Securities?

According to the notice jointly issued by Ministry of Finance, the State Administration of Taxation and CSRC on 14 November 2014, Hong Kong and overseas investors are required to pay tax on cash dividend and/or bonus shares of SSE securities at a standard rate of 10%, which will be withheld and paid to the relevant tax authority by the respective listed companies. For those Hong Kong and overseas investors whose residing country has entered into a tax treaty with mainland China which allows them enjoying a lower dividend tax rate, may apply to the competent tax authorities for relevant treatment under the tax treaties (arrangements) in person or through a proxy or a withholding agent.  Upon verification by the tax authority, the difference between the tax levied and the amount of tax payable as calculated at the tax rate under the tax treaties (arrangements) will be refunded.


Will the investment made under Shanghai-Hong Kong Stock Connect be protected by Hong Kong’s Investor Compensation Fund?

Current Investor Compensation Fund will not cover any Northbound activities.

Hong Kong investors participating in the Shanghai-Hong Kong Stock Connect through SEHK Participants will continue to be protected by Hong Kong laws. Similar to any overseas investment which involves a sub-custody arrangement, investors will also be facing the counterparty risks of any additional parties along the value chain, and in this case ChinaClear which is the central registration company in the Mainland. Similarly for the trading and settlement activities, Hong Kong investors will continue to deal with SEHK Participants and be protected by the Securities and Futures Ordinance.


How can I obtain more information about Shanghai-Hong Kong Stock Connect?

You can obtain more information on updated rules of Shanghai-Hong Kong Stock Connect in SEHK website and SSE website



What is the contingency arrangement under severe weather conditions?

Detailed arrangement is available on the HKEx website