A shares are not physical shares. Electronic recording, paperless, implementation of "T+ 1" delivery system, price limit (10%). The participating investors are Chinese mainland institutions or individuals.
B shares are not physical shares. They are paperless electronic bookkeeping and implement the "T+3" delivery system. There is a limit (65,438+00%). The investors involved are Hong Kong, Macao and Taiwan residents and foreigners, and mainland residents with legal foreign exchange deposits can also invest.
H shares are physical shares, and the "T+0" delivery system is implemented, with no price limit. Only institutional investors in Chinese mainland can invest in H shares, while individual investors in Chinese mainland cannot directly invest in H shares at present.
Extended data:
The stocks of listed companies in China are divided into A shares, B shares, H shares, N shares and S shares. This distinction mainly depends on the place where the stock is listed and the investors it faces. A company can issue A, B and H shares at the same time, depending on the approval of specific departments.
The pricing of A-shares, B-shares and H-shares is different. Domestic investors obviously do not have the conditions to speculate in B-shares, and domestic institutional investors can speculate in H-shares. In addition, it is worth mentioning that B shares listed on the Shanghai Stock Exchange are denominated in US dollars, while B shares listed on the Shenzhen Stock Exchange are denominated in Hong Kong dollars, so the share prices of the two cities are quite different. If you convert US dollars and Hong Kong dollars into RMB, you will know that the share prices of the two places are basically the same.
It is not standard to classify stocks by letters. According to the requirements of China Securities Regulatory Commission, stock abbreviations must be standardized. I believe that with the further development of China stock market, the appellation of A shares, B shares and H shares will become history.
Baidu encyclopedia -H shares