Shenzhen, China — November 17, 2025. The Shenzhen Stock Exchange (SZSE) eased on Monday as growth stocks underperformed and investors digested a run of exchange notices on Stock Connect eligibility, listings and fresh fixed‑income supply. By the close, the Shenzhen Component Index edged 0.11% lower to 13,202, while the ChiNext growth board slipped 0.2% to 3,105.2. Across Shanghai and Shenzhen, combined cash‑equity turnover totaled 1.91 trillion yuan, with lithium and forestry names firmer but antimony and glass‑fiber counters weaker. [1]
Key developments from SZSE on November 17, 2025
1) Southbound Stock Connect: Guanghetong (00638) added
SZSE confirmed that Hong Kong‑listed Guanghetong (00638) was added to the Southbound Stock Connect universe effective Nov 17, following the end of its Hong Kong price‑stabilization period and the passing of the A‑share 10‑trading‑day requirement. The inclusion expands eligible choices for mainland investors routing south via Shenzhen–Hong Kong Stock Connect. [2]
2) Temporary trading halt: Xiamen Jiarong Technology (301148)
Xiamen Jiarong Technology requested a temporary halt from the market open on Nov 17 pending disclosure of a material matter; trading will resume after the company publishes the relevant announcement. [3]
3) New A‑share debut tomorrow: China Southern Power Grid’s Digital Grid Research Institute (301638)
China Southern Power Grid Digital Grid Research Institute Co., Ltd. (short name “Nanwang Digital”, ticker 301638) will list on SZSE on Tuesday, Nov 18. The notice states a total share capital of 3.17965 billion shares, with 234,980,159 shares tradable upon listing. Market participants will watch the deal as a sentiment gauge for high‑tech infrastructure names. [4]
4) New ETF listing this week: Southbound High‑Dividend Hong Kong ETF (159127)
The Southern CSI Southbound High‑Dividend ETF (short name “港股通红利 ETF南方”, ticker 159127) will list on SZSE from Nov 20, with same‑day T+0 turnover enabled under exchange rules. The product offers mainland investors a dividend‑focused vehicle tied to southbound‑eligible Hong Kong equities. [5]
5) ABS transfer services expanded (effective Nov 18)
From Nov 18, SZSE will provide negotiated, click, inquiry and auction transfer services for:
- “CITIC Securities – Hongsheng No.1 Phase 5” (SME financing support ABS; codes 500060–500063), and
- “CITIC Securities – Hongtu Phase 2” (codes 500025–500027).
The exchange highlighted participation is limited to professional investors with SZSE A‑share and fund accounts, and reminded members to conduct full risk disclosures. [6]
6) Bonds listing today: LGFVs and corporates add duration and yield choices
A slate of bonds began trading on SZSE today (Nov 17), including:
- Zhejiang Provincial issues:
- Re‑financing General Bond (Phase 4): 10‑year, code 565508 (“浙江2569”), RMB 11.1bn, coupon 1.91%. [7]
- General Bond (Phase 3): 10‑year, code 565510 (“浙江2571”), RMB 3.88bn, coupon 1.91%. [8]
- Special Bond (Phase 57): 10‑year, code 565512 (“浙江2573”), RMB 4.088bn, coupon 1.96%. [9]
- Land Reserve Special Bond (Phase 10) / Special (Phase 58): 5‑year, code 565513 (“浙江2574”), RMB 2.174bn, coupon 1.63%. [10]
- Shenzhen Port Group corporate issue: “25深港01” (code 524523), 3‑year, RMB 1bn, coupon 1.79%, listed from today. [11]
Market context and drivers
The modest pullback in Shenzhen tracked a broader risk‑off tone across Greater China and parts of Asia. Regional outlets reported mainland and Hong Kong equities ended lower amid profit‑taking and a cooling of risk appetite; investors also weighed heightened China–Japan diplomatic tensions over the weekend. [12]
Why today’s SZSE notices matter
- Southbound eligibility (Guanghetong 00638): Inclusion in Stock Connect typically broadens an issuer’s potential investor base and liquidity by opening access to mainland flows via SZSE brokers. For cross‑listed A+H names, timing often follows the end of the stabilization period in Hong Kong and A‑share trading day thresholds—both conditions noted by SZSE in today’s bulletin. [13]
- New listings pipeline: The Nanwang Digital (301638) debut on Tuesday adds to 2025’s lineup of tech‑adjacent listings, while Thursday’s dividend‑tilted ETF (159127) broadens southbound Hong Kong exposure options on SZSE’s ETF shelf. [14]
- Depth in fixed income: Today’s Zhejiang provincial bonds and Shenzhen Port Group corporate issue provide duration and spread choices for institutions using SZSE’s bond platform, which has steadily become a larger part of the exchange’s multi‑asset offering. [15]
- ABS transfer services: Expanded transfer modalities for the CITIC‑sponsored ABS deals signal continuing improvements to secondary‑market plumbing in China’s asset‑backed securities market—important for price discovery and liquidity in SME‑focused financing vehicles. [16]
What to watch next
- Nov 18: Pricing and first‑day trading for Nanwang Digital (301638); any indication of investor appetite for power‑grid digitalization and industrial‑tech themes. [17]
- Nov 20:Southern CSI Southbound High‑Dividend ETF (159127) goes live—flows into dividend‑heavy Hong Kong names may be in focus. [18]
- Stock Connect flows: Monitor whether Guanghetong (00638) sees incremental mainland interest following its Southbound inclusion. [19]
Data and sources
Closing levels, turnover and sector moves are from Xinhua’s Nov 17 market wrap; all listing, eligibility, bond and ABS details are from official SZSE notices dated Nov 17 (unless otherwise noted in the notices themselves). Regional market color is based on RTHK’s close report. [20]
This article is for information purposes only and does not constitute investment advice.
References
1. english.news.cn, 2. www.szse.cn, 3. www.szse.cn, 4. www.szse.cn, 5. www.szse.cn, 6. www.szse.cn, 7. www.szse.cn, 8. www.szse.cn, 9. www.szse.cn, 10. www.szse.cn, 11. www.szse.cn, 12. gbcode.rthk.hk, 13. www.szse.cn, 14. www.szse.cn, 15. www.szse.cn, 16. www.szse.cn, 17. www.szse.cn, 18. www.szse.cn, 19. www.szse.cn, 20. english.news.cn
