Recently, with the approval of the State Council, eight Chinese authorities, including CSRC, PBOC, SAFE, and other regulators, jointly issued the Implementation Plan for the Comprehensive Rectification of Illegal Cross-Border Securities, Futures and Fund Business Activities.
The plan focuses on combating illegal cross-border securities, futures and fund-related operations, while establishing a long-term regulatory framework combining coordinated enforcement and systemic governance. The initiative is expected to help improve the capital market ecosystem, safeguard the healthy development of China s capital markets, and guide investors to conduct overseas investments through lawful channels while better protecting investor rights and interests.
Shanghai Stock Exchange
Newsletter - May 2026
Newsletter - May 2026
Source: SSE, Wind, as of May 31, 2026
SSE Monthly Data
Equity Market Overview
| Market | No. of Listed Companies | Total Market Cap. (RMB tn) | Average Daily Trading Value (RMB bn) | MoM Change (%) |
|---|---|---|---|---|
| Main Board A | 1705 | 53.85 | 950.05 | 29.79 |
| STAR Market | 610 | 13.91 | 484.77 | 72.53 |
| Total (A Shares) | 2315 | 67.77 | 1434.82 | 41.65 |
Index Performance
Note: the indexes are rebased to April 30, 2026
| Indexes | Closing Price | Monthly Performance | YTD Performance | PE* |
|---|---|---|---|---|
| SSE Composite | 4068.57 | -1.06 | 2.51 | 16.68 |
| SSE 50 | 2921.08 | -2.16 | -3.63 | 11.49 |
| STAR 50 | 1751.32 | 11.47 | 30.29 | 99.00 |
| CSI 300 | 4892.12 | 1.76 | 5.66 | 15.04 |
| CSI 500 | 8359.56 | 0.12 | 11.97 | 30.62 |
*Based on previous year's annual report, excluding loss-making companies
Capital Raised through IPO
| Market | 2026 May | 2026 Total | ||
|---|---|---|---|---|
| No. of IPO | Capital Raised (RMB bn) | No. of IPO | Capital Raised (RMB bn) | |
| SSE Main Board | 2 | 1.29 | 8 | 10.99 |
| STAR Market | 1 | 0.96 | 10 | 17.85 |
| Total | 3 | 2.25 | 18 | 28.84 |
Shanghai-Hong Kong Stock Connect
| Average Daily Trading Value (RMB bn) | MoM Change (%) | |
|---|---|---|
| Northbound | 181.47 | 37.82 |
| Southbound | 85.71 | 26.79 |
Bond Market Overview
| Bond Types | Market Value (RMB bn) | MoM Change (%) | Average Daily Trading Value (RMB bn) | MoM Change (%) |
|---|---|---|---|---|
| Treasury bonds | 1296.36 | 1.38 | 69.72 | 1.09 |
| Local government bonds | 2417.16 | 1.24 | 2.46 | -9.71 |
| Financial bonds | 36.26 | 0.03 | 0.00 | -50.07 |
| Corporate bonds & Enterprise bonds | 14603.84 | 1.11 | 68.22 | -10.82 |
| Convertible bonds | 411.89 | -2.72 | 46.97 | 5.19 |
| Asset-backed securities | 1770.32 | 0.35 | 2.76 | -3.80 |
| Total* | 20535.83 | 0.99 | 190.13 | -2.85 |
*Bond repo not included
Fund Market Overview
| Fund Types | No. of Listed Products | Market Value (RMB bn) | MoM Change (%) | Average Daily Trading Value (RMB bn) | MoM Change (%) |
|---|---|---|---|---|---|
| ETF | 878 | 3248.43 | -6.75 | 341.63 | 1.51 |
| LOF | 119 | 13.26 | 3.14 | 1.26 | -52.14 |
| REITs | 55 | 148.40 | -1.35 | 0.47 | 7.16 |
| Total | 1052 | 3410.10 | -6.49 | 343.37 | 1.10 |
Derivatives Market Overview
| Options | Average Daily No. of Contracts Traded (mn) | MoM Change (%) | Volume Put/Call Ratio (%) | Total Open Interest | MoM Change (%) | Open Interest Put/Call Ratio (%) |
|---|---|---|---|---|---|---|
| SSE 50ETF Options | 1.02 | 40.10 | 73.37 | 1.50 | 18.07 | 61.99 |
| CSI 300 ETF Options | 1.24 | 39.38 | 92.48 | 1.10 | -3.83 | 77.06 |
| CSI 500 ETF Options | 2.00 | 32.76 | 104.10 | 1.28 | 9.05 | 107.07 |
| ChinaAMC STAR 50 ETF Options | 3.41 | 148.43 | 115.85 | 2.17 | 18.87 | 116.11 |
| E FUND STAR 50 ETF Options | 0.58 | 140.82 | 114.96 | 0.46 | 14.16 | 113.80 |
SSE New Listed Companies
| Code | Name | Industry | Market Cap. (RMB bn) | PE (TTM) | Listing Day Performance (%) |
|---|---|---|---|---|---|
| Main Board | |||||
| 603435.SH | Quanzhou Jiadeli Electronics Material Co., Ltd. | Electronic Components | 36.92 | 151.60 | 710.15 |
| 603407.SH | Changyu Holding Group Co., Ltd. | Commodity Chemicals | 22.11 | 87.35 | 562.63 |
| STAR Market | |||||
| 688635.SH | Wuhan Changjin Photonics Technology Co., Ltd | Communications Equipment | 67.49 | 672.58 | 1510.52 |
Monthly News Highlights
China Issues Implementation Plan to Combat Illegal Cross-Border Securities and Fund Activities
2026/5/22
https://www.csrc.gov.cn/csrc/c100028/c7634324/content.shtml (original source in Chinese)
https://www.csrc.gov.cn/csrc/c100028/c7634328/content.shtml (official Q&A in Chinese)
SSE and B3 Co-hosts Virtual Roadshow to Promote China-Brazil ETF Connect
2026/5/20
To mark the first anniversary of the China-Brazil ETF Connect, the SSE and B3 jointly hosted the Focus on SSE: Brazil Session virtual roadshow on May 20, attracting participation from more than 40 Brazilian institutions, including asset managers, financial intermediaries, pension funds and banks.
Launched in 2025 as the first ETF connectivity scheme introduced in the South American market, the connect has provided investors in both markets with a convenient channel to access high-quality assets in each other s markets. Currently, 3 ETFs have been listed under the connect scheme.
https://english.sse.com.cn/news//newsrelease/c/c_20260528_10819962.shtml
Launched in 2025 as the first ETF connectivity scheme introduced in the South American market, the connect has provided investors in both markets with a convenient channel to access high-quality assets in each other s markets. Currently, 3 ETFs have been listed under the connect scheme.
SSE Organizes Overseas Investors' A-Share Corporate Access Tour
2026/5/17
From May 11 to 13, the Shanghai Stock Exchange organized an overseas investor research tour to enhance global investors' understanding of Shanghai-listed companies and promote high-level capital market opening-up. More than 30 institutions including sovereign wealth funds, pension funds, and asset managers visited leading sci-tech companies in Beijing and Shanghai through site tours and management meetings, while the SSE also hosted centralized roadshows for technology and innovation enterprises. The strong participation highlighted growing international interest in China's high-quality innovation-driven assets and the long-term investment opportunities in the STAR Market and broader Shanghai market.
https://english.sse.com.cn/news//newsrelease/c/c_20260519_10818933.shtml
CSRC Issues China's First Departmental Rules for Derivatives Trading Supervision
2026/5/15
The China Securities Regulatory Commission (CSRC) released the Administrative Measures for the Supervision and Administration of Derivatives Trading (Trial), marking the first departmental regulation governing China's derivatives market under CSRC supervision. The CSRC stated that the rules further clarify the core institutional framework for the derivatives market, helping regulate trading activities, prevent market risks, safeguard investors' legitimate rights and interests, and promote the stable and orderly development of the derivatives market, while better supporting risk management, resource allocation, and the real economy.
https://www.csrc.gov.cn/csrc/c100028/c7632835/content.shtml (original source in Chinese)
Source: SSE, Wind, as of May 31, 2026
Global Investor Services Team
Dept. of International Affairs
Shanghai Stock Exchange | 上海证券交易所
Dept. of International Affairs
Shanghai Stock Exchange | 上海证券交易所
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