Investor Presentaiton
Comparing Stock Connect with QFII/QDII / RQFII
Stock Connect
Business
entity
Stock exchange of
HK and SH
Investment
direction
Both directions
Currency
RMB
Quota
First-come, first-served
Equal opportunities
QFII/QDII / RQFII
Financial institutions such as
banks, asset management
companies etc.
Single direction
Lock up
period
Cross-border
fund
management
Choice of
investment
No restrictions
Funds must return to origin after
selling the shares
Direct investment: Free to
choose stocks for investment
HKD/USD/RMB
Depends on allocation of quota to
each institutions
QFII: 3-month, RQFII: 1-year
Subject to exchange rate risk and
may increase cost
Funds can stay in the local
markets for trading
Indirect investment: Investment
decisions are made by the
licensed institutions
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