中国证券监督管理委员会、国家外汇管理局关于证券经营机构从事B

证监发[2001]26号
颁布日期：20010223 　实施日期：20010223 　颁布单位：中国证券监督管理委员会、 国家外汇管理局

　　ZhengJianFa [2001] No.26

　　February 23, 2001

　　Shanghai and Shenzhen Stock Exchange, each relevant securities company, trust and investment corporation:

　　To Implement¹ Circular on Several Issues Concerning Allowing Domestic Resident Individuals to Invest B-share (Zhengjianfa [2001] No. 22 hereinafter "Circular"), some issues are notified as follows:

　　1. The securities company and trust and investment corporation (hereinafter B-share brokers³) and their securities business departments, when opening B-share margin⁴ account, shall comply with following rules:

　　(1) B-share brokers with valid⁵ Qualification Certificate of B-share Business and License⁶ of Foreign Exchange Business may still act as B-share brokers. Their securities business departments can also conduct B-share broker² business, and open B-share margin accounts according to the Circular.

　　(2) In case that B-share brokers have neither Qualification Certificate of B-share Business nor License of Foreign Exchange Business, while their securities business departments have valid Qualification Certificate of B-share Business and License of Foreign Exchange Business, and have started B-share broker business, the securities business departments may continue their B-share broker business and open B-share margin accounts according to the Circular.

　　(3) B-share brokers and their securities business departments with expired Qualification Certificate of B-share Business and License of Foreign Exchange Business, if they have trading seats in Shanghai and Shenzhen Stock Exchange, they can open B-share margin accounts according to the Circular with the expired Qualification Certificate of B-share Business, expired License of Foreign Exchange Business, and Certificate of B-share Broker Business issued by Shanghai and Shenzhen Stock Exchange.

　　(4) In case of restructured or renamed B-share brokers, if they have started B-share broker business, they may open B-share margin accounts according to the Circular with the old Qualification Certificate of B-share Business and old License of Foreign Exchange Business and the approval document of the restructuring and renaming issued by relevant department.

　　(5) Securities business departments of trust and investment corporation with License of Financial Institution Legal Person issued by the People's Bank of China, when open B-share margin accounts, shall submit their headquarters' License of Financial Institution Legal Person and Qualification Certificate of B-share Business. License of Financial Institution Legal Person may act as License of Foreign Exchange Business.

　　Above-mentioned B-share brokers and their securities business departments may open B-share margin accounts without approval of the State Administration of Foreign Exchange (SAFE). Other Securities companies and trust and investment corporations without License of Foreign Exchange Business are not allowed to conduct B-share broker business and other foreign exchange businesses.

　　2. For opening B-share margin accounts at domestic banks with foreign investment or at overseas banks, B-share brokers shall apply with the local branch of SAFE. After preliminary examination of the local branch, the application shall be submitted to SAFE for approval.

　　3. "Each B-share broker can open only one B-share margin account at one commercial bank" stipulated⁷ in Article 3 of the Circular means that one B-share broker can only open one B-share margin account denominated in US dollar and in HK dollar respectively at all of the outlets⁸ of a commercial bank as a whole in the same city.

　　4. B-share margin accounts can only be used for payment and collection of funds related to B-share trading and dividends⁹, as well as payment of transaction taxation¹⁰ and fees. B-share brokers are not allowed to trade B-share on their own accounts. Their B-share margin accounts can not be used for other purpose. They can not be cross used with other foreign exchange accounts either.

　　5. B-share brokers shall open resident B-share margin accounts and nonresident B-share margin account separately according to ID certificates of B-share investors¹¹ and mark labels to differentiate¹² them. Materials submitted by the investors when they open B-share accounts shall be kept for record.

　　Valid ID certificates refer to Chinese ID cards for resident investors and valid passports of foreign countries for nonresident investors.

　　6. Securities business departments of B-share brokers can only conduct B-share broker business and B-share related businesses, such as consulting and witness. They are not allowed to conduct other foreign exchange businesses. Their B-share margin accounts can only be used for payment and collection of funds related to B-share trading and dividends, as well as payment of transaction taxation and fees.

　　7. After opening B-share margin accounts legally, B-share brokers shall publish account information, including name, address of the bank, account number etc. in local media, and record the account at the local branch of SAFE within 3 days. They shall provide to the local branch of SAFE with the name of the account, the bank, account number, and a photocopy¹³ with their official stamp of the certificate issued by the bank verifying the account.