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Log onto Online Securities Trading platform now
App Store is a service mark of Apple Inc. Google play is a trademark of Google Inc.
Not having an Online Investment Account? Click here to open now.
The complete list of charges can be found in Service Charges Booklet, charges may be subject to change.
Northbound Trading Link (“Shanghai-Hong Kong Stock Connect” and “Shenzhen-Hong Kong Stock Connect”)
Southbound Trading Link
Participate in the growth of fast emerging economy in Mainland China
Diversify your investment portfolio with shares of the Mainland China markets¹ without the need to open an account in Mainland China
Capture new investment opportunities in Renminbi
Enjoy exclusive securities and cash settlement on trade day
The full list of eligible SSE and SZSE securities is published on the HKEx website and will be updated from time to time.
X Any shares which are not traded in RMB
X Initial public offering
X Any shares which are included in the “risk alert board” or under delisting arrangement2 (buy trades are prohibited, only sell trades are allowed)
X ChiNext Board of SZSE which is limited to institutional professional investors6
X SSE STAR Market which is limited to institutional professional Investors6
The northbound daily quota is set at RMB52 billion for each of Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect3
100 shares in buying order (buy orders must be in board lot, odd lot trading is only available for sell orders)4
1 million shares
A general price limit of +/-10%5 based on previous closing price
(all orders input must be at or within the price limit, otherwise, it will be rejected by SSE/SZSE)
RMB0.01 for ordinary share
RMB0.001 for ETF
Only allow limit order
RMB
Securities settlement: Trade day
Cash settlement: Trade day + 1 day
Standard Chartered clients enjoy:
Securities settlement: Trade day
Cash settlement: Trade day (cash settlement will take place on trade day at 7p.m.)
Day trade is not allowed
Prohibited from naked short selling
SZSE ChiNext Market is only for Hong Kong and international institutional professional investors6
SSE: STAR Market which is limited to institutional professional Investors6
China Connect may be operated and China Connect Securities may be traded on days as announced by SEHK from time to time.
• Online Banking: 0.2% (RMB45 minimum brokerage for each transaction)
• Designated Northbound Securities Trading Hotline: 0.3% (RMB135 minimum brokerage for each transaction)
Waived
0.00487% of the consideration of a transaction per side (0.004% for ETF)
0.002% of the consideration of a transaction per side (Waived for ETF)
0.001% of the consideration of a transaction per side (Waived for ETF)
0.002% of the consideration of a transaction per side
0.1% of the consideration of a transaction on the seller (Waived for ETF)
Waived
• All the above fees and levies will be collected from CCASS Participants’ designated bank accounts at day-end of Trade Day.
• The Ministry of Finance and State Administration of Taxation (“SAT”) in China have provided a temporary exemption to Hong Kong and foreign investors from the capital gain tax and business tax in relation to gains derived from trading of eligible SSE securities via Shanghai-Hong Kong Stock Connect. There is a risk that investors in SSE securities may be subject to capital gains tax and/or business tax in the future once the temporary exemption is no longer in force. Investors should consider this risk when investing in SSE securities.
• China Withholding Income Tax on Dividends will be withheld by issuers of SSE securities and ChinaClear upon dividend payment.
• For investors whose residing country has entered into a tax treaty with China which allows them enjoying a lower dividend tax rate, the investors may apply to the relevant tax authority for a refund of the differences.
• Please note that both stock and cash settlement of all China Connect Securities trading conducted through Standard Chartered will be settled on Trade Day.
• All the above fees and levies will be collected from CCASS Participants’ designated bank accounts at day-end of Trade Day.
• The Ministry of Finance and State Administration of Taxation (“SAT”) in China have provided a temporary exemption to Hong Kong and foreign investors from the capital gain tax and business tax in relation to gains derived from trading of eligible SSE securities via Shanghai-Hong Kong Stock Connect. There is a risk that investors in SSE securities may be subject to capital gains tax and/or business tax in the future once the temporary exemption is no longer in force. Investors should consider this risk when investing in SSE securities.
• China Withholding Income Tax on Dividends will be withheld by issuers of SSE securities and ChinaClear upon dividend payment.
• For investors whose residing country has entered into a tax treaty with China which allows them enjoying a lower dividend tax rate, the investors may apply to the relevant tax authority for a refund of the differences.
• Please note that both stock and cash settlement of all China Connect Securities stock trading conducted through Standard Chartered will be settled on Trade Day.
0.5% on dividend amount, minimum HKD30/RMB25, or dividend amount, whichever is lower
10% on dividend amount
0.5% on value of cash equivalent, minimum HKD15/RMB12
HKD30/RMB25 per collection
HKD5/RMB4.5 per board lot, minimum HKD30/RMB27
HKD200 per transaction (non-refundable)
• All the above fees and levies will be collected from CCASS Participants’ designated bank accounts at day-end of Trade Day.
• The Ministry of Finance and State Administration of Taxation (“SAT”) in China have provided a temporary exemption to Hong Kong and foreign investors from the capital gain tax and business tax in relation to gains derived from trading of eligible SSE securities via Shanghai-Hong Kong Stock Connect. There is a risk that investors in SSE securities may be subject to capital gains tax and/or business tax in the future once the temporary exemption is no longer in force. Investors should consider this risk when investing in SSE securities.
• China Withholding Income Tax on Dividends will be withheld by issuers of SSE securities and ChinaClear upon dividend payment.
• For investors whose residing country has entered into a tax treaty with China which allows them enjoying a lower dividend tax rate, the investors may apply to the relevant tax authority for a refund of the differences.
• Please note that both stock and cash settlement of all China Connect Securities stock trading conducted through Standard Chartered will be settled on Trade Day.
Waived
Waived
• All the above fees and levies will be collected from CCASS Participants’ designated bank accounts at day-end of Trade Day.
• The Ministry of Finance and State Administration of Taxation (“SAT”) in China have provided a temporary exemption to Hong Kong and foreign investors from the capital gain tax and business tax in relation to gains derived from trading of eligible SSE securities via Shanghai-Hong Kong Stock Connect. There is a risk that investors in SSE securities may be subject to capital gains tax and/or business tax in the future once the temporary exemption is no longer in force. Investors should consider this risk when investing in SSE securities.
• China Withholding Income Tax on Dividends will be withheld by issuers of SSE securities and ChinaClear upon dividend payment.
• For investors whose residing country has entered into a tax treaty with China which allows them enjoying a lower dividend tax rate, the investors may apply to the relevant tax authority for a refund of the differences.
• Please note that both stock and cash settlement of all China Connect Securities stock trading conducted through Standard Chartered will be settled on Trade Day.
Before you can begin trading, please visit any of our branches to sign-up for China Connect Securities Services.
For new securities clients, click here to open a securities account now.
SEHK monitors the usage of the Northbound Daily Quota on a real time basis. The calculation is as follow: Daily Quota Balance = Daily Quota – Buy Orders + Sell Trades + Adjustments^ The Daily Quota will be reset every day. Unused Daily Quota will NOT be carried over to the following day’s Daily Quota. When the Northbound Daily Quota Balance drops to zero or is exceeded during a continuous auction session (or closing call session for SZSE), no further buy orders will be accepted for the remainder of the day. SEHK will resume the Northbound buying service on the following trading day. When the Northbound Daily Quota Balance drops to zero or the Daily Quota is exceeded during the opening call auction session, new buy orders will be rejected. However, SEHK will again accept Northbound buy orders once the Northbound Daily Quota Balance resumes to a positive level before the end of the session. It should be noted that buy orders already accepted will not be affected by the Daily Quota being used up and will remain on the order book of SSE/SZSE unless otherwise cancelled by the relevant brokers. ^Daily Quota Balance will be increased when a) a buy order is cancelled; b) a buy order is rejected by the other exchange; or c) a buy order is executed at a better price.
Day trading is not allowed for Mainland market. Therefore, Hong Kong and overseas investors buying eligible SSE/SZSE securities on Trade Day can only sell the shares on or after Trade Day + 1 Day.
‘Investors must ensure they have sufficient shares in their accounts opened with the selling broker when placing sell orders. If the shares are kept in an account opened with another SEHK Exchange Participants or a custodian, investors must first transfer the shares to the selling broker before the market opens on the day of selling (Trade Day) in order to sell their shares on Trade Day.
In such a case, investors are only allowed to place sell order for the delisted SSE/SZSE securities, and are prohibited from further buying such SSE/SZSE securities. Unless such China Connect Securities is subsequently removed from the “risk alert board”, and it is accepted as an SSE/SZSE security if it remains as a constituent stock of the relevant indices or if its corresponding H share continues to be listed and traded on the SEHK (as appropriate). Under the following cases, investors will only be allowed to sell China Connect Securities but restricted from further buying if: a.the China Connect Securities subsequently ceases to be a constituent stock of the relevant indices; and/or b.the China Connect Securities is subsequently under “risk alert”; and/or c.the corresponding H share of the SSE/SZSE security subsequently ceases to be traded on SEHK; and/or d.the SZSE China Connect Securities, based on any subsequent periodic review, have a market capitalisation of less than RMB6 billion.
‘Currently, odd lot trading is only available for sell orders under Northbound Trading Link. Investor should note that all board lot and odd lot orders are both matched on the same platform on SSE/SZSE , and subject to the same share price. Hence, any Northbound buy trade executed may be matched with odd lot sell orders, resulting in odd lot trades.
Under Northbound Trading Link, investors are only allowed to trade on days where both markets are open for trading, and banking services are available in both markets on the corresponding settlement days. Examples:
| MAINLAND | HONGKONG | NORTHBOUND TRADING OPENS OR NOT? | |
| Day-1 | Business Day | Business Day | Yes |
| Day-2 | Business Day | Business Day | No – HK Market closes on money settlement day (Day-3) |
| Day-3 | Business Day | Public Holiday | No- HK market closes on trading day |
| Day-4 | Public Holiday | Business Day | No – Mainland market close |
China Connect Securities traded on the SSE/SZSE are subject to a price limit based on their previous closing price, including a ±10% price limit for stocks under normal circumstances and a ±5% price limit for stocks that are under special treatment (i.e. ST and *ST stocks) under risk alert. Northbound trading follows the same rule. In addition, SEHK sets a lower price limit of 3% on buy orders of all Northbound Trades. Buy order for a Northbound Trades at a price below its current best bid price (and if no current best bid price is available, the latest trade price, and if that is not available, the previous closing price) by a certain percentage will be rejected by the China Stock Connect system. Such price limit does not apply during the Opening Call Auction session of SSE/SZSE.
1.Trading arrangement under severe weather conditions on the Mainland – If SSE/SZSE is suspended due to bad weather, there will be no trading on the Northbound and Hong Kong investors and Securities Brokers will be informed by SEHK.
2.Trading arrangement under severe weather conditions in Hong Kong
| SCENARIOS | NORTHBOUND TRADING LINK ARRANGEMENT | SHK ARRANGEMENT |
| T8/Black rainstorm issued before HK market opens (i.e. before 9:00 a.m.) and discontinued after 12L00 Noon | Not open | Not open |
| T8 issued between 9:00 a.m. and 9:15 a.m. | Not open | Trading terminates after Pre-opening Session |
| Black rainstorm issued after HK market opens (i.e: 9:00 a.m/) | Arrangement to be announced in due course | Trading terminates in 15 minutes |
| T8/Black rainstorm discontinued at or before 12:00 noon | Trading continues as normal | Trading continues as normal |
| T8/Black rainstorm discontinued or before 12:00 noon | Trading resumes after 2 hours | Trading resumes after 2 hours |
| T8/Black rainstorm discontinued after 12:00 noon | Not open | Not open |
At the initial stage of Shenzhen Connect, investors eligible to trade shares that are listed on the ChiNext Board of SZSE under Northbound trading will be limited to institutional professional investors. Institutional Professional Investor, as defined under paragraph 15.2 of the Code of Conduct for Persons Licensed by or registered with the SFC, means a person falling under paragraphs (a) to (i) of the definition of “professional investors” in section 1 of Part 1 of Schedule 1 to the Securities and Futures Ordinance.
All customers’ holdings of China Connect Securities purchased via Northbound Trading Link will be kept at the Central Clearing and Settlement System (“CCASS”). Since SSE/SZSE securities are issued in scripless form, therefore, physical deposits and withdrawals of such securities through Standard Chartered Bank into/from the CCASS Depository will not be available. Investors can only hold eligible SSE/SZSE securities through their brokers/custodians. Their ownership of such is reflected in their brokers/custodians’ own records such as client statements. Please also be noted that Standard Chartered Bank will not provide custodial service for eligible SSE/SZSE securities which are transferred-in from securities brokerage firms in Mainland China.
Investors should note that the current Investor Compensation Fund will not cover any Northbound and Southbound Trading activities under Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect (“China Connect”).
Under the current PRC rules, when an investor holds or controls up to 5% of the issued shares of an SSE/ SZSE -listed issuer, the investor is required to disclose his/her interest within three working days. Such an investor may not buy or sell the shares in the listed issuer within the three-day period. Besides, for such an investor, every time when there is an increase or decrease in his/her shareholding by 5%, he/she is required to make a disclosure within three working days. Note: The 5% change means the actual magnitude of the net change of its shareholding as a percentage of the total issued share capital of the company (e.g. an increase from 10% to 15% or decrease from 10% to 5%).
1. The full list of SSE/SZSE securities will be published on the HKEx website and will be updated from time to time.
2. According to the SSE/SZSE Listing Rules, any SSE/SZSE-listed company which is in the delisting process, or which operation is unstable due to financial or other reasons, to the extent that it is running the risk of being delisted or exposing investors’ interest to undue damage, the SSE/SZSE-listed company will be earmarked and traded on the “risk alert board”.
3. For more details about the mechanics of the investment quota, please visit HKEx’s official website.
4. Investor should note that all buy trades under Northbound Trading Link may be matched with different odd lot sell orders, resulting in odd lot trades.
5. For SSE/SZSE securities under special treatment in the risk alert board, the price limit will be +/- 5%.
6. Institutional professional investors as defined in the relevant Hong Kong rules and regulations.
Risk Disclosure Statement for Securities Services:
For China Connect only:
Important Notes of SMS/Email Communications:
Important Notes of Online Securities Trading and SC Equities:
Securities Terms and Conditions:
