Hong Kong Stocks and H-shares: Stop Confusing Them!
Key Point: Place of Registration Determines Trading Rules
📱 Three Telecom Company Cases
China Mobile = Red Chip Stock (registered in Hong Kong, 28% tax burden)
China Telecom = H-share (registered in Mainland China)
China Unicom = Complex Structure (A-shares ≠ Hong Kong shares 1:1)
🔑 Core Differences
H-shares: Registered in mainland China, dual market segregation, two independent pools with no cross-trading
Red Chip Stocks: Registered overseas, single market connectivity, 75% existing shareholders + 25% public shareholders in the same pool
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