China has built up a multi-level stock market system, comprising the main board at the Shanghai Stock Exchange and the Shenzhen Stock Exchange, as well as the SME board and the growth enterprise board, ChiNext, at the Shenzhen Stock Exchange.
Stocks traded on Shanghai and Shenzhen stock exchanges are divided into A shares and B shares. A shares are issued by domestic companies and traded in yuan. B shares carry a yuan-denominated face value, but are traded in foreign currencies. As of February 19, 2001, domestic investors with foreign exchange accounts were allowed to trade B shares. Before this, it was restricted to only foreign investors.