Before trading securities, investors usually need to open an account in the sales department of a securities company or a designated bank. Individuals or legal persons can open accounts of different types and purposes, such as A-share and B-share accounts, and even accounts in specific currencies. A shares are mainly traded in China, while B shares involve foreign exchange transactions. If you already have an A-share account, you may not need to open a separate account for the fund, because the A-share account has allowed investment in the fund.
In the process of opening an account, you generally need to provide identification documents. If you open an account as an agent, you need to sign a power of attorney. To open an account, a legal person institution needs to provide business license, legal representative certificate and other documents, and fill in relevant contracts and agreements. After opening an account, you also need to open a fund account and a bank-securities transfer service.
In short, the bank handles the Guangfa Securities account for you when you open an account, in order to facilitate your investment activities in the China securities market and ensure that you have the necessary trading tools and account structure. The specific operation process involves the required documents, agreement signing and account management.