有關中國股票指數的名詞解釋(ZT)

FAQs Related to the iShares MSCI China Tracker

Here are some of the most frequently asked questions about the iShares MSCI China Tracker. For further information, please consult your Broker or Financial Adviser.

1. What are the different types of shares classes available in the Chinese market? 2. What is the iShares MSCI China Tracker (2801)? 3. What does the iShares MSCI China Tracker hold? 4. Does the iShares MSCI China Tracker pay dividends? 5. What is MSCI? 6. What is the MSCI China (HKD) Index? 7. What is a free-float adjusted index? 8. How does MSCI decide which securities are included in the Index? 9. How often is the MSCI China (HKD) Index rebalanced?

1. What are the different types of shares classes available in the Chinese market? A-shares represent the largest class of Chinese shares. However, these shares trade in the currency of China, The Renminbi, and are available only to Chinese residents and Qualified Foreign Institutional Investors (QFIIs). QFIIs are typically large investment houses which must conform to strict QFII requirements - including a minimum one-year holding period before repatriation of funds. B-shares are incorporated in China and trade on either the Shanghai or Shenzhen Stock Exchanges. They are quoted in US dollars on the Shanghai Stock Exchange and HK dollars on the Shenzhen Stock Exchange. They can be traded by non-residents with appropriate foreign currency dealing accounts. H-shares are incorporated in China and trade on the Hong Kong Stock Exchange. They are quoted in HK dollars. There are no resident restrictions on who can trade H-shares. N-shares are incorporated in China and trade on the New York Stock Exchange. They are quoted in US dollars. There are no resident restrictions on who can trade N-shares. Red Chip shares are incorporated in Hong Kong and traded on the Hong Kong Stock Exchange. They are quoted in HK dollars. Red Chip companies are substantially owned directly or indirectly by the Chinese government and have the majority of their business interest in mainland China. Like H- shares, there are no resident restrictions on who can trade Red Chip shares.

2. What is the iShares MSCI China Tracker (2801)? The iShares MSCI China Tracker ("MSCI China Tracker") is an exchange traded fund (ETF) listed on the Stock Exchange of Hong Kong and is denominated in HK dollars. The fund seeks results that general correspond to the MSCI China (HKD) Index.

3. What does the iShares MSCI China Tracker hold? The Fund holds H-shares and red chip shares that are listed in Hong Kong; B-shares that are listed in Shanghai and Shenzhen; and N-shares that are listed in New York.

4. Does the iShares MSCI China Tracker pay dividends? The Fund reinvests cash dividends (if any) on an ongoing basis, and makes an annual income distribution towards the end of each calendar year to all shareholders.

5. What is MSCI? Morgan Stanley Capital International Inc. ("MSCI") is the leading provider of cross border equity benchmarks to the global investment community. MSCI indices and supporting data are used by over 1,500 institutions including fund managers, consultants and broker-dealers. With over 30 years of experience, an estimated 85% market share and over US$3 trillion of assets benchmarked to MSCI indices, thousands of professionals rely upon MSCI.

6. What is the MSCI China (HKD) Index? The MSCI China Index was originally designed as a benchmark representing PRC companies that are freely available only to non-PRC domestic investors. The Index is free-float adjusted, calculated in HK dollars and published in real time. Securities eligible for inclusion include H-shares, red chip shares, B-shares and N-shares.

7. What is a free-float adjusted index? Free-float adjustments are applied to an index constituent's total shares outstanding to determine its index weight. Adjustments are made to excluded those shares held by controlling group such as government holdings, foreign ownership limits, cross holdings and family holdings. The resulting shares outstanding after free-float is applied represents the true number of shares available for institutional and retail investors in the marketplace.

8. How does MSCI decide which securities are included in the index? The weighting of a company in the Index is intended to be a reflection of the current importance of that company in the market as a whole. Stocks are selected and weighted according to market capitalization according to the same consistent methodology that is applied to all MSCI indices globally.

9. How often is the MSCI China (HKD) Index rebalanced? The quarterly review of the Index constituents take place in March, June, September and December.