Direct Access
Eligible for existing QFII/RQFIIs to participate both the primary and secondary STAR Market directly. No additional new accounts are needed to open.
QFII/RQFII Application and Account Opening Process
Primary Market – Offline Placement
1. How to Participate the Offline Placement
2. Favorable Rules
Priority in Allotment
Except for mutual fund, social security fund, pension, annuity and insurance (Class A), QFII (Class B) shall be granted an placement rate no less than any other types of investor (Class C) in the offline placement.
Issuer shall allocate no less than 70% of the offline placement to mutual fund, social security fund, pension, annuity, insurance and QFII.
Institution-oriented Placement
After Online over-subscription clawback, the offline placement shall be no less than 60%, compare to 10% for main board.
Secondary Market
1. Adding after-hours fixed-price trading mechanism
● Designed for passive investors who are interested in tracking the closing price
● Orders accepted during 9:30-11:30, 13:00-15:30
● Orders executed during 15:05-15:30 under the principle of time priority
2. Relaxed price limit
● No price limit for the first 5 trading days
● After that a 20% up/down limit is applied instead of 10% in main board
3. Securities Lending and Borrowing
● Stocks on the STAR Market shall be the underlying of margin trading since the first day of listing
● According to the QFII consultation paper released by the CSRC in early 2019, QFII/RQFII may participate in SLB
4. New order types available
● Same side best price order
● Counterparty best price order
The above content is only for reference. Please refer to the full text of the rules.