Broker China reported that a number of leading brokerage firms, including CSC (06066.HK)  0.000 (0.000%)    Short selling $8.87M; Ratio 14.060%   , have formally launched the online account opening function for foreigners holding the new version of the permanent residence card, which allows them to open A-share securities accounts on their own without visiting a physical store.

Previously, the Beijing Securities Regulatory Commission issued a notice requiring brokerage firms in its jurisdiction to complete the adaptation for the new version of the permanent resident card for foreigners by the end of December this year, so as to further enhance the convenience of permanent resident cards.

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The notice stressed work to realize the compatibility of the old and new versions of the permanent resident card, to ensure that the cardholder can use the permanent resident card as an identity document, to normally trade securities and futures, and to subscribe for and redeem shares of investment funds, among other related businesses.

Sources from brokerage firms explained that foreigners who have obtained China's permanent resident status card can already open A-share accounts normally before the change, but previously they could not do it online and needed to go to a physical store. Mobile applications of these brokerage firms have also made some adaptive improvements for the new version of permanent resident cards, allowing for online account opening with them.

(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-05-13 16:25.)

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