The official name is RMB common stock. Common shares issued by domestic companies for domestic institutions, organizations or individuals (excluding investors from Taiwan, Hong Kong and Macao) to subscribe and trade in RMB. So it is also called RMB common stock, circulating stock, social public stock and common stock. A shares are not physical shares. Paperless electronic bookkeeping is adopted, and the "T+ 1" delivery system is implemented. There are price limits (10%, 20%, 30%) that restrict both natural persons and institutional investors to open multiple A-share accounts and closed-end fund accounts according to actual needs, with a maximum of 20 accounts.

B shares

The official name is RMB special stock. It is denominated in RMB, subscribed and traded in foreign currency, and listed and traded on domestic (Shanghai, Shenzhen) stock exchanges. Investors are residents and foreigners from Hongkong, Macau and Taiwan Province Province, and mainland residents with legal foreign exchange deposits can also invest. B shares are not physical shares. They rely on paperless electronic bookkeeping and implement the "T+3" delivery system, with price limit (65,438+00%).

H shares

Refers to the shares of Chinese-funded enterprises registered in the Mainland and listed in Hong Kong. Institutional investors, individual investors and international capital investors in Chinese mainland can invest in H shares, but the sum of securities accounts and capital accounts of individual investors in Chinese mainland needs to exceed 500,000 yuan. H is a real stock, and the "T0" delivery system is implemented, and there is no limit on price fluctuation.

The transaction uses RMB.

B shares are traded in foreign exchange.

H shares are traded in Hong Kong dollars.

The pricing of A shares, B shares and H shares is different, so most 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.