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Measures of the Shenzhen Stock Exchange for the Implementation of Shenzhen-Hong Kong Stock Connect (2018 Revision) [Revised]
深圳证券交易所深港通业务实施办法(2018修订) [已被修订]
【法宝引证码】

Measures of the Shenzhen Stock Exchange for the Implementation of Shenzhen-Hong Kong Stock Connect 

深圳证券交易所深港通业务实施办法

(Issued on September 30, 2016 and revised according to the Notice of the Shenzhen Stock Exchange on Revising Articles 24 and 109 of the Measures of the Shenzhen Stock Exchange for the Implementation of Shenzhen-Hong Kong Stock Connect on September 7, 2018) (2016年09月30日发布,根据2018年09月07日《深圳证券交易所关于修改<深圳证券交易所深港通业务实施办法>第二十四条、第一百零九条的通知》修订)

Chapter I General Provisions 

第一章 总则

Article 1 For the purposes of regulating the implementation of Shenzhen-Hong Kong Stock Connect, preventing risks, and protecting the lawful rights and interests of investors, these Measures are developed in accordance with the Several Provisions of the China Securities Regulatory Commission on the Transaction Interconnection Mechanism for the Mainland and Hong Kong Stock Markets (hereinafter referred to as the “Provisions on Interconnection”), the Trading Rules of the Shenzhen Stock Exchange (hereinafter referred to as the “Trading Rules”), the Member Management Rules of the Shenzhen Stock Exchange (hereinafter referred to as the “Member Management Rules”), and other relevant business rules of the Shenzhen Stock Exchange (“SZSE”).   第一条 为规范深港通业务开展,防范风险,保护投资者合法权益,根据中国证监会《内地与香港股票市场交易互联互通机制若干规定》(以下简称“ 互联互通规定)”、《深圳证券交易所交易规则》(以下简称“ 交易规则)”、《深圳证券交易所会员管理规则》(以下简称“ 会员管理规则)” 及深圳证券交易所(以下简称“本所”)其他相关业务规则,制定本办法。
Article 2 Investors, members of the SZSE, the securities trading service companies formed by the Stock Exchange of Hong Kong Limited (“SEHK”) (hereinafter referred to as “securities trading service companies of the SEHK”), the securities trading service companies formed by the SZSE (hereinafter referred to as “securities trading service companies of the SZSE”), and other market players that participate in trading under Shenzhen-Hong Kong Stock Connect and relevant activities shall comply with these Measures.   第二条 投资者、本所会员、香港联合交易所有限公司(以下简称“联交所” 在深圳设立的证券交易服务公司)(以下简称“联交所证券交易服务公司”)、本所设立的证券交易服务公司(以下简称“本所证券交易服务公司”)及其他市场主体参与深港通交易及相关活动,应当遵守本办法。
The Trading Rules, the Member Management Rules, and other relevant business rules of the SZSE shall apply to the matters on trading under northbound trading link under Shenzhen-Hong Kong Stock Connect (hereinafter referred to as “trading under NTL”) (excluding matters on investors' instructions for trading in securities) and instructions for trading under southbound trading link under Shenzhen-Hong Kong Stock Connect (hereinafter referred to as “trading under STL”), client management of members of the SZSE, and other matters, if they are not set out in these Measures. 深股通交易事项(投资者证券买卖委托事项除外)和港股通交易的委托、本所会员客户管理等事项,本办法未规定的,适用《交易规则》、《会员管理规则》和本所其他相关业务规则。
Article 3 The SZSE shall conduct self-regulatory management of trading under Shenzhen-Hong Kong Stock Connect and relevant activities.   第三条 本所对深港通交易及相关活动实施自律管理。
Chapter II Trading under NTL 

第二章 深股通交易

Section 1 Participation in Northbound Trading Link under Shenzhen-Hong Kong Stock Connect (“NTL”) by Securities Trading Service Companies of the SEHK 

第一节 联交所证券交易服务公司参与深股通业务

Article 4 A securities trading service company of the SEHK that participates in NTL shall apply for being a trading participant of the SZSE and obtaining a trading unit, and shall abide by the relevant provisions of the SZSE on trading participants.   第四条 联交所证券交易服务公司参与深股通业务,应当申请成为本所交易参与人并取得交易单元,遵守本所对交易参与人的相关规定。
The securities trading service companies of the SEHK are not members of the SZSE, and shall not enjoy the rights of members of the SZSE as prescribed by laws, administrative regulations, departmental rules, regulatory documents, the Constitution of the Shenzhen Stock Exchange, the Member Management Rules, and other relevant provisions. 联交所证券交易服务公司不是本所会员,不享有法律、行政法规、部门规章、规范性文件和《深圳证券交易所章程》、《会员管理规则》等规定的本所会员权利。
Article 5 To apply for becoming a trading participant, a securities trading service company of the SEHK shall file the following documents:   第五条 联交所证券交易服务公司申请成为本所交易参与人,应当提交下列文件:
(1) A written application and a letter of commitment. (一)申请书、承诺书;
(2) Relevant approval documents of the China Securities Regulatory Commission (“CSRC”) and the Securities and Futures Commission of Hong Kong (“SFC”). (二)中国证监会、香港证券及期货事务监察委员会相关批准文件;
(3) Its business license for enterprise legal person. (三)企业法人营业执照;
(4) Its bylaws. (四)公司章程;
(5) The management rules and technical arrangements on NTL, and arrangements on entrusting the SEHK to assume functions relating to NTL. (五)深股通业务管理制度、技术安排,以及委托联交所承担深股通业务相关职责的安排;
(6) The personal information of directors, supervisors and senior executives. (六)董事、监事、高级管理人员的个人资料;
(7) A letter of commitment, technical standards and other requirements regarding the SEHK participants' participation in NTL. (七)联交所参与者参与深股通业务的承诺书文本、技术标准及其他要求;
(8) The NTL settlement agreement between the securities trading service company of the SEHK and Hong Kong Securities Clearing Company Limited (“HKSCC”). (八)联交所证券交易服务公司与香港中央结算有限公司(以下简称“香港结算” )的深股通结算协议;
(9) A list of the SEHK participants that plan to engage in NTL, and an explanation on the aforesaid participants' compliance with the technical standards and other requirements. (九)拟开展深股通业务的联交所参与者名单,以及上述联交所参与者符合技术标准及其他要求的情况说明;
(10) The methods and standards for the collection of expenses relating to NTL. (十)与深股通有关的费用收取方式和标准;
(11) Other documents required by the SZSE. (十一)本所要求的其他文件。
Article 6 A securities trading service company of the SEHK shall place SEHK participants' orders of trading under NTL as instructed by investors to the SZSE and assume corresponding trading responsibilities.   第六条 联交所证券交易服务公司将联交所参与者根据投资者委托进行深股通交易的订单向本所申报,并承担相应的交易责任。
After an order of trading under NTL is executed on the SZSE, a securities trading service company of the SEHK shall accept the trading results, accept the execution confirmation, and send it to the relevant SEHK participant and HKSCC. 深股通交易申报在本所达成交易后,联交所证券交易服务公司应当承认交易结果,接受成交回报并发送给相关联交所参与者和香港结算。
A securities trading service company of the SEHK shall administer the trading under NTL of SEHK participants, and take necessary measures against violations in NTL according to the SZSE's requirements. 联交所证券交易服务公司应当对联交所参与者的深股通交易行为进行管理,并根据本所要求对深股通违规交易行为采取必要的措施。
Article 7 A securities trading service company of the SEHK may entrust the SEHK to perform relevant functions prescribed in these Measures on its behalf, but it shall also assume the liability for failure to adequately and appropriately perform relevant functions.   第七条 联交所证券交易服务公司可以委托联交所代为履行本办法规定的相关职责,但仍应承担相关职责未充分、适当履行的责任。
Article 8 A securities trading service company of the SEHK shall develop measures for controlling risks in NTL, strengthening internal controls, and preventing business risks.   第八条 联交所证券交易服务公司应当建立深股通业务风险控制措施,加强内部控制,防范业务风险。
Article 9 A securities trading service company of the SEHK shall develop the technical standards and other requirements for SEHK participants' participation in NTL, and test and evaluate the technical systems of SEHK participants that plan to engage in NTL.   第九条 联交所证券交易服务公司应当制定联交所参与者参与深股通业务的技术标准及其他要求,并对拟开展深股通业务的联交所参与者的技术系统进行测试评估。
Article 10 A securities trading service company of the SEHK shall require a qualified SEHK participant to sign a letter of commitment on NTL, including but not limited to the following contents: it will comply with the relevant laws, administrative regulations, departmental rules, regulatory documents and business rules of the mainland and Hong Kong; accept and implement the relevant requirements raised by the securities trading service company of the SEHK based on the aforesaid provisions and those agreed upon by both parties, require its clients to accept and implement the relevant requirements through contracts or other arrangements; accept and, through contracts or other arrangements, require its clients to accept the relevant provisions of these Measures and other business rules of the SZSE on exempting the liability of the SZSE.   第十条 联交所证券交易服务公司应当要求符合条件的联交所参与者签署深股通业务承诺书,承诺书应当包括但不限于以下内容:遵守内地和香港相关法律、行政法规、部门规章、规范性文件和业务规则;认可并执行联交所证券交易服务公司基于前述规定和双方约定对其提出的相关要求,以及通过合同或者其他安排要求其客户认可并执行相关要求;认可并通过合同或者其他安排要求其客户认可本办法及本所其他业务规则关于本所责任豁免的相关规定。
Article 11 A securities trading service company of the SEHK shall provide necessary convenience and guidance for NTL investors and SEHK participants to understand the relevant laws, administrative regulations, departmental rules, regulatory documents, business rules, business flows, methods and standards for the collection of fees, and other information.   第十一条 联交所证券交易服务公司应当为深股通投资者、联交所参与者了解相关法律、行政法规、部门规章、规范性文件和业务规则、业务流程、费用收取方式及标准等信息,提供必要的便利和指引。
Article 12 A securities trading service company of the SEHK shall comply with the relevant laws, administrative regulations, departmental rules, regulatory documents and business rules of the mainland.   第十二条 联交所证券交易服务公司应当遵守内地相关法律、行政法规、部门规章、规范性文件和业务规则。
A securities trading service company of the SEHK shall take appropriate means to urge SEHK participants and require such participants to urge their clients to comply with the relevant laws, administrative regulations, departmental rules, and regulatory documents of the mainland and the SZSE's business rules, and require SEHK participants to sufficiently disclose to clients NTL risks and the risks of assuming liability for violation of laws and regulations due to violation of the aforesaid provisions. 联交所证券交易服务公司应当采取适当方式,督促联交所参与者并要求联交所参与者督促其客户遵守内地相关法律、行政法规、部门规章、规范性文件和本所业务规则的规定,并要求联交所参与者向客户充分揭示深股通交易风险以及因违反前述规定承担违法或违规责任的风险。
Article 13 In the case of any change in the contents of the materials submitted by a securities trading service company of the SEHK to the SZSE according to Article 5 of these Measures, it shall submit updated materials to the SZSE within three NTL trading days after the change.   第十三条 联交所证券交易服务公司按照本办法第五条向本所提交的材料内容发生变化的,应当在变更发生后3个深股通交易日内向本所提交更新材料。
A securities trading service company of the SEHK shall provide a report on the operation of NTL according to the SZSE's requirements. 联交所证券交易服务公司应当按照本所要求提供深股通业务运行相关情况的报告。
Article 14 When a securities trading service company of the SEHK has any major event that affects or may affect its business operations, it shall immediately report to the SZSE to state the cause of the event, the current status, the possible consequences and the countermeasures.   第十四条 联交所证券交易服务公司发生影响或者可能影响其业务运行的重大事件时,应当立即向本所报告,说明事件的起因、目前的状态、可能产生的后果和应对措施。
Article 15 A securities trading service company of the SEHK shall appropriately keep all kinds of documents and materials formed in the performance of functions prescribed in these Measures, and take appropriate means to require SEHK participants to appropriately keep materials on NTL clients, the records of instructions and order routing activities, and other materials for not less than 20 years.   第十五条 联交所证券交易服务公司应当妥善保存履行本办法规定职责形成的各类文件、资料,并采取适当方式要求联交所参与者妥善保存深股通客户资料及其委托和申报记录等资料,保存期限不少于20年。
Section 2 Stocks for NTL 

第二节 深股通股票

Article 16 Stocks for NTL include:   第十六条 深股通股票包括以下范围内的股票:
(1) SZSE Constituent Index and SZSE Small/Mid Cap Innovation Index stocks which each have a daily average market capitalization of not less than six billion yuan in the six months before the deadline for periodical adjustment review, if listed for less than six months, market capitalization is calculated based on the actual time of listing. (一)深证成份指数及深证中小创新指数的成份股,且成份股定期调整考察截止日前六个月A股日均市值不低于人民币60亿元,上市时间不足六个月的按实际上市时间计算市值;
(2) A-shares listed on the SZSE by companies listed on both SZSE and SEHK. (二)A+H股上市公司在本所上市的A股。
Stocks within the scope prescribed in items (1) and (2) of the preceding paragraphs falling under one of the following circumstances shall not be included in stocks for NTL: 前款第(一)、第(二)项规定范围内的股票存在下列情形之一的,不纳入深股通股票:
(a) stocks to which the SZSE assigns a risk alert (i.e. ST stocks, *ST stocks and other stocks); (一)被本所实施风险警示的股票(即ST、*ST等股票);
(b) stocks whose listing on the SZSE is suspended; (二)被本所暂停上市的股票;
(c) stocks during the delisting arrangement period; (三)退市整理期股票;
(d) stocks quoted and traded in foreign currencies (B shares); (四)以外币报价交易的股票(即B股);
(e) other special circumstances as determined by the SZSE. (五)本所认定的其他特殊情形。
With the approval of the regulatory authority, the SZSE may adjust the scope of stocks for NTL. 经监管机构批准,本所可以调整深股通股票的范围。
Article 17 Where any stock listed on the SZSE other than stock for NTL falls into the scope prescribed in items (a) and (b) of paragraph (1) of Article 16 and items (a) to (e) of paragraph (2) of Article 16 of these Measures due to adjustment to the constituent stocks of relevant index or any other reason, it shall be included in the stocks for NTL.   第十七条 深股通股票之外的本所上市A股因相关指数实施成份股调整等原因,导致属于本办法第十六条第一款第(一)、第(二)项规定范围且不属于第十六条第二款第(一)至第(五)项规定范围的,调入深股通股票。
Where a SEHK-listed company seeks A-share listing on the SZSE, or a SZSE-listed company seeks H-share listing on the SEHK, or a company seeks A-share and H-share listing on the SZSE and the SEHK on a same day, its A-share shall be included in stocks for NTL after the lapse of ten trading days of listing of the A-share and the end of the stabilizing period of the corresponding H-share. 联交所H股上市公司在本所上市A股,或者本所A股上市公司在联交所上市H 股,或者公司同日在本所和联交所上市A股和H股的,其A股在上市满10个交易日且相应H股价格稳定期结束后调入深股通股票。
Article 18 Where any stock for NTL no longer falls into the scope prescribed in items (a) and (b) of paragraph (1) of Article 16 or items (a) to (e) of paragraph (2) of Article 16 of these Measures due to adjustment to the constituent stocks of relevant index or any other reason, it shall be removed out of stocks for NTL.   第十八条 深股通股票因相关指数实施成份股调整等原因,导致不再属于本办法第十六条第一款第(一)、第(二)项规定范围或者属于第十六条第二款第(一)至第(五)项规定范围的,调出深股通股票。
Article 19 The daily average market capitalization standards for A-shares in item (a) of paragraph (1) of Article 16 of these Measures shall only apply at the time of the periodical adjustment to the relevant index constituent stocks, and the relevant stocks shall be included in or removed out of the stocks for NTL on the implementation date of periodical adjustment.   第十九条 本办法第十六条第一款第(一)项中的A股日均市值标准仅在相关指数成份股定期调整时执行,相关股票在定期调整实施日调入或者调出深股通股票。
Constituent stocks meeting the market capitalization standards shall be determined by the SZSE. 符合市值标准的成份股由本所确定。
Article 20 A securities trading service company of the SEHK shall announce the list of stocks for NTL through the website designated by it, and the time when relevant stocks are included in or removed out of stocks for NTL shall be the time announced by the securities trading service company of the SEHK.   第二十条 联交所证券交易服务公司通过其指定网站公布深股通股票名单,相关股票调入或者调出深股通股票的生效时间以联交所证券交易服务公司公布的时间为准。
Section 3 Particular Trading Matters 

第三节 交易特别事项

Article 21 Stocks for NTL shall be quoted and traded in RMB.   第二十一条 深股通股票以人民币报价和交易。
Article 22 NTL trading days and trading hours shall be announced by a securities trading service company of the SEHK on the website designated by it.   第二十二条 深股通交易日和交易时间由联交所证券交易服务公司在其指定网站公布。
Article 23 Auction trading shall be adopted in trading under NTL, unless it is otherwise provided for by the SZSE.   第二十三条 深股通交易采用竞价交易方式,本所另有规定的除外。
Article 24 Limit orders shall be adopted in trading under NTL, unless as otherwise prescribed by the SZSE.   第二十四条 深股通交易申报采用限价申报,本所另有规定的除外。
An instruction for a limit order in NTL shall include the broker's client code, broker code, securities code, buy or sell, quantity, price and other information. 深股通限价申报指令应当包括券商客户编码、经纪商代码、证券代码、买卖方向、数量、价格等内容。
The SZSE may, according to regulatory requirements, require a securities trading service company of the SEHK to provide the investor information involved in its trading orders, or consult the investor information involved in a broker's client code from China Securities Depository and Clearing Corporation Limited (“CSDC”). 本所根据监管需要,可以要求联交所证券交易服务公司提供其交易申报涉及的投资者信息,或者从中国结算调取券商客户编码涉及的投资者信息。
Article 25 The stocks that are removed out of stocks for NTL according to Article 18 of these Measures but are still listed on the SZSE shall not be purchased but may be sold through trading under NTL.   第二十五条 根据本办法第十八条被调出深股通股票且仍属于本所上市股票的,不得通过深股通买入,但可以卖出。
Article 26 The underlying stocks of margin trading and covered short selling of stocks for NTL shall fall under the scope of the SZSE's underlying securities of margin trading and short selling.   第二十六条 深股通股票保证金交易和担保卖空的标的股票,应当属于本所融资融券标的证券范围。
Article 27 A securities trading service company of the SEHK shall earmark trading orders falling under covered short selling of stocks for NTL.   第二十七条 联交所证券交易服务公司应当对属于深股通股票担保卖空的交易申报予以特别标识。
The price in an order of covered short selling shall not be lower than the last executed price of such stock; and if no order is executed that day, the price in the order shall not be lower than its last closing price. 担保卖空的申报价格不得低于该股票的最新成交价;当天没有成交的,申报价格不得低于其前收盘价。
A securities trading service company of the SEHK shall urge SEHK participants to require their clients that, to sell stocks borrowed for the purpose of covered short selling before returning them, the price shall comply with the requirements of the preceding paragraph, except the part in excess of the quantity of stocks that have not been returned. 联交所证券交易服务公司应当促使联交所参与者要求其客户,在未归还为担保卖空而借入的股票前卖出相同股票的委托价格应当符合前款要求,但超出未归还股票数量的部分除外。
Article 28 The ratio of covered short selling of a single stock for NTL on a single NTL trading day shall not exceed 1%; and the ratio of covered short selling of a single stock for NTL for ten consecutive NTL trading days shall not exceed 5% on an accumulative basis. A securities trading service company of the SEHK shall conduct front-end control according to the aforesaid ratio requirements.   第二十八条 单个深股通交易日的单只深股通股票担保卖空比例不得超过1%;连续10个深股通交易日的单只深股通股票担保卖空比例累计不得超过 5%。联交所证券交易服务公司应当根据前述比例要求进行前端控制。
A securities trading service company of the SEHK shall disclose the ratio of covered short selling of stocks for NTL through the website designated by it at the end of each NTL trading day. 联交所证券交易服务公司应当于每一深股通交易日日终,通过其指定网站披露深股通股票担保卖空比例。
The SZSE may, according to the market conditions, adjust the limit of covered short selling ratio as prescribed in paragraph 1 of this article, or suspend the acceptance of orders for covered short selling of stocks for NTL. 本所可以根据市场情况,调整本条第一款规定的担保卖空比例限制,或者暂停接受深股通股票担保卖空申报。
Article 29 Where a single stock falling under stocks for NTL is suspended by the SZSE from margin trading since the margin trading indicator for the stock for margin trading on the SZSE market reaches the prescribed ratio, the SZSE may require the securities trading service companies of the SEHK to suspend placing orders for margin trading in the stock eligible for NTL. If the margin trading indicator for such a stock reduces to the prescribed ratio and the SZSE resumes the margin trading of the stock, the SZSE may notify the securities trading service companies of the SEHK to resume placing orders for margin trading in the stock for NTL.   第二十九条 属于深股通股票的单只股票,在本所市场进行融资交易的融资监控指标达到规定比例而被本所暂停融资买入的,本所可以要求联交所证券交易服务公司暂停提交该深股通股票保证金交易申报。该股票的融资监控指标降低至规定比例而被本所恢复融资买入的,本所可以通知联交所证券交易服务公司恢复提交该深股通股票保证金交易申报。
Where a single stock falling under stocks for NTL is suspended by the SZSE from short selling since the short selling balance on the SZSE market reaches the prescribed ratio, the SZSE may require the securities trading service companies of the SEHK to suspend placing orders for covered short selling of such stock for NTL. If the short selling balance of such a stock reduces to the prescribed ratio and the SZSE resumes the short selling of the stock, the SZSE may notify the securities trading service companies of the SEHK of resuming placing orders for covered short selling of such stock for NTL. 属于深股通股票的单只股票,在本所市场的融券余量达到规定比例而被本所暂停融券卖出的,本所可以要求联交所证券交易服务公司暂停提交该深股通股票担保卖空交易申报。该股票的融券余量降低至规定比例而被本所恢复融券卖出的,本所可以通知联交所证券交易服务公司恢复提交该深股通股票担保卖空交易申报。
Article 30 The non-trade transfer of stocks for NTL is prohibited under any of the following circumstances:   第三十条 除下列情形外,不得进行深股通股票非交易过户:
(1) The borrowing and lending of stocks for NTL for the purpose of covered short selling (not more than one month). (一)为担保卖空而进行的期限不超过一个月的深股通股票借贷;
(2) The borrowing and lending of held stocks for NTL for the purpose of satisfying pre-trade checking requirements (one-day duration and no extension). (二)在自身持券范围内为满足持券检查要求而进行的为期一日且不得展期的深股通股票借贷;
(3) Transfer of stocks for NTL between SEHK participants and their clients for the purpose of correcting erroneous trades. (三)为处理错误交易而在联交所参与者与其交易客户之间进行的深股通股票过户;
(4) A fund management institution, after purchasing stocks for NTL through the uniform account, distributes them to all fund accounts managed by it. (四)基金管理人通过统一账户买入深股通股票后,分配至其管理的各基金账户;
(5) Any other circumstance prescribed by the SZSE and CSDC. (五)本所和中国证券登记结算有限责任公司(以下简称“中国结算”)规定的其他情形。
Article 31 A securities trading service company of the SEHK shall take appropriate means to require SEHK participants to guarantee a sufficient amount of securities in clients' accounts when accepting clients' sell instructions through trading under NTL, and shall not accept clients' instructions to sell securities on the market without a sufficient amount of securities.   第三十一条 联交所证券交易服务公司应当采取适当方式,要求联交所参与者接受客户深股通卖出委托时须确保客户账户内有足额的证券,不得接受客户无足额证券而直接在市场上卖出证券的委托。
Article 32 The stocks purchased through NTL shall not be sold before settlement.   第三十二条 通过深股通买入的股票,在交收前不得卖出。
Article 33 The securities trading service companies of the SEHK and SEHK participants shall not match the investors' buy and sell orders of stocks for NTL, and shall not transfer stocks for NTL at any venue other than the SZSE in any other form, unless it is otherwise provided for by the CSRC.   第三十三条 联交所证券交易服务公司和联交所参与者不得自行撮合投资者买卖深股通股票的订单,不得以其他任何形式在本所以外的场所提供深股通股票转让服务,中国证监会另有规定的除外。
Article 34 The name disclosed in the public securities trading information is “exclusive for NTL” for trading under NTL conducted through a securities trading service company of the SEHK.   第三十四条 通过联交所证券交易服务公司进行的深股通交易,证券交易公开信息中公布的名称为“深股通专用”
Article 35 Without approval of the SZSE, a securities trading service company of the SEHK shall not provide the trading information used by it with the permission of the SZSE to any institution or individual other than SEHK participants and their clients for dissemination, and shall not use such information for developing index or any other product.   第三十五条 联交所证券交易服务公司未经本所同意,不得将本所许可其使用的交易信息提供给联交所参与者及其交易客户之外的其他机构和个人使用或者予以传播,也不得用于开发指数或者其他产品。
A securities trading service company of the SEHK shall take appropriate means to require SEHK participants to and urge such participants to require their clients to abide by the preceding paragraph. 联交所证券交易服务公司应当采取适当方式,要求联交所参与者并促使联交所参与者要求其客户遵守前款规定。
Article 36 A securities trading service company of the SEHK shall pay stock trading fees for trading under NTL and other relevant expenses at the fee rates for the SZSE market.   第三十六条来自北大法宝 联交所证券交易服务公司应当按照本所市场收费标准交纳深股通交易经手费等相关费用。
A securities trading service company of the SEHK shall enter into an agreement with HKSCC to entrust the clearing and settlement and the payment of stock trading fees and other relevant expenses on trading under NTL. 联交所证券交易服务公司应当与香港结算签订协议,委托香港结算就深股通交易进行清算交收、交纳交易经手费及其他相关费用。
Article 37 Securities listed on the SZSE other than stocks for NTL, as acquired under such circumstances as the equity distribution or conversion of stocks for NTL or the acquisition of listed companies or under any abnormal circumstance, may be sold but not be purchased through NTL, unless it is otherwise provided for by the SZSE.   第三十七条 因深股通股票权益分派、转换、上市公司被收购等情形或者异常情况,所取得的深股通股票以外的本所上市证券,可以通过深股通卖出,但不得买入,本所另有规定的除外。
Securities not listed on the SZSE, as acquired through the equity distribution or conversion of stocks for NTL or the acquisition of listed companies, shall not be purchased or sold through NTL. 因深股通股票权益分派、转换或者上市公司被收购等所取得的非本所上市证券,不得通过深股通买入或者卖出。
Article 38 The SZSE may, according to market demand, adjust the NTL trading methods, order types, contents and methods for placing orders, business scopes, trading limits and other provisions.   第三十八条 本所可以根据市场需要,调整深股通的交易方式、订单类型、申报内容及方式、业务范围、交易限制等规定。
Section 4 Quota Control 

第四节 额度控制

Article 39 A securities trading service company of the SEHK shall conduct real-time monitoring of the usage of the daily quota of NTL, and announce the usage of quotas on the designated website.   第三十九条 联交所证券交易服务公司对深股通每日额度的使用情况进行实时监控,并在指定网站公布额度使用情况。
Article 40 The formula for calculating the quota balance of NTL on a day is: daily quota balance = daily quota – amount of buy orders + amount of sell orders + amount of buy orders canceled and rejected by the SZSE + difference between the buy price and the price in an order.   第四十条 深股通当日额度余额的计算公式为:当日额度余额=每日额度-买入申报金额+卖出成交金额+被撤销和被本所拒绝接受的买入申报金额+买入成交价低于申报价的差额。
Article 41 Once the daily quota is used up during the SZSE's opening call auction session, a securities trading service company of the SZSE shall not accept the subsequent buy orders during the session, but sell orders shall still be accepted. If the daily quota balance resumes to a positive level for the reason that buy orders are canceled or rejected by the SZSE, sell orders are executed, or any other circumstance before the commencement of the SZSE's continuous auction session, a securities trading service company of the SEHK shall accept the subsequent buy orders again.   第四十一条 当日额度在本所开盘集合竞价阶段使用完毕的,联交所证券交易服务公司暂停接受该时段后续的买入申报,但仍然接受卖出申报。此后在本所连续竞价阶段开始前,因买入申报被撤销、被本所拒绝接受或者卖出申报成交等情形,导致当日额度余额大于零的,联交所证券交易服务公司恢复接受后续的买入申报。
Once the daily quota is used up during the SZSE's continuous auction session or closing call auction session, a securities trading service company of the SEHK shall not accept the subsequent buy orders of the day, but sell orders shall still be accepted. If the acceptance of buy orders is suspended during the aforesaid session, it will not be resumed on that day, unless it is otherwise provided for by the SZSE. 当日额度在本所连续竞价阶段或者收盘集合竞价阶段使用完毕的,联交所证券交易服务公司停止接受当日后续的买入申报,但仍然接受卖出申报。在上述时段停止接受买入申报的,当日不再恢复,本所另有规定的除外。
Article 42 A securities trading service company of the SEHK shall take appropriate means to require SEHK participants to and urge such participants to require their clients not to maliciously occupy quota by such means as placing large-sum buy orders at low prices to affect quota control when participating in trading under NTL.   第四十二条 联交所证券交易服务公司应当采取适当方式,要求联交所参与者并促使联交所参与者要求其客户在参与深股通交易时,不得通过低价大额买入申报等方式恶意占用额度,影响额度控制。
Section 5 Shareholding Ratio Limit 

第五节 持股比例限制

Article 43 Investors that participate in trading under NTL shall abide by the shareholding ratio limit prescribed in the Provisions on Interconnection.   第四十三条 投资者参与深股通交易,应当遵守《互联互通规定》中的持股比例限制。
Article 44 A securities trading service company of the SEHK shall take appropriate means to require SEHK participants to refuse to accept any investor's trading instruction, close positions or take any other prohibitive and corrective measure when the investor trades in stocks for NTL beyond the relevant shareholding ratio limit.   第四十四条 联交所证券交易服务公司应当采取适当方式,要求联交所参与者在投资者买卖深股通股票违反有关持股比例限制时拒绝接受其交易委托、实施平仓或者采取其他制止和纠正措施。
Article 45 When an investor performs the information disclosure obligation according to relevant provisions, the domestic and overseas listed shares held in the same listed company through trading under NTL and other methods shall be calculated on a consolidated basis.   第四十五条 投资者根据相关规定履行信息披露义务时,其通过深股通交易与通过其他方式持有的同一上市公司的境内、外上市股份应当合并计算。
Article 46 Where the total shares held by a single foreign investor in the same listed company through NTL and other methods exceed the prescribed ratio after the closing of a trading day, the investor shall close the position of the excessive part within five days of trading under NTL, and perform the information disclosure obligation in a timely manner according to the relevant provisions.   第四十六条 当日交易结束后,单个境外投资者通过深股通与其他方式持有同一上市公司股票合并计算超过限定比例的,应当在5个深股通交易日内对超出部分予以平仓,并按照有关规定及时履行信息披露义务。
Article 47 Where the total stocks held by all foreign investors in the same listed company through NTL and other methods exceed the prescribed ratio after the closing of a trading day, the SZSE will, under the “going short” principle, notify the securities trading service companies of the SEHK and other foreign investors of closing positions. The securities trading service company of the SEHK shall, in a timely manner, notify SEHK participants, and require them to notify investors. Investors shall close the positions of the excessive part within five days of trading under NTL as of the date of receipt of such notice.   第四十七条 当日交易结束后,所有境外投资者通过深股通与其他方式持有同一上市公司股票合并计算超过限定比例的,本所将按照后买先卖的原则,向联交所证券交易服务公司及其他境外投资者发出平仓通知。联交所证券交易服务公司应当及时通知联交所参与者,并要求其通知投资者。投资者应当自接到通知之日起的5个深股通交易日内,对超出部分予以平仓。
Where any other foreign investor reduces shares within five NTL trading days and as a result the aforesaid total shares drop to the prescribed ratio or below, a securities trading service company of the SEHK may, voluntarily or according to the request made by the investor of trading under NTL investor through the SEHK, file an application with the SZSE that the original holder continues holding the original shares. 其他境外投资者在 5 个深股通交易日内自行减持导致上述持股总数降至限定比例以下的,联交所证券交易服务公司可以主动或者根据被通知减持的深股通投资者通过联交所参与者向其提出的请求,向本所申请由原持有人继续持有原股份。
Article 48 Where a NTL investor fails to dispose of shares exceeding the prescribed ratio according to relevant provisions, a securities trading service company of the SEHK shall require relevant SEHK participants to close positions.   第四十八条 深股通投资者未按规定对超过限定比例的股份进行处理的,联交所证券交易服务公司应当要求相关联交所参与者实施平仓。
Chapter III Trading under STL 

第三章 港股通交易

Section 1 SZSE Members' Participation in Southbound Trading Link under Shenzhen-Hong Kong Stock Connect (“STL”) 

第一节 本所会员参与港股通业务

Article 49 A member of the SZSE that participates in STL shall comply with the technical standards and other requirements prescribed by the securities trading service company of the SZSE.   第四十九条 本所会员参与港股通业务,应当符合本所证券交易服务公司规定的技术标准及其他要求。
Article 50 A member of the SZSE that participates in STL shall enter into a STL service contract with a securities trading service company of the SZSE to agree on both parties' rights and obligations.   第五十条 本所会员参与港股通业务,应当与本所证券交易服务公司签订港股通服务合同,约定双方的权利和义务。
Article 51 The provisions of relevant members of the SZSE on the management of clients' trading shall apply to SZSE members' participation in STL.   第五十一条 本所会员参与港股通业务,适用本所有关会员对客户交易行为管理的规定。
Article 52 A member of the SZSE shall sufficiently disclose to clients the risks of investment in STL, urge clients to abide by the relevant laws, administrative regulations, departmental rules, regulatory documents and business rules of the mainland and Hong Kong, and accept the SZSE's supervision.   第五十二条 本所会员应当向客户充分揭示港股通投资风险,督促客户遵守内地和香港相关法律、行政法规、部门规章、规范性文件和业务规则,接受本所监管。
Article 53 A member of the SZSE may terminate its STL service contract with a securities trading service company of the SZSE as agreed, but it shall make appropriate arrangements for its clients.   第五十三条 本所会员可以按照约定与本所证券交易服务公司终止港股通服务合同,但应当对其客户作出妥善安排。
Article 54 A securities trading service company of the SZSE may agree upon with a member of the SZSE that under any of the following circumstances, the securities trading service company of the SZSE has the right to suspend the provision of STL services or terminate the STL service contract.   第五十四条 本所证券交易服务公司可以与本所会员约定,发生下列情形之一的,本所证券交易服务公司有权暂停提供港股通服务或者终止港股通服务合同:
(1) The member violates any relevant law, administrative regulation, departmental rule, regulatory document or business rule. (一)会员违反相关法律、行政法规、部门规章、规范性文件和业务规则;
(2) The member fails to cooperate in the SZSE's examination, investigation, or any other regulatory conduct of activities of trading under STL. (二)会员不配合本所对港股通交易行为的检查、调查和其他监管行为;
(3) The member's relevant business or technical system has any major fault, and is unable to provide clients with services for trading under STL. (三)会员相关业务、技术系统出现重大故障,无法为客户提供港股通交易服务;
(4) Any other circumstance agreed upon in the contract. (四)合同约定的其他情形。
Article 55 A securities trading service company of the SZSE may entrust the SZSE to perform relevant functions prescribed in these Measures on its behalf, but shall also assume the responsibility for failure to adequately and appropriately perform relevant duties.   第五十五条 本所证券交易服务公司可以委托本所代为履行本办法规定的相关职责,但仍应承担相关职责未充分、适当履行的责任。
Section 2 Stocks for STL 

第二节 港股通股票

Article 56 Stocks for STL include:   第五十六条 港股通股票包括以下范围内的股票:
(1) the constituent stocks of the Hang Seng Composite LargeCap Index; (一)恒生综合大型股指数成份股;
(2) the constituent stocks of the Hang Seng Composite MidCap Index; (二)恒生综合中型股指数成份股;
(3) the constituent stocks of Hang Seng Composite SmallCap Index which each have an average month-end market capitalization of not less than five billion Hong Kong dollars in the twelve months before the deadline for periodical adjustment review, if listed for less than twelve months, market capitalization is calculated based on the actual time of listing; and (三)恒生综合小型股指数成份股,且成份股定期调整考察截止日前十二个月港股平均月末市值不低于港币50 亿元,上市时间不足十二个月的按实际上市时间计算市值;
(4) the H-shares of companies listed on both SZSE and SEHK. (四)A+H股上市公司在联交所上市的H股。
Stocks within the scope prescribed from item (1) to (4) of the preceding paragraphs falling under one of the following circumstances shall not be included in stocks for STL: 前款第(一)至第(四)项规定范围内的股票存在下列情形之一的,不纳入港股通股票:
(1) corresponding H-shares of companies listed on both SZSE and SEHK whose A-shares to which the SZSE assigns a risk alert, whose listing on the SZSE is suspended, or that enter the delisting arrangement period; (一)在本所上市的A股被实施风险警示、被本所暂停上市或者进入退市整理期的A+H股上市公司的相应H股;
(2) corresponding H-shares of companies listed on both SZSE and SEHK whose A-shares are traded on the Risk Alert Board of the Shanghai Stock Exchange (“SSE”) or whose listing on the SSE is suspended. (二)A 股在上海证券交易所(以下简称“上交所”)风险警示板交易或者被上交所暂停上市的A+H股上市公司的相应H股;
(3) stocks quoted and traded on the SEHK in currencies other than Hong Kong dollar; and (三)在联交所以港币以外货币报价交易的股票;
(4) other special circumstances determined by the SZSE. (四)本所认定的其他特殊情形。
With the approval of the regulatory authority, the SZSE may adjust the scope of stocks for STL. 经监管机构批准,本所可以调整港股通股票的范围。
Article 57 Where any stock other than stocks for STL falls into the scope prescribed in items (1) to (4) of paragraph 1 of Article 56 and items (1) to (4) of paragraph 2 of Article 56 of these Measures due to adjustment to the constituent stocks of relevant index or any other reason, it shall be included in the stocks for STL.   第五十七条 港股通股票之外的股票因相关指数实施成份股调整等原因,导致属于本办法第五十六条第一款第(一)至第(四)项规定范围且不属于第五十六条第二款第(一)至第(四)项规定范围的,调入港股通股票。
Where a SZSE-listed or SSE-listed company seeks H-share listing on the SEHK, or a SEHK-listed company seeks A-share listing on the SZSE or the SSE, or a company seeks A-share listing and H-share listing on the SEHK on a same day, its H share shall be included in stocks for STL after the end of the stabilizing period of H-share and the lapse of ten trading days after the listing of the corresponding A-share. 本所或上交所A 股上市公司在联交所上市H股,或者联交所H 股上市公司在本所或者上交所上市 A 股,或者公司同日上市 A股和联交所H股的,其H股在价格稳定期结束且相应A股上市满10个交易日后调入港股通股票。
Article 58 Where any stock for NTL no longer falls into the scope prescribed in items (1) to (4) of paragraph 1 of Article 56 and items (1) to (4) of paragraph 2 of Article 56 of these Measures due to adjustment to the constituent stocks of relevant index or any other reason, it shall be removed out of stocks for STL.   第五十八条 港股通股票因相关指数实施成份股调整等原因,导致不再属于本办法第五十六条第一款第(一)至第(四)项规定范围或者属于第五十六条第二款第(一)至第(四)项规定范围的,调出港股通股票。
Article 59 The daily average market capitalization standards for H-shares in item (3) of paragraph 1 of Article 56 of these Measures shall only apply at the time of the periodical adjustment to the index constituent stocks of Hang Seng Composite SmallCap Index, and the relevant stocks shall be included in or removed out of the stocks for STL on the implementation date of periodical adjustment.   第五十九条 本办法第五十六条第一款第(三)项中的港股市值标准仅在恒生综合小型股指数成份股定期调整时执行,相关股票在定期调整实施日调入或者调出港股通股票。
Constituent stocks meeting the market capitalization standards shall be determined by the SEHK. 符合市值标准的成份股由联交所确定。
Article 60 A securities trading service company of the SEHK shall announce the list of stocks for STL through the website designated by it, and the time when relevant stocks are included in or removed out of stocks for STL shall be the time announced by the securities trading service company of the SZSE.   第六十条 本所证券交易服务公司通过其指定网站公布港股通股票名单,相关股票调入或者调出港股通股票的生效时间以本所证券交易服务公司公布的时间为准。
Section 3 Particular Trading Matters 

第三节 交易特别事项

Article 61 Investors shall conduct trading under STL through RMB ordinary stock accounts on the SZSE.   第六十一条 投资者应当通过深市人民币普通股票账户进行港股通交易。
Article 62 Trading under STL shall be quoted in Hong Kong dollar and investors shall conduct settlement in RMB.   第六十二条 港股通交易以港币报价,投资者以人民币交收。
Article 63 The NTL trading days and trading hours shall be announced by the securities trading service companies of the SZSE on the websites designated by them. The Trading hours of each STL trading day include pre-opening session, continuous trading session, and closing auction trading session, which shall be specifically governed by the provisions of the SEHK.   第六十三条 港股通交易日和交易时间由本所证券交易服务公司在其指定网站公布。每个港股通交易日的交易时间包括开市前时段、持续交易时段和收市竞价交易时段,具体按联交所的规定执行。
Where any particular circumstance determined by a securities trading service company of the SZSE occurs, which leads to or may lead to failure to conduct trading under STL in a normal manner, the securities trading service company of the SZSE may adjust the STL trading days or trading hours and announce such adjustment to the market. 发生本所证券交易服务公司认定的特殊情形,导致或者可能导致港股通交易无法正常进行的,本所证券交易服务公司可以调整港股通交易日、交易时间并向市场公布。
Article 64 Trading under STL shall be conducted through the automatic order matching system of the SEHK, but odd lots held by investors may only be sold through the semi-automatic order matching system of the SEHK for odd lot trades.   第六十四条 港股通交易通过联交所自动对盘系统进行,但投资者持有的碎股只能通过联交所半自动对盘碎股交易系统卖出。
Investors that trade through the automatic order matching system of the SEHK shall place at-auction limit orders during the pre-opening session and closing auction session of the SEHK, and place enhanced limit orders during the continuous trading session of the SEHK. 投资者参与联交所自动对盘系统交易,在联交所开市前时段和收市竞价交易时段应当采用竞价限价盘委托,在联交所持续交易时段应当采用增强限价盘委托。
Article 65 The quantity of orders of trading under STL shall be governed by the provisions of the SEHK.   第六十五条 港股通交易申报的申报数量按照联交所的规定执行。
Article 66 The stocks that are removed out of stocks for STL under Article 58 of these Measures but are still listed on the SEHK shall not be purchased but may be sold through STL.   第六十六条 根据本办法第五十八条规定被调出港股通股票且仍属于联交所上市股票的,不得通过港股通买入,但可以卖出。
Article 67 Stocks for STL bought by investors on a day may be sold before settlement after execution is confirmed.   第六十七条 投资者当日买入的港股通股票,经确认成交后,在交收前即可卖出。
Article 68 The relevant provisions on A-share trading shall apply, mutatis mutandis, to the implementation of the third-party custody system for clients' trading settlement funds in STL.   第六十八条 港股通实行客户交易结算资金第三方存管制度,参照A股交易相关规定执行。
Article 69 A member that accepts a client's instruction for trading under STL shall ensure that the client has sufficient usable RMB funds or securities. A member shall not accept a client's instruction to buy or sell securities directly on the market without a sufficient amount of usable funds or securities.   第六十九条 会员接受客户港股通交易委托,应当确保客户有足额可用的人民币资金或者证券。会员不得接受客户无足额可用的资金、证券而直接在市场上买入、卖出证券的委托。
Article 70 The securities trading service companies of the SZSE and the members of the SZSE shall not match the orders on investors' trading in stocks for STL, and shall not transfer stocks for STL at any venue other than the SEHK in any other form, unless as otherwise provided for by the CSRC.   第七十条 本所证券交易服务公司和本所会员不得自行撮合投资者买卖港股通股票的订单,不得以其他任何形式在联交所以外的场所提供港股通股票转让服务,中国证监会另有规定的除外。
Article 71 After a STL order is placed, the price or quantity in the order shall not be modified, but unexecuted orders may be canceled during the sessions when cancellation is permitted by the SEHK.   第七十一条 港股通订单已经申报的,不得更改申报价格或者申报数量,但在联交所允许撤销申报的时段内,未成交申报可以撤销。
Article 72 A member that participates in STL shall place an order to the SEHK through a securities trading service company of the SZSE.   第七十二条 会员参与港股通业务,应当通过本所证券交易服务公司向联交所提交申报指令。
A securities trading service company of the SZSE shall, after receiving the trading results and other trading records sent by the SEHK, send them to members, and members shall send them to their clients. 本所证券交易服务公司接收联交所发送的交易结果及其他交易记录后发送给会员,并由会员发送给其客户。
Article 73 The real-time quotations and other information of stocks in STL shall be issued by the SEHK.   第七十三条 港股通业务中股票的即时行情等信息,由联交所发布。
Without the approval of the SEHK, any member of the SZSE or any other institution recognized by the SZSE shall not provide the trading information used by it with the permission of the SEHK to any institution or individual other than clients for use or dissemination, and shall not use such information for developing index or any other product. 会员及本所认可的其他机构未经联交所同意,不得将联交所许可其使用的交易信息提供给其客户之外的其他机构和个人使用或者予以传播,也不得用于开发指数或者其他产品。
Article 74 Members shall appropriately keep the records of instructions from clients and order routing activities, among others, according to the relevant provisions.   第七十四条 会员应当按照有关规定妥善保存委托和申报记录等资料。
Article 75 Investors that conduct trading under STL shall, according to relevant provisions, pay commissions to the members instructed them, and pay relevant expenses according to the relevant provisions on the SEHK market. 爬数据可耻  第七十五条 投资者进行港股通交易,应当按规定向其委托的会员交纳佣金,并按照联交所市场的有关规定交纳相关费用。
Article 76 Securities listed on the SEHK other than stocks for STL, as acquired under such circumstances as the equity distribution or conversion of stocks for STL or the acquisition of listed companies or under any abnormal circumstance may be sold but not be purchased through STL, unless as otherwise provided for by the SZSE.   第七十六条 因港股通股票权益分派、转换、上市公司被收购等情形或者异常情况,所取得的港股通股票以外的联交所上市证券,可以通过港股通卖出,但不得买入,本所另有规定的除外。
Where the subscription right certificate of stocks listed on the SEHK, as acquired through the rights issue of stock issuers or the equity distribution or conversion of stocks for STL is listed on the SEHK, such stocks may be sold but not be purchased through STL, and their exercise and other matters shall be handled according to relevant provisions of the CSRC and CSDC. 因港股通股票发行人供股、港股通股票权益分派或者转换等所取得的联交所上市股票的认购权利凭证在联交所上市的,可以通过港股通卖出,但不得买入,其行权等事宜按照中国证监会、中国结算的相关规定处理。
Securities not listed on the SEHK, as acquired through the equity distribution or conversion of stocks for STL or the acquisition of listed companies, shall not be purchased or sold through STL. 因港股通股票权益分派、转换或者上市公司被收购等所取得的非联交所上市证券,不得通过港股通买入或者卖出。
Article 77 The SZSE may, according to market demand, adjust the STL trading methods, order types, business scopes, trading limits and other provisions.   第七十七条 本所可以根据市场需要,调整港股通的交易方式、订单类型、业务范围、交易限制等规定。
Section 4 Quota Control 

第四节 额度控制

Article 78 A securities trading service company of the SZSE shall conduct real-time monitoring of the usage of the daily quota of STL, and announce the usage of quotas on the designated website.   第七十八条 本所证券交易服务公司对港股通每日额度的使用情况进行实时监控,并在指定网站公布额度使用情况。
Article 79 The formula for calculating the quota balance of STL on a day is: daily quota balance = daily quota – amount of buy orders + amount of sell orders + amount of buy orders canceled and rejected by the SEHK + difference between the buy price and the price in an order.   第七十九条 港股通当日额度余额的计算公式为:当日额度余额=港股通每日额度-买入申报金额+卖出成交金额+被撤销和被联交所拒绝接受的买入申报金额+买入成交价低于申报价的差额。
The amount of buy orders, the amount of sell trades, the amount of buy orders canceled and rejected by the SEHK, and the difference between the buy price and the price in an order as prescribed in the preceding paragraph shall be calculated by converting Hong Kong dollar into RMB at the reference exchange rate provided by CSDC before it commences trading each day. 前款规定的买入申报金额、卖出成交金额、被撤销和被联交所拒绝接受的买入申报金额、买入成交价低于申报价的差额,按照中国结算每日交易开始前提供的当日交易参考汇率,由港币转换为人民币计算。
Article 80 Where the daily quota is used up during the pre-opening session of the SEHK, a securities trading service company of the SZSE shall not accept the subsequent buy orders during the corresponding session and shall not resume acceptance before the session closes, but sell orders will still be accepted. If the daily quota balance resumes to a positive level for the reason that buy orders are canceled or rejected by the SEHK, sell orders are executed, or any other circumstance, a securities trading service company of the SZSE shall accept the subsequent buy orders again when the continuous trading session of SEHK commences.   第八十条 当日额度在联交所开市前时段使用完毕的,本所证券交易服务公司暂停接受相应时段后续的买入申报,且在该时段结束前不再恢复,但仍然接受卖出申报。因买入申报被撤销、被联交所拒绝接受或者卖出申报成交等情形,导致当日额度余额大于零的,本所证券交易服务公司在联交所持续交易时段开始时恢复接受后续的买入申报。
Where the daily quota is used up during the continuous trading session or closing auction trading session of the SEHK, a securities trading service company of the SZSE shall not accept the subsequent buy orders of the day, but it still shall accept sell orders. If the acceptance of buy orders is suspended during the aforesaid session, it will not be resumed on that day, unless ss otherwise provided for by the SZSE. 当日额度在联交所持续交易时段或者收市竞价交易时段使用完毕的,本所证券交易服务公司停止接受当日后续的买入申报,但仍然接受卖出申报。在上述时段停止接受买入申报的,当日不再恢复,本所另有规定的除外。
Article 81 Investors that participate in trading under STL shall not maliciously occupy quota by such means as placing large-sum buy orders at low prices to affect quota control.   第八十一条 投资者参与港股通交易,不得通过低价大额买入申报等方式恶意占用额度,影响额度控制。
Section 5 Investor Suitability Management 

第五节 投资者适当性管理

Article 82 Institutional investors that participate in trading under STL shall comply with the laws, administrative regulations, departmental rules, regulatory documents and business rules.   第八十二条 机构投资者参与港股通交易,应当符合法律、行政法规、部门规章、规范性文件及业务规则的规定。
Article 83 An individual investor that participates in trading under STL shall at least meet the following conditions:   第八十三条 个人投资者参与港股通交易,应当至少符合下列条件:
(1) Assets under the securities account and capital account are not less than 500,000 yuan in total. (一)证券账户及资金账户资产合计不低于人民币50万元;
(2) He or she has no serious bad credit record. (二)不存在严重不良诚信记录;
(3) He or she does not fall under any circumstance prohibiting or restricting him or her from participating in trading under STL as prescribed by any law, administrative regulation, departmental rule, regulatory document or business rule. (三)不存在法律、行政法规、部门规章、规范性文件和业务规则规定的禁止或者限制参与港股通交易的情形。
The SZSE may adjust the conditions prescribed in the preceding paragraph according to the market conditions. 本所可以根据市场情况,调整前款规定的条件。
Article 84 Investors that conduct trading under STL shall be familiar with the provisions relating to the Hong Kong stock market, understand the business rules and flows on trading under STL, determine the investment objectives in consideration of their risk appetites, and appraise their risk tolerance in an objective manner.   第八十四条 投资者进行港股通交易,应当熟悉香港证券市场相关规定,了解港股通交易的业务规则与流程,结合自身风险偏好确定投资目标,客观评估自身风险承受能力。
Article 85 Members of the SZSE shall determine the standards, procedures and methods for investor suitability management in STL and the measures that guarantee the implementation of investor suitability rules. The investor suitability management standards determined by members shall cover investors' asset status, knowledge level, risk tolerance and other aspects.   第八十五条 本所会员应当制定港股通业务投资者适当性管理的标准、程序、方法以及执行投资者适当性制度的保障措施。会员制定的投资者适当性管理标准应当包括投资者的资产状况、知识水平、风险承受能力等方面。
Article 86 Members of the SZSE shall introduce to clients the laws and regulations on the Hong Kong stock market, market characteristics and STL rules and flows in a comprehensive and objective manner.   第八十六条 本所会员应当向客户全面客观介绍香港证券市场法律法规、市场特点和港股通业务规则、流程。
Article 87 A member of the SZSE shall enter into an entrustment agreement with a client that participates in trading under STL to agree on both parties' rights and obligations.   第八十七条 本所会员应当与参与港股通交易的客户签订委托协议,约定双方的权利和义务。
A member shall, before entering into an entrustment agreement with a client, sufficiently disclose the risks in trading under STL to the client, and require the client to sign the risk disclosure statement. 会员与客户签订委托协议前,应当向客户充分揭示港股通交易风险,并要求客户签署风险揭示书。
The essential clauses of the entrustment agreement and the risk disclosure statement shall be otherwise developed by the SZSE. 委托协议、风险揭示书的必备条款,由本所另行规定。
Chapter IV Handling of Abnormal Transactions 

第四章 交易异常情况处理

Article 88 Where any abnormal trading determined by the SZSE occurs, which leads to or may lead to failure to conduct partial or all trading under NTL, the SZSE may decide to take such measures as suspending trading in relevant stocks for NTL, suspending the acceptance of partial or all orders of trading under NTL, and temporarily closing the market, and make an announcement thereon.   第八十八条 发生本所认定的交易异常情况,导致或者可能导致部分或者全部深股通交易不能正常进行的,本所可以决定采取对相关深股通股票停牌、暂停接受部分或者全部深股通交易申报、对本所市场临时停市等措施,并予以公告。
Where any abnormal trading determined by a securities trading service company of the SZSE occurs, which leads to or may lead to failure to conduct partial or all trading under STL in a normal manner, the securities trading service company of the SZSE may decide to suspend the provision of partial or all STL services, and make an announcement thereon. 发生本所证券交易服务公司认定的交易异常情况,导致或者可能导致部分或者全部港股通交易不能正常进行的,本所证券交易服务公司可以决定暂停提供部分或者全部港股通服务并予以公告。
After the reason for the SZSE to suspend trading or temporarily close the market or for a securities trading service company of the SZSE to suspend the provision of STL services disappears, the SZSE may decide to resume relevant trading under NTL or the SZSE's market trading and make an announcement thereon, and the securities trading service company of the SZSE may decide to resume the provision of STL services, and make an announcement thereon. 本所停牌、临时停市及本所证券交易服务公司暂停提供港股通服务的原因消除后,本所可以决定恢复相关深股通交易、本所市场交易并予以公告,本所证券交易服务公司可以决定恢复港股通服务并予以公告。
Article 89 Where the amount of purchase or sale exceeds a certain amount in trading under NTL within a short time and it constitutes an abnormal trading prescribed in the SZSE's business rules, the SZSE may take corresponding handling measures according to the provisions.   第八十九条 深股通交易出现短时间内买入或者卖出超过一定金额,构成本所业务规则的交易异常情况的,本所可以按照规定采取相应处置措施。
Article 90 Where any abnormal trading determined by the SEHK occurs, which leads to or may lead to failure to conduct partial or all trading under STL, and the SEHK decides to temporarily close the SEHK market, resume trading or take other measures, the SZSE shall forward the relevant announcement after receiving the notice of the SEHK.   第九十条 发生联交所认定的交易异常情况,导致或者可能导致部分或者全部港股通交易不能正常进行的,联交所决定对联交所市场临时停市及后续恢复交易或者采取其他措施的,本所将在接到联交所通知后对其相关公告予以转发。
Where any abnormal trading determined by a securities trading service company of the SEHK occurs, which leads to or may lead to failure to conduct partial or all trading under NTL in a normal manner, the securities trading service company of the SEHK may decide to temporarily suspend the provision of services for trading under NTL and make an announcement thereon. After the relevant abnormal trading is eliminated, the securities trading service company of the SEHK may decide to resume the provision of services for trading under NTL and make an announcement thereon. 发生联交所证券交易服务公司认定的交易异常情况,导致或者可能导致部分或者深股通交易不能正常进行的,联交所证券交易服务公司可以决定暂停提供深股通服务并予以公告。相关交易异常情况消失后,联交所证券交易服务公司可以决定恢复深股通服务并予以公告。
Article 91 The SZSE and the securities trading service companies of the SZSE shall not assume liability for the losses resulting from abnormal trading or the corresponding measure taken by the SZSE or the securities trading service companies of the SZSE.   第九十一条 因交易异常情况及本所、本所证券交易服务公司采取的相应措施造成的损失,本所、本所证券交易服务公司不承担责任。
Chapter V Self-regulatory Management 

第五章 自律管理

Article 92 The SZSE and the SEHK shall, through cooperation in cross-border supervision, strengthen the supervision and administration of trading under Shenzhen-Hong Kong Stock Connect and relevant information disclosure.   第九十二条 本所与联交所通过跨境监管合作加强对深港通交易及相关信息披露行为的监督管理。
Article 93 The SZSE shall, in accordance with the Trading Rules and other business rules, focus on the monitoring of abnormal trading acts or circumstances in trading under NTL.   第九十三条 本所根据《交易规则》等业务规则的规定,对深股通交易中的异常交易行为或情形予以重点监控。
Article 94 Where a securities trading service company of the SEHK finds that any abnormal trading acts or circumstances prescribed in the Trading Rules of the SZSE and other business rules exist or may exist in trading under NTL, it shall report to the SZSE in a timely manner, remind SEHK participants and require them to remind their clients of taking such measures as refusing to provide services for trading under NTL for SEHK participants as the case may be.   第九十四条 联交所证券交易服务公司发现深股通交易中存在或者可能存在本所《交易规则》等业务规则规定的异常交易行为或情形之一的,应当及时报告本所,提醒联交所参与者并要求联交所参与者提醒其客户,并视情况采取拒绝为联交所参与者提供深股通服务等措施。
A securities trading service company of the SEHK shall take appropriate means to require SEHK participants to remind clients that have or may have abnormal trading acts set forth in the Trading Rules of the SZSE and other business rules in trading under NTL, and as the case may, refuse to accept their subsequent instructions of trading under NTL. 联交所证券交易服务公司应当采取适当方式,要求联交所参与者对于在深股通交易中存在或者可能存在本所《交易规则》等业务规则规定的异常交易行为的客户予以提醒,并视情况拒绝接受其后续的深股通交易委托。
Article 95 Where any violation of these Measures or other relevant provisions of the SZSE occurs in trading under NTL, or any investor of trading under NTL violates or may violate the information disclosure requirements or other requirements prescribed in the Stock Listing Rules of the Shenzhen Stock Exchange, the Rules of the Shenzhen Stock Exchange for Stock Listing on ChiNext and other business rules, the SZSE may conduct investigation and require the securities trading service company of the SEHK to provide relevant materials; and the SZSE may also file a request with the SEHK for taking appropriate investigation measures against the relevant SEHK participants.   第九十五条 深股通交易中出现违反本办法或者本所其他相关规定的行为,或者深股通投资者违反或可能违反《深圳证券交易所股票上市规则》、《深圳证券交易所创业板股票上市规则》等业务规则规定的信息披露等要求的,本所可以进行调查,要求联交所证券交易服务公司提供相关资料;本所还可以提请联交所对相关联交所参与者采取适当的调查措施。
Article 96 Where any violation of these Measures or other relevant provisions of the SZSE occurs in trading under NTL, if the circumstances are serious, the SZSE may file a request with the SEHK for taking relevant regulatory measures against and imposing, or request the SEHK to require its participants to give oral or written warnings to investors and refuse to accept their instructions of trading under NTL.   第九十六条 深股通交易中出现违反本办法或者本所其他相关规定的行为,情节严重的,本所可以提请联交所对其参与者实施相关监管措施、纪律处分,或者提请联交所要求其参与者对投资者进行口头警示、书面警示、拒绝接受其深股通交易委托。
Article 97 Where any abnormal trading acts or circumstances occur in trading under NTL, which seriously disrupts the market order of the SZSE, the SZSE may suspend or restrict the trading privileges of the securities trading service company of the SEHK, or refuse to accept the trading orders involving the relevant investor placed by the securities trading service company of the SEHK.   第九十七条 深股通交易中出现异常交易行为或情形,严重扰乱本所市场秩序的,本所可以暂停或者限制联交所证券交易服务公司交易权限,或者不予接受联交所证券交易服务公司提交的涉及相关投资者的交易申报。
After the impact of the abnormal trading acts or circumstances is eliminated, the SZSE may decide to resume the trading privileges of the securities trading service company of the SEHK or resume the acceptance of relevant trading orders. 异常交易行为或情形影响消除后,本所可以决定恢复联交所证券交易服务公司交易权限或者恢复接受相关交易申报。
Article 98 Where any investor of trading under NTL trades in stocks for NTL in violation of the information disclosure requirements prescribed in the Stock Listing Rules of the Shenzhen Stock Exchange, the Rules of the Shenzhen Stock Exchange for Stock Listing on ChiNext and other business rules, the SZSE may take regulatory measures against or impose disciplinary actions on the investor in accordance with relevant rules.   第九十八条 深股通投资者买卖深股通股票,违反《深圳证券交易所股票上市规则》、《深圳证券交易所创业板股票上市规则》等业务规则规定的信息披露要求的,本所可以根据相关规则对其实施监管措施或者纪律处分。
Article 99 STL investors and members of the SZSE that participate in trading under STL shall not violate these Measures or commit market misconduct.   第九十九条 港股通投资者、本所会员参与港股通交易,不得违反本办法的规定,不得从事市场失当行为。
Article 100 Where any member of the SZSE discovers that an investor has or may have market misconduct in trading under STL, it shall remind the investor, and may refuse to accept the investor's instruction. The member shall report the relevant information to the SZSE in a timely manner.   第一百条 本所会员发现投资者的港股通交易存在或者可能存在市场失当行为,应当予以提醒,并可以拒绝接受其委托。会员应当将相关情况及时向本所报告。
Article 101 As requested by the SEHK or when the SZSE deems it necessary, the SZSE may conduct off-site investigation and on-site investigation of the market misconduct or other violation of the member and its clients in trading under STL, require the relevant member and its clients to provide relevant materials, and may provide relevant information for the SEHK.   第一百零一条 应联交所提请或者在本所认为必要时,本所可以对会员及其客户在港股通交易中出现的市场失当行为或者其他违规行为采取非现场调查和现场调查措施,要求相关会员及其客户提供相关资料,并可向联交所提供相关信息。
Article 102 Where any member of the SZSE or its client commits any market misconduct in trading under STL, if the circumstances are serious, the SZSE may, as requested by the SEHK, take corresponding regulatory measures against or impose disciplinary actions on the member or its client, including requiring the relevant members of the SZSE to refuse to accept their clients' instructions for trading under STL.   第一百零二条 本所会员及其客户在港股通交易中出现市场失当行为,情节严重的,本所应联交所提请,可以实施相应的监管措施或者纪律处分,包括要求本所相关会员拒绝接受其客户的港股通交易委托。
Article 103 The SZSE may, if necessary, inspect the risk management measures of the securities trading service companies of the SEHK, the safety and operation condition of their technical systems, and their implementation of the SZSE's relevant business rules, among others.   第一百零三条 本所可以根据需要,对联交所证券交易服务公司的风险管理措施、技术系统的安全运行状况及对本所相关业务规则的执行情况等进行检查。
Article 104 Where a securities trading service company of the SEHK violates these Measures or any other relevant provisions of the SZSE, the SZSE may take regulatory measures against or impose disciplinary actions on the violator such as giving oral warnings, written warnings, holding interviews, circulating a notice of criticism and public condemnation.   第一百零四条 联交所证券交易服务公司违反本办法和本所其他相关规定的,本所可以实施口头警示、书面警示、约见谈话、通报批评、公开谴责等监管措施或者纪律处分。
Article 105 Where any member of the SZSE or its client violates these Measures and other relevant provisions of the SZSE, the SZSE may take regulatory measures against or impose disciplinary actions on the violator such as giving oral warnings, written warnings, holding interviews, circulating a notice of criticism and public condemnation.   第一百零五条 本所会员及其客户违反本办法和本所其他相关规定的,本所可以实施口头警示、书面警示、约见谈话、通报批评、公开谴责等监管措施或者纪律处分。
Article 106 Where any NTL investor, STL investor, securities trading service company of the SEHK, or member of the SZSE participates in trading under Shenzhen-Hong Kong Stock Connect in violation of any relevant law, administrative regulation, departmental rule, regulatory document and business rule of the SZSE, if the circumstances are serious, the SZSE may report to the CSRC for investigation and handling.   第一百零六条 深股通投资者、港股通投资者、联交所证券交易服务公司、本所会员参与深港通交易,违反相关法律、行政法规、部门规章、规范性文件及本所业务规则的规定,情节严重的,本所可以报中国证监会查处。
Article 107 In accordance with the provision of any law, administrative regulation, departmental rule, regulatory document or business rule or the requirements of the regulatory authority, the SZSE may suspend all or partial trading under Shenzhen-Hong Kong Stock Connect.   第一百零七条 根据法律、行政法规、部门规章、规范性文件、业务规则的规定或者监管机构的要求,本所可以暂停全部或者部分深港通交易。
Article 108 The SZSE shall not assume liability for the loss caused by the SZSE's development of or amendment to business rules or performance of self-regulatory functions in accordance with business rules.   第一百零八条 因本所制定、修改业务规则或者根据业务规则履行自律监管职责等造成的损失,本所不承担责任。
Members of the SZSE and STL investors shall be aware of and recognize the relevant provisions of the SEHK's business rules on the exemption of liability of the SEHK. 本所会员、港股通投资者应当知晓并认可联交所业务规则中关于联交所责任豁免的相关规定。
Chapter VI Supplementary Provisions 

第六章 附则

Article 109 Definitions of the following terms in these Measures are as follows:   第一百零九条 本办法下列用语含义:
(1) “Shenzhen-Hong Kong Stock Connect”, i.e. “an interconnection mechanism for trading in Shenzhen and Hong Kong stock markets,” means that an investor in Shenzhen or Hong Kong authorizes a SZSE member or a SEHK participant to trade in a prescribed range of stocks listed on the counter party through a securities trading service company formed by the SZSE or the SEHK at the place where the counter party is located. Shenzhen-Hong Kong Stock Connect includes NTL and STL. (一)深港通:即深港股票市场交易互联互通机制,指两地投资者委托本所会员或者联交所参与者,通过本所或者联交所在对方所在地设立的证券交易服务公司,买卖规定范围内的对方交易所上市股票。深港通包括深股通和港股通两部分。
(2) “NTL” means that investors authorize SEHK participants to place orders to the SZSE for the purpose of trading in a prescribed range of stocks listed on the SZSE through the securities trading service companies of the SEHK. (二)深股通:指投资者委托联交所参与者,通过联交所证券交易服务公司,向本所进行申报,买卖规定范围内的本所上市股票。
(3) “STL:” i.e. “southbound trading link under Shenzhen-Hong Kong Stock Connect,” means that investors authorize members of the SZSE to place orders to the SEHK for the purpose of trading in a prescribed range of stocks listed on the SEHK through the securities trading service companies of the SZSE. (三)港股通:即深港通下的港股通,指投资者委托本所会员,通过本所证券交易服务公司,向联交所进行申报,买卖规定范围内的联交所上市股票。
(4) “Stocks for NTL” mean a prescribed range of stocks listed on the SZSE that may be traded by investors through trading under NTL. (四)深股通股票:指投资者可以通过深股通买卖的规定范围内的在本所上市的股票。
(5) “Stocks for STL” mean a prescribed range of stocks listed on the SEHK that may be traded by investors through trading under STL. (五)港股通股票:指投资者可以通过港股通买卖的规定范围内的在联交所上市的股票。
(6) “NTL Investors” means the investors that authorize SEHK participants to trade in stocks for NTL or directly trade in stocks for NTL through trading under NTL. (六)深股通投资者:指委托联交所参与者或者直接通过深股通买卖深股通股票的投资者。
(7) “STL investors” mean the investors that authorize members of the SZSE to trade in stocks for STL or directly trade in stocks for STL through trading under STL. (七)港股通投资者:指委托本所会员或者直接通过港股通买卖港股通股票的投资者。
(8) “Trading day” means a trading day on the market of the SZSE. (八)交易日:指本所市场的交易日。
(9) “NTL trading day” means a NTL trading day announced by a securities trading service company of the SEHK. (九)深股通交易日:指联交所证券交易服务公司公布的深股通交易日。
(10) “STL trading day” means a STL trading day announced by a securities trading service company of the SZSE. (十)港股通交易日:指本所证券交易服务公司公布的港股通交易日。
(11) “Members” means the securities business institutions qualified as ordinary members of the SZSE. (十一)会员:指取得本所普通会员资格的证券经营机构。
(12) “SEHK participants” means the exchange participants of the SEHK defined in the Rules of the Stock Exchange of Hong Kong Limited issued by the SEHK. (十二)联交所参与者:指符合联交所《交易所规则》定义的交易所参与者。
(13) “Deadline for periodical adjustment review:” means the deadline for review used for periodical adjustment in the plan for preparation of the SZSE Component Index and the SZSE Small/Mid Cap Innovation Index, for stocks for NTL; and the deadline for data used for periodical self-criticism in the detailed rules for the preparation of the Hang Seng Composite Index, for stocks for STL. (十三)定期调整考察截止日:对于深股通股票,是指深证成份指数、深证中小创新指数编制方案中,定期调整所使用的考察截止日;对于港股通股票,是指恒生综合指数编算细则中,定期检讨所使用的数据截止日。
(14) “A shares” means the RMB common stocks listed on the SZSE or the SSE. (十四)A股:指在本所或者上交所上市的人民币普通股票。
(15) “H shares” means the stocks issued by companies registered in the territory of China and listed on the SEHK. (十五)H 股:指境内注册的公司发行并在联交所上市的股票。
(16) “Dual listed companies” mean the companies that are registered in the territory of China and whose stocks are listed on the SZSE and the SEHK or the SSE and the SEHK at the same time. (十六)A+H 股上市公司:指在境内注册,其股票同时在本所和联交所或者同时在上交所和联交所上市的公司。
(17) “Risk Alert Board of the SSE” means the risk alert board established by the SSE for the stocks of listed companies. (十七)上交所风险警示板:指上交所设立的上市公司股票风险警示板。
(18) “At-auction limit orders” means at-auction limit orders of trading under STL placed upon commission of the members of the SZSE in compliance with the provisions of the Rules of the SEHK. (十八)竞价限价盘委托:指委托本所会员申报符合联交所规则规定的竞价限价盘的港股通交易委托。
(19) “Enhanced limit orders” means enhanced limit orders of trading under STL placed upon commission of the members of the SZSE in compliance with the provisions of the Rules of the SEHK. (十九)增强限价盘委托:指委托本所会员申报符合联交所规则规定的增强限价盘的港股通交易委托。
(20) “Broker's client code” means a unique digital code assigned by a SEHK participant to its client for identifying the investor. (二十)券商客户编码:指联交所参与者分配给其客户的唯一的、可据以识别投资者身份的数字编码。
(21) “Odd lots” means securities of less than one trading unit. (二十一)碎股:指不足一个买卖单位的证券。
(22) “Stabilizing period” means the price stability period applicable to stocks specified in their prospectus documents. (二十二)价格稳定期:指在招股文件中载明的适用于该股票的稳定价格期间。
(23) “Margin trading of stocks for NTL” means the purchase of stocks for NTL with funds obtained by NTL investors through securities margin financing on the Hong Kong market. (二十三)深股通股票保证金交易:指深股通投资者在香港市场通过证券保证金融资获得资金买入深股通股票。
(24) “Covered short selling of stocks for NTL” means that NTL investors, after borrowing stocks for NTL through stock borrowing and lending on the Hong Kong market, sell such stocks through NTL. (二十四)深股通股票担保卖空:指深股通投资者在香港市场通过股票借贷借入深股通股票后,通过深股通将其卖出。
(25) “Lending of stocks for NTL” means that SEHK participants lend stocks for NTL to their clients or other SEHK participants, or qualified institutions lend stocks for NTL to SEHK participants on the Hong Kong market. (二十五)深股通股票借贷:指在香港市场,联交所参与者向其交易客户或者其他联交所参与者出借深股通股票,或者符合条件的机构向联交所参与者出借深股通股票的行为。
(26) “Covered short selling ratio of stocks for NTL” means the ratio of the quantity of covered short selling of a single stock for NTL on a single NTL trading day to the total number of such stock for NTL held by HKSCC as the nominal shareholder on the previous NTL trading day. (二十六)深股通股票担保卖空比例:指单个深股通交易日单只深股通股票的担保卖空量,占前一深股通交易日香港结算作为名义持有人持有的该只深股通股票总量的比例。
(27) “Non-trade transfer of stocks for NTL” means the modification to the actual owner of rights and interests of stocks for NTL without trading on the SZSE market. (二十七)深股通股票非交易过户:指在本所市场交易之外,对深股通股票的实际权益拥有人进行变更。
(28) “Rights issue” means that a company listed on the SEHK places rights issue offers to existing stockholders to enable them to subscribe for a company's stocks at their shareholding ratio, and the subscription right certificate may be transferred through the secondary market. (二十八)供股:指联交所上市公司向现有股票持有人作出供股要约,使其可以按持有股票的比例认购该公司股票,且认购权利凭证可以通过二级市场进行转让。
(29) “Public placement” means that a company listed on the SEHK places offers to existing stockholders to enable them to subscribe for the company's stocks, however, publicly offered rights and interests shall not be transferred. (二十九)公开配售:指联交所上市公司向现有股票持有人作出要约,使其可以认购该公司股票,但公开配售权益不能转让。
(30) “Market misconduct” means insider trading, false trading, price manipulation, disclosure of materials on prohibited trading, disclosure of false or misleading materials to induce trading, manipulation of the securities market, and other market misconduct prescribed by laws of Hong Kong, and the provisions of the Securities and Futures Commission of Hong Kong and the SEHK, among others. (三十)市场失当行为:指香港地区法律及香港证券及期货事务监察委员会、联交所等规定的内幕交易、虚假交易、操控价格、披露关于受禁交易的资料、披露虚假或具误导性的资料以诱使进行交易、操纵证券市场及其他市场失当行为。
Article 110 An institution that leases a trading unit of the SZSE from a member of the SZSE to participate in trading under STL shall enter into a STL service contract with a securities trading service company of the SZSE, and be governed by the provisions on participation in STL by members of the SZSE, except the provisions involving the brokerage business of members of the SZSE.   第一百一十条 向本所会员租用本所交易单元的机构参与港股通交易,应当与本所证券交易服务公司签订港股通服务合同,并适用本所会员参与港股通业务的相关规定,但涉及本所会员经纪业务的规定除外。
Members' participation in trading under STL through proprietary trading, asset management and other non-brokerage business, and the participation in trading under STL by institutions prescribed in the preceding paragraph shall comply with the provisions of the relevant regulatory authority. 会员自营、资产管理等非经纪业务参与港股通交易,以及前款规定的机构参与港股通交易,应当符合相关监管机构的规定。
Article 111 The supervision over the information disclosure of the issuer of a stock for NTL or STL and relevant parties with information disclosure obligations shall be in the charge of the stock exchange at the place where the stock is listed, and be governed by the laws, administrative regulations, departmental rules, regulatory documents and business rules of the stock exchange at the place where the stock is listed.   第一百一十一条 深股通股票、港股通股票发行人及相关信息披露义务人的信息披露等行为监管,由股票上市地的证券交易所负责监管,适用股票上市地的法律、行政法规、部门规章、规范性文件和证券交易所业务规则。
Article 112 Where a change in the stocks for NTL held by HKSCC as the nominal holder reaches the standards for change in a listed company's equity shares, the provisions of the SZSE on the information disclosure of change in equity shares of the listed company shall not apply.   第一百一十二条 香港结算作为名义持有人持有的深股通股票变动达到上市公司股份权益变动标准的,不适用本所有关上市公司股份权益变动信息披露的规定。
Article 113 NTL investors may consult the information disclosed by issuers of stocks for NTL and relevant parties with information disclosure obligations through the SZSE's website and other information disclosure media designated by the CSRC.   第一百一十三条 深股通投资者可以通过本所网站以及中国证监会指定的其他信息披露媒体,查询深股通股票发行人及相关信息披露义务人披露的信息。
Article 114 STL investors may consult the information disclosed by issuers of stocks for STL and relevant parties with information disclosure obligations through the website of SEHK News and the website of the relevant issuer.   第一百一十四条 港股通投资者可以通过联交所“披露易”网站和相关发行人网站,查询港股通股票发行人及相关信息披露义务人披露的信息。
Article 115 HKSCC shall, in its name, exercise the rights of issuers of stocks for NTL according to the opinions of NTL investors.   第一百一十五条 香港结算应当以自己的名义,按照深股通投资者的意见行使对深股通股票发行人的权利。
The specific matters on the participation in online voting at the shareholders' meeting of a listed company of the SZSE by HKSCC as the nominal holder shall be otherwise prescribed by the SZSE. 香港结算作为名义持有人参与本所上市公司股东大会网络投票的具体事项,由本所另行规定。
Article 116 Where a company listed on the SZSE allots shares to NTL investors with the approval of the regulatory authority, HKSCC shall participate in subscription as the nominal holder, and the specific matters shall be governed by the relevant provisions of the SZSE on the issuance and subscription of shares.   第一百一十六条 本所上市公司经监管机构批准向深股通投资者进行配股的,由香港结算作为名义持有人参与认购,具体事宜适用本所有关股份发行认购的规定。
Where a company listed on the SEHK conducts rights issue and public placement for STL investors with the approval of the regulatory authority, the specific matters on STL investors' participation in subscription shall be governed by the relevant provisions of the CSRC and CSDC. 联交所上市公司经监管机构批准向港股通投资者进行供股、公开配售的,港股通投资者参与认购的具体事宜按照中国证监会、中国结算的相关规定执行。
Article 117 Investors participating in trading on the market of the SZSE including the ChiNext through NTL shall comply with the regulatory provisions on investor suitability and business rules of the stock market in Hong Kong.   第一百一十七条 投资者通过深股通参与本所市场包括创业板市场交易的,遵守适用香港股票市场的投资者适当性监管规定及业务规则。
Article 118 Stocks for STL bought by investors may be subject to custody conversion. The specific matters shall be governed by the relevant provisions of the CSDC.   第一百一十八条 投资者买入的港股通股票可以进行转托管。具体事宜按照中国结算的相关规定执行。
Article 119 The matters on the provision of margin trading and short selling services by members of the SZSE for trading under STL shall be separately prescribed by the SZSE.   第一百一十九条 本所会员为港股通交易提供融资融券服务的相关事宜,由本所另行规定。
Article 120 Where relevant regulatory authorities have other provisions on settlement of currency for Shenzhen-Hong Kong Stock Connect, such provisions shall apply.   第一百二十条 有关监管机构对深港通交收货币另有规定的,从其规定。
Article 121 For securities that can be sold but cannot be bought through Shenzhen-Hong Kong Stock Connect according to these Measures, the provisions of these Measures on stocks for NTL and stocks for STL shall apply, mutatis mutandis, to the matters such as their trading, the limit of shareholding ratio, the exercise of shareholders' rights and interests, and information disclosure.   第一百二十一条 根据本办法只能通过深港通卖出而不能买入的证券,其交易、持股比例限制、股东权益行使、信息披露等事项参照适用本办法关于深股通股票、港股通股票的规定。
Article 122 For the purposes of these Measures, “exceed,” “over,” and “less than” shall exclude the figure itself, and “reach” and “not more than” shall include the figure itself.   第一百二十二条 本办法所称“超过”“大于”“低于”“少于”、“不足”不含本数,“达到”“以下”含本数。
Article 123 These Measures and any amendment thereto shall come into force after being adopted by the board of governors of the SZSE and approved by the CSRC.   第一百二十三条 本办法经本所理事会通过,报中国证监会批准,修改时亦同。
Article 124 These Measures shall be subject to interpretation by the SZSE.   第一百二十四条 本办法由本所负责解释。
Article 125 These Measures shall come into force on September 17, 2018.   第一百二十五条 本办法自2018年9月17日起施行。
     
     
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