Also known as: 沪深300 · SHSZ300 Index (Bloomberg) · 000300 (CSI code) · .CSI300 (RIC)
At a glance
- Weighting schemeFree float market cap
- Review frequencySemi-annual
- Constituent count300
- Buffer240 / 360
| Field | Value | Source text | Reading (model) |
|---|---|---|---|
| M1 Identity, objective, classification · 13 fields | |||
| Index name | CSI 300 Index | 沪深300 指数由沪深市场中规模大、流动性好的最具代表性的300 只证券组成，于2005 年4 月8 日正式发布，以反映沪深市场上市公司证券的整体表现。Open p.3 ↗ |
The index is the CSI 300 Index. |
| Index short name | 沪深300 | 沪深300 指数由沪深市场中规模大、流动性好的最具代表性的300 只证券组成Open p.3 ↗ |
The short name used in the document is 沪深300. |
| Local index name | 沪深300指数 | 沪深300 指数由沪深市场中规模大、流动性好的最具代表性的300 只证券组成Open p.3 ↗ |
The local index name is 沪深300指数. |
| Index code | 000300 | 上海证券交易所行情系统代码：000300深圳证券交易所行情系统代码：399300Open p.16 ↗ |
The index code in the Shanghai Stock Exchange market data system is 000300. |
| Vendor codes | Local: 000300, 399300 | 上海证券交易所行情系统代码：000300深圳证券交易所行情系统代码：399300Open p.16 ↗ |
The exchange market-data codes are 000300 in Shanghai and 399300 in Shenzhen. |
| Administrator | 中证指数有限公司 | 对定期调整公告日和生效日之间停牌的新进样本，中证指数有限公司将决定是否对其进行调整。Open p.10 ↗ |
The index administrator identified in the text is CSI Index Co., Ltd. |
| Launch date | 2005-04-08 | 于2005 年4 月8 日正式发布，以反映沪深市场上市公司证券的整体表现。Open p.3 ↗ |
The index was officially published on April 8, 2005. |
| Base date | 2004-12-31 | 沪深300 指数以2004 年12 月31 日为基日，基点为1000 点。Open p.4 ↗ |
The base date is December 31, 2004. |
| Base value | 1,000 index points | 沪深300 指数以2004 年12 月31 日为基日，基点为1000 点。Open p.4 ↗ |
The base value is 1000 points. |
| Objective | 反映沪深市场上市公司证券的整体表现 | 沪深300 指数由沪深市场中规模大、流动性好的最具代表性的300 只证券组成，于2005 年4 月8 日正式发布，以反映沪深市场上市公司证券的整体表现。Open p.3 ↗ |
The index is designed to reflect the overall performance of securities of companies listed in the Shanghai and Shenzhen markets. |
| Market classification | China A | 指数样本空间由同时满足以下条件的非ST、*ST 沪深A 股和红筹企业发行的存托凭证组成Open p.3 ↗ |
The index covers A-shares in the Shanghai and Shenzhen markets. |
| Size segment | Large | 沪深300 指数由沪深市场中规模大、流动性好的最具代表性的300 只证券组成Open p.3 ↗ |
The index targets large and highly liquid representative securities. |
| Index family type | Market cap | 沪深300 指数由沪深市场中规模大、流动性好的最具代表性的300 只证券组成Open p.3 ↗ |
The index is a broad market-capitalization-based index covering representative Shanghai and Shenzhen securities. |
| M2 Universe · 4 fields | |||
| Markets | Shanghai, Shenzhen | 指数样本空间由同时满足以下条件的非ST、*ST 沪深A 股和红筹企业发行的存托凭证组成Open p.3 ↗ |
The universe covers the Shanghai and Shenzhen markets. |
| Boards | STAR Market, ChiNext | 科创板证券、创业板证券：上市时间超过一年。其他证券：上市时间超过一个季度Open p.3 ↗ |
The methodology expressly identifies STAR Market and ChiNext securities and applies a one-year listing-history requirement to them. |
| Security types | A share, Dr | 指数样本空间由同时满足以下条件的非ST、*ST 沪深A 股和红筹企业发行的存托凭证组成Open p.3 ↗ |
The universe consists of Shanghai and Shenzhen A-shares and depositary receipts issued by red-chip enterprises. |
| Exclusions | ST securities, *ST securities | 指数样本空间由同时满足以下条件的非ST、*ST 沪深A 股和红筹企业发行的存托凭证组成Open p.3 ↗ |
ST and *ST securities are excluded from the index sample space. |
| M3 Eligibility screens · 6 fields | |||
| Suspended deletion price | Major negative event: 0.00001 CNY if still suspended; if trading resumes at least one trading day before the effective date, the latest closing price is used and announced; Other cases: Closing price before suspension | 若剔除证券处于停牌状态且停牌原因为重大负面事件，则以0.00001 元价格剔除，若其在距生效日至少一个交易日前复牌，则变更为最新收盘价并公告。其他情况则以停牌前收盘价剔除。Open p.10 ↗ |
A deleted security suspended because of a major negative event is removed at CNY 0.00001 unless it resumes trading at least one trading day before implementation, in which case the latest close is used; otherwise the last pre-suspension close is used. |
| Suspension between announcement and effective date | CSI Index Co., Ltd. decides whether to adjust a newly added sample that is suspended between the periodic adjustment announcement date and the effective date. | 对定期调整公告日和生效日之间停牌的新进样本，中证指数有限公司将决定是否对其进行调整。Open p.11 ↗ |
If a newly added constituent is suspended between announcement and implementation, CSI Index determines whether to adjust it. |
| Trading history | Minimum value: 3 months; Exceptions: STAR Market and ChiNext securities must have been listed for more than one year., Other securities listed for less than one quarter may qualify if their average daily total market capitalization since listing ranks in the top 30 | 科创板证券、创业板证券：上市时间超过一年。其他证券：上市时间超过一个季度，除非该证券自上市以来日均总市值排在前30 位。Open p.3 ↗ |
STAR Market and ChiNext securities require more than one year since listing; other securities require more than one quarter unless their average daily total market capitalization since listing ranks in the top 30. |
| Minimum size | Metric: Rank; Threshold: 30 | 其他证券：上市时间超过一个季度，除非该证券自上市以来日均总市值排在前30 位。Open p.3 ↗ |
A newly listed security that otherwise lacks the required listing time is excepted if its average daily total market capitalization since listing ranks in the top 30. |
| Financial screens | At periodic review, securities with financial losses are in principle not selected as new candidates unless inclusion is needed for index representativeness; this rule does not apply to STAR Market-listed securities. | 定期审核样本时，除科创板上市证券外，财务亏损的证券原则上不列为候选新样本，除非该证券影响指数的代表性。Open p.11 ↗ |
Except for STAR Market-listed securities, financially loss-making securities are generally not chosen as new candidates unless they affect the index's representativeness. |
| Suspension rule | Existing constituents: Securities suspended continuously for more than 25 trading days and still suspended at the data cutoff are prioritized for deletion if they fall in the candidate deletion list; suspensions near 25 trading days are referred to the expert committee; New candidates: Securities suspended at the expert committee meeting with no clear resumption expectation cannot in principle become new candidates; Reentry after long suspension: A security suspended for more than 25 trading days during the observation period may enter the index only three months after trading resumes, except in special circumstances permitted by the expert committee | 至数据考察截止日已连续停止交易超过25 个交易日且仍未恢复交易的样本，如果落入候选剔除名单，则原则上列为优先剔除证券。Open p.10 ↗ |
Long-suspended existing constituents may be prioritized for deletion, suspended applicants with no resumption expectation are generally excluded, and securities suspended for more than 25 trading days must wait three months after resumption before entry unless the expert committee allows an exception. |
| M4 Selection and constituent count · 7 fields | |||
| Company quality condition | Companies must be operating well, have no material violations, no major financial-reporting problems, and no obvious abnormal price movements or market manipulation. | 沪深300 指数样本是按照以下方法选择经营状况良好、无违法违规事件、财务报告无重大问题、证券价格无明显异常波动或市场操纵的公司Open p.3 ↗ |
The selection targets companies in good operating condition without major legal, financial-reporting, abnormal-price, or market-manipulation problems. |
| Reserve replacement order | When an interim replacement is needed, the highest-ranked security on the reserve list is selected sequentially. | 当指数因为样本退市、合并等原因出现样本空缺或其他原因需要临时更换样本时，依次选择备选名单中排序最靠前的证券作为样本。Open p.14 ↗ |
Ad hoc vacancies caused by delisting, merger, or other reasons are filled by selecting the highest-ranked available security on the reserve list. |
| Reserve list replenishment | The reserve list is replenished and announced promptly when more than half of its securities have been used. | 当备选名单中证券数量使用过半时，中证指数有限公司将及时补充并公告新的备选名单。Open p.14 ↗ |
When more than half of the reserve securities have been used, CSI promptly replenishes and announces a new reserve list. |
| Selection method | Rank by metric | 对样本空间内证券按照过去一年的日均成交金额由高到低排名，剔除排名后50%的证券；对样本空间内剩余证券，按照过去一年的日均总市值由高到低排名，选取前300 名的证券作为指数样本。Open p.3 ↗ |
Securities are screened by liquidity and then ranked by market capitalization to select the largest 300 names. |
| Ranking metrics | Name: Average daily turnover; Window: Past one year; Direction: Descending; Step order: 1, Name: Average daily total market capitalization; Window: Past one year; Direction: Descending; Step order: 2 | 对样本空间内证券按照过去一年的日均成交金额由高到低排名，剔除排名后50%的证券；对样本空间内剩余证券，按照过去一年的日均总市值由高到低排名，选取前300 名的证券作为指数样本。Open p.3 ↗ |
Eligible securities are first ranked by average daily turnover over the past year and, after removing the bottom 50%, ranked by average daily total market capitalization over the past year. |
| Target constituent count | 300 | 对样本空间内剩余证券，按照过去一年的日均总市值由高到低排名，选取前300 名的证券作为指数样本。Open p.3 ↗ |
The index selects the top 300 securities by average daily total market capitalization after the liquidity screen. |
| Reserve list | Size rule: 15 reserve securities, generally equal to 5% of the index constituent count | 在每次样本定期调整时，设置备选名单，备选名单中证券数量一般为指数样本数量的5%，沪深300 指数设置15 只备选样本。Open p.14 ↗ |
At each periodic review, the index maintains 15 reserve securities, generally equal to 5% of the constituent count, for interim replacements. |
| M5 Weighting and capping · 8 fields | |||
| Free float definition | Free float is total sample share capital minus restricted and essentially non-circulating shares, including strategic and other specified holdings at or above 5%. | 沪深300 指数剔除了上市公司股本中的限售股份，以及由于战略持股或其他原因导致的基本不流通股份，剩下的股本称为自由流通股本，也即自由流通量。Open p.5 ↗ |
Free-float share capital is total share capital excluding restricted shares and shares that are essentially non-circulating because of strategic holdings or other reasons. |
| Non free float share categories | Shares held long term by founders family and senior management, State owned shares, Shares held by strategic investors, Employee stock ownership plan shares, Restricted shares specified in listed company announcements, Shares held at or above 5 percent by those four shareholder groups and concert parties | （1）公司创建者、家族、高级管理者等长期持有的股份（2）国有股份（3）战略投资者持有的股份（4）员工持股计划上市公司公告明确的限售股份和上述四类股东及其一致行动人持股达到或超过5%的股份，被视为非自由流通股本。Open p.5 ↗ |
Non-free-float shares include long-term founder, family, management, state, strategic investor, employee-plan, announced restricted, and qualifying 5%-or-greater holdings. |
| Free float estimation sources | CSI estimates free float from multiple objective information sources. | 自由流通量=样本总股本- 非自由流通股本中证指数有限公司根据多种客观的信息来源估算自由流通量。Open p.5 ↗ |
China Securities Index Company estimates free float using multiple objective information sources. |
| Adjusted capital formula | Free float ratio: free_float_share_capital / total_sample_share_capital; Adjusted share capital: total_sample_share_capital × weighting_ratio | 自由流通比例= 自由流通量/样本总股本 调整股本数=样本总股本× 加权比例Open p.5 ↗ |
The free-float ratio is free float divided by total sample share capital, and adjusted share capital is total sample share capital multiplied by the weighting ratio. |
| Weighting scheme | Free float market cap | 中证指数有限公司在计算沪深300 指数时，采用分级靠档的方法，即根据自由流通量所占样本总股本的比例（即自由流通比例）赋予总股本一定的加权比例Open p.5 ↗ |
The index uses adjusted share capital based on free-float-adjusted weighting ratios to calculate constituent weights. |
| Free float factor | Method: Banded; Bands: To: 15; Factor: 20, From: 15; To: 20; Factor: 20, From: 20; To: 30; Factor: 30, From: 30; To: 40; Factor: 40, From: 40; To: 50; Factor: 50, From: 50; To: 60; Factor: 60, From: 60; To: 70; Factor: 70, From: 70; To: 80; Factor: 80, From: 80; Factor: 100 | 自由流通比≤15 (15，20](20，30](30，40](40，50](50，60](60，70](70，80] >80例(%)上调至加权比例 最接近20 30 40 50 60 70 80 100 (%) 的整数值Open p.6 ↗ |
The weighting ratio is assigned by free-float bands: up to 15% is rounded to 20%, then 30%, 40%, 50%, 60%, 70%, 80%, and above 80% maps to 100%. |
| Shares outstanding | Sample total share capital is adjusted to an adjusted share count equal to total sample share capital multiplied by the banded weighting ratio. | 自由流通比例= 自由流通量/样本总股本 调整股本数=样本总股本× 加权比例Open p.5 ↗ |
Adjusted share capital equals total sample share capital multiplied by the applicable weighting ratio. |
| Divisor adjustment rule | The new divisor equals the prior divisor multiplied by the post-adjustment adjusted market capitalization divided by the pre-adjustment adjusted market capitalization, calculated after the close before the change becomes effective. | 为保证指数的连续性，当指数样本、股本结构发生变化或样本的市值出现非交易因素的变动时，指数在变动生效日前一日收盘后采用除数修正法修正原除数。From CSI Calculation Rules for Equity Indices ↗ |
The divisor is corrected after the close before the effective date so that the new divisor equals the old divisor times the ratio of adjusted post-change market value to pre-change market value. |
| M6 Review and rebalance schedule · 7 fields | |||
| Risk warning monthly adjustment effective date | Effective on the next trading day after the second Friday of each month | 每月第二个星期五的下一交易日将被实施风险警示的样本公司从指数中剔除。上述调整一般在生效日前2 个交易日对外公告。Open p.13 ↗ |
Companies placed under risk warning are removed from the index on the next trading day after the second Friday of each month. |
| Review frequency | Semi-annual | 依据样本稳定性和动态跟踪相结合的原则，每半年审核一次沪深300 指数样本，并根据审核结果调整指数样本。Open p.9 ↗ |
The CSI 300 Index samples are reviewed once every six months. |
| Review types | Semi annual review, Ad hoc | 依据样本稳定性和动态跟踪相结合的原则，每半年审核一次沪深300 指数样本，并根据审核结果调整指数样本。Open p.9 ↗ |
The index is maintained through regular semi-annual reviews and, when special events affect representativeness or investability, temporary adjustments. |
| Review months | May, November | 一般在每年5 月和11 月的下旬审核沪深300 指数样本，样本调整实施时间分别为每年6 月和12 月的第二个星期五的下一交易日。Open p.9 ↗ |
Regular sample reviews are generally conducted in the latter parts of May and November. |
| Data cutoff rule | May review window: May 1 of the preceding year through April 30 of the review year; November review window: November 1 of the preceding year through October 31 of the review year; New listing rule: Data for securities listed during the period are used from their sixth trading day since listing; Data types: Trading data, Financial data | 每年5 月份审核样本时，参考依据主要是上一年度5 月1 日至审核年度4 月30 日（期间新上市证券为上市第六个交易日以来）的交易数据及财务数据；每年11 月份审核样本时，参考依据主要是上一年度11 月1 日至审核年度10 月31 日（期间新上市证券为上市第六个交易日以来）的交易数据及财务数据。Open p.9 ↗ |
The May review mainly uses trading and financial data from May 1 of the prior year through April 30 of the review year, and the November review uses data from November 1 of the prior year through October 31, with data for new listings beginning from their sixth trading day. |
| Announcement rule | Risk warning adjustments: Generally announced two trading days before the effective date | 每月第二个星期五的下一交易日将被实施风险警示的样本公司从指数中剔除。上述调整一般在生效日前2 个交易日对外公告。Open p.13 ↗ |
Removals caused by risk warnings are generally announced two trading days before they take effect; the document does not specify a general announcement timing for regular review results. |
| Effective date rule | The next trading day after the second Friday of June and December | 一般在每年5 月和11 月的下旬审核沪深300 指数样本，样本调整实施时间分别为每年6 月和12 月的第二个星期五的下一交易日。Open p.9 ↗ |
Regular sample adjustments take effect on the next trading day after the second Friday in June and December. |
| M7 Buffers and turnover control · 3 fields | |||
| Buffer zone | Entry rank: 240; Exit rank: 360 | 为有效降低指数样本周转率，沪深300 指数样本定期调整时采用缓冲区规则，排名在前240 名的候选新样本优先进入指数，排名在前360 名的老样本优先保留。Open p.9 ↗ |
In periodic adjustments, candidate new samples ranked within the top 240 have priority for inclusion, while existing samples ranked within the top 360 have priority for retention. |
| Liquidity buffer existing | Metric: Daily average turnover rank; Threshold: 60% | 如果沪深300 指数老样本日均成交金额在样本空间中排名前60%，则参与下一步日均总市值的排名。Open p.9 ↗ |
An existing CSI 300 sample proceeds to the next daily-average total-market-capitalization ranking if its average daily turnover ranks in the top 60% of the sample space. |
| Maximum turnover per review | 10% of constituents | 定期调整指数样本时，每次调整数量比例一般不超过10%。Open p.9 ↗ |
In regular sample adjustments, the proportion of samples changed at each review is generally no more than 10%. |
| M8 Corporate actions, IPOs, ad-hoc changes · 11 fields | |||
| Dividend treatment | Price index: No correction is made for cash dividends and the index is allowed to fall naturally; Total return and net return indices: Corrected according to the ex-dividend reference price before the sample's ex-dividend date | 除息：凡有样本除息（分红派息），沪深300 指数不予修正，任其自然回落；沪深300 全收益指数、沪深300 净收益指数在样本除息日前按照除息参考价予以修正Open p.8 ↗ |
The CSI 300 price index is not corrected for sample cash dividends, while the total-return and net-return indices are corrected using the ex-dividend reference price before the ex-dividend date. |
| Rights or share restructuring treatment | For bonus shares, rights issues, stock splits or reverse splits, the index is corrected before the ex-rights base date using the new shares and price. | 除权：凡有样本送股、配股、拆股或缩股时，在样本的除权基准日前修正指数，按照新的股本与价格计算样本调整市值。修正后调整市值= 除权报价× 除权后的调整股本数+ 修正前调整市值（不含除权证券）。Open p.8 ↗ |
For bonus shares, rights issues, stock splits or share consolidation, the index is corrected before the ex-rights base date using the new share capital and price. |
| Temporary share change effective date | Generally two trading days after the share listing date stated in the corporate-event announcement; if the announcement is later than the share listing date, the trading day after the announcement is treated as the share listing date. | 其中，临时调整生效日一般为引起总股本累计变动达到或超过5%时的公司事件公告中的股份上市日延后两个交易日。 （如上市公司公告日晚于股份上市日的，则将公告日的下一交易日视为股份上市日。）Open p.14 ↗ |
A temporary share adjustment generally takes effect two trading days after the announced share listing date, with the trading day after the announcement used if the announcement is later than the listing date. |
| Divisor adjustment for sample changes | The index divisor is corrected before regular or temporary sample adjustments become effective. | 当指数样本定期调整或临时调整生效时，在调整生效日前修正指数。Open p.8 ↗ |
When regular or temporary constituent adjustments become effective, the index is corrected before the adjustment effective date. |
| Fast entry replacement | The original constituent with the lowest average daily total market capitalization over the past year is removed when a fast-entering security is added. | 启用快速进入指数的规则，即在其上市第十个交易日结束后将其纳入指数，同时剔除原样本中过去一年日均总市值排名最低的证券。Open p.11 ↗ |
When a newly issued security enters through the fast-entry rule, the existing sample with the lowest one-year average daily total market capitalization is removed. |
| Fast entry | Size threshold: Issuance market capitalization, calculated as issue price multiplied by total shares, ranks among the top 10 in the Shanghai and Shenzhen markets; Timing: Included after the close of the tenth trading day after listing, unless listing is fewer than 20 trading days before the next regular review effective date; otherwise it is implemented with that regular review; Excluded boards: STAR Market, ChiNext | 对新发行证券的发行总市值（公式为：发行价*总股本）和全部证券自该新发行证券上市公告日起过去一年的日均总市值进行比较，对于符合样本空间条件、且发行总市值排名在沪深市场前10 位的新发行证券，启用快速进入指数的规则，即在其上市第十个交易日结束后将其纳入指数，同时剔除原样本中过去一年日均总市值排名最低的证券。科创板和创业板上市证券不适用该规则。当新发行证券符合快速进入指数的条件，但上市时间距下一次样本定期调整生效日不足20 个交易日时，不启用快速进入指数的规则，与下次定期调整一并实施。Open p.11 ↗ |
A newly issued security that meets sample-space conditions and whose issuance market capitalization ranks among the top 10 in the Shanghai and Shenzhen markets is fast-entered after the close of its tenth trading day, except for STAR Market and ChiNext securities and cases where the next regular review becomes effective within 20 trading days. |
| Ad-hoc deletion | Delisting, Prolonged suspension, Risk warning, Acquisition, Bankruptcy, Other | 在有特殊事件发生，以致影响指数的代表性和可投资性时，中证指数有限公司将对沪深300 指数样本做出必要的临时调整。Open p.11 ↗ |
Temporary removals may occur for delisting, suspension based on the reason, risk warning, acquisitions or takeovers, bankruptcy, and other special events affecting index representativeness and investability. |
| Replacement policy | Reserve list | 样本公司合并：合并后的新公司证券保留样本资格，产生的样本空缺由备选名单中排序最靠前的证券填补。Open p.12 ↗ |
Vacancies from mergers, delisting, bankruptcy and certain spin-offs are filled by the highest-ranked security on the reserve list. |
| Merger spinoff rules | Sample merges with sample: The merged company's security retains sample eligibility and any vacancy is filled by the highest-ranked reserve security; Sample merges with nonsample: The merged company's security retains sample eligibility; Nonsample merges sample: If the resulting company ranks higher than the top-ranked reserve security, it becomes a sample; otherwise the top-ranked reserve security fills the vacancy; Nonsample merger or reorganization: If the resulting company's total market capitalization ranks in the market's top 10, fast-entry rules apply; otherwise it is considered at the next regular review; Spin off: Eligibility of spun-off companies depends on ranking, with reserve-list securities used when necessary and removals of the lowest-ranked existing samples to keep the sample count unchanged | 样本公司合并：合并后的新公司证券保留样本资格，产生的样本空缺由备选名单中排序最靠前的证券填补。样本公司合并非样本公司：一家样本公司合并另一家非样本公司时，合并后的新公司证券保留样本资格。非样本公司合并样本公司：一家非样本公司收购或接管另一家样本公司时，如果合并后的新公司证券排名高于备选名单上排名最高的证券，则新公司证券成为指数样本；否则由备选名单上排序最靠前的证券作为指数样本。非样本公司之间的合并、分立、收购和重组：如果这些行为导致新公司证券的总市值排名在全市场前10 位，实施快速进入规则。否则，在样本定期调整时一并考虑。Open p.12 ↗ |
Mergers and spin-offs are handled according to the ranking and sample status of the resulting companies, with retention, fast entry, reserve-list replacement, and deletion of the lowest-ranked securities used to preserve the sample count. |
| Share or float change threshold | 5% | 当样本股本发生由其他公司事件（如增发、债转股、期权行权等）引起的股本变动累计达到或超过5%时，对其进行临时调整，在样本的股本变动日前修正指数。修正后调整市值= 收盘价× 变动后的调整股本数当样本股本发生由其他公司事件引起的总股本变动累计不及5%时，对其进行定期调整，在定期调整生效日前修正指数。Open p.8 ↗ |
When cumulative total share-capital changes caused by other corporate events reach or exceed 5%, a temporary adjustment is made; changes below 5% are implemented at the regular adjustment. |
| Deletion price | Default price: latest closing price; Major negative event suspended price: 0.00001; Currency for a share example: CNY | 原则上，以最新收盘价剔除指数样本。当决定剔除指数样本时，剔除证券处于停牌状态且停牌原因为触及交易类强制退市情形等重大负面事件的，一般以系统最低价格（目前为0.00001）剔除。From CSI Constituent Adjustment Rules for Equity Indices ↗ |
Constituents are generally removed at the latest closing price; if a removed security is suspended because of a trading-related mandatory delisting trigger or other major negative event, it is removed at the system minimum price, currently 0.00001. |
| M9 Calculation and return variants · 12 fields | |||
| Total return calculation schedule | daily closing values | 为满足投资者的需要，中证指数有限公司同时计算沪深300 全收益指数和净收益指数的日收盘值。Open p.6 ↗ |
CSI calculates the daily closing values of the gross total return and net total return indices. |
| Adjusted share count method | Adjusted share count is derived by adjusting constituent share capital using the free-float and tiered weighting-factor method. | 指数计算中的调整股本数系根据分级靠档的方法对样本股本进行调整而获得。要计算调整股本数，需要确定自由流通量和分级靠档两个因素。Open p.4 ↗ |
Adjusted share count is determined from free float and the tiered adjustment method applied to constituent share capital. |
| Formula type | Divisor | 指数计算公式为：报告期指数= 报告期样本的调整市值 × 1000除数其中，调整市值= ∑(证券价格×调整股本数)。Open p.4 ↗ |
The index is calculated using adjusted market capitalization divided by a divisor and multiplied by 1,000. |
| Price source | Real-time transaction prices from the Shanghai and Shenzhen stock exchange market-data systems; if no trade occurs, the opening reference price is used. | 沪深300 指数实时计算，样本实时成交价格来自上海证券交易所与深圳证券交易所行情系统。具体做法是，在交易所交易时段，用交易所发布的实时行情计算指数(无成交者取交易所行情系统提供的开盘参考价或中证指数有限公司自行维护的开盘参考价)，并实时对外发布。Open p.5 ↗ |
Constituent prices come from the Shanghai and Shenzhen exchange market-data systems, with the latest traded price used when available and the opening reference price used when there is no trade. |
| Calculation frequency | Real time | The CSI 300 Index is calculated and published in real time during exchange trading sessions, with the update frequency determined by the official market-data interfaces. | |
| Precision | 3 decimal places | 沪深300 指数以“点”为单位，精确到小数点后3 位。Open p.4 ↗ |
The CSI 300 Index is quoted in points and published to three decimal places. |
| Return variants | PR, GTR, NTR | 为满足投资者的需要，中证指数有限公司同时计算沪深300 全收益指数和净收益指数的日收盘值。沪深300 全收益指数、净收益指数是沪深300 指数的辅指数Open p.6 ↗ |
The index family includes the price index, a gross total return index, and a net total return index. |
| Withholding tax basis | 10% applicable tax rate for after-tax cash dividends in the net total return index | 开盘参考净价是指根据公司事件（如现金分红）调整的当日税后开盘参考价格，适用税率为10%。Open p.7 ↗ |
The net total return index uses after-tax opening reference prices for corporate events such as cash dividends, applying a 10% tax rate. |
| Dividend treatment | Gross total return reinvests pre-tax cash dividends and net total return reinvests after-tax cash dividends; their index levels do not fall mechanically on ex-dividend events. | 沪深300 全收益指数、净收益指数的计算中考虑了样本税前、税后现金红利的再投资收益，供投资者从不同角度考量指数。Open p.6 ↗ |
The gross and net total return indices incorporate reinvestment of pre-tax and after-tax cash dividends, respectively, so their levels do not naturally decline when constituents pay dividends. |
| Divisor adjustment | constituent list changes, share capital structure changes, non-trading changes in constituents' adjusted market capitalization | 当样本名单、股本结构发生变化或样本的调整市值出现非交易因素的变动时，根据样本股本维护规则，采用“除数修正法”修正原除数，以保证指数的连续性。Open p.4 ↗ |
The divisor is corrected when the constituent list or share-capital structure changes, or when non-trading factors change a constituent's adjusted market capitalization. |
| Market disruption rule | CSI Index Co. decides according to the circumstances whether to continue calculating the index when market data from the Shanghai or Shenzhen exchanges is abnormal. | 当沪深证券交易所行情发生异常情况时，中证指数有限公司视情况决定是否继续计算指数。Open p.5 ↗ |
If abnormal conditions occur in Shanghai or Shenzhen exchange market data, CSI Index Co. determines on a case-by-case basis whether to continue calculating the index. |
| Recalculation policy | Where recalculation or republication is involved, CSI will promptly notify index clients; in complex cases CSI reserves discretion to recalculate the index or republish related data products. | 公司保留在复杂情况下自行决定重新计算指数或重新发布相关数据产品的权利。涉及指数重新计算或发布的情形，公司将及时向指数客户发布通知。From CSI The Primary Policy of Index Management ↗ |
If an index is recalculated or related data products are republished, CSI will promptly notify index clients, with the decision reserved to CSI in complex situations. |
| M10 Governance, change policy, disclosure · 13 fields | |||
| Confidentiality before public disclosure | No person, including CSI staff and expert committee members, may privately disclose information or accept media interviews before public disclosure. | 任何信息在公开披露之前，任何人包括中证指数公司工作人员和专家委员不得私自向外界公开，不得私自接受媒体采访。Open p.15 ↗ |
Before information is publicly disclosed, nobody, including CSI staff and expert committee members, may privately release it to outsiders or privately accept media interviews. |
| Official results control | Information released through the specified official CSI channels prevails. | 沪深300 指数信息以上述官方发布结果为准。Open p.16 ↗ |
CSI 300 Index information is based on the results published through the specified official channels. |
| Oversight body | CSI Index Expert Committee | 中证指数有限公司通过审视市场环境、听取指数专家委员会建议、接受市场反馈、外部投诉等途径，发现指数规则出现可能需要修订的情形时，需根据《中证指数有限公司指数规则修订实施办法》执行。Open p.15 ↗ |
The Index Expert Committee provides advice when CSI Index Co. identifies possible revisions to index rules. |
| Discretion points | Whether to continue index calculation during abnormal Shanghai or Shenzhen exchange market conditions | 当沪深证券交易所行情发生异常情况时，中证指数有限公司视情况决定是否继续计算指数。Open p.5 ↗ |
CSI Index Co. may exercise case-by-case discretion over whether to continue calculating the index during exchange market-data abnormalities. |
| Consultation procedure | Possible rule revisions are identified through market-environment review, Index Expert Committee advice, market feedback, and external complaints, and are handled under CSI Index Company's implementation rules for index-rule revisions. | 中证指数有限公司通过审视市场环境、听取指数专家委员会建议、接受市场反馈、外部投诉等途径，发现指数规则出现可能需要修订的情形时，需根据《中证指数有限公司指数规则修订实施办法》执行。Open p.15 ↗ |
CSI reviews market conditions, seeks advice from the Index Expert Committee, accepts market feedback and external complaints, and follows its internal index-rule revision implementation measures when revisions may be needed. |
| Notice period | Periodic review results: 2 weeks; Ad hoc adjustment plans: as early as possible; Major methodology changes: 3 months | 样本的定期审核结果一般提前两周公布；样本临时调整方案尽可能提前公布；指数编制和维护规则的重大变更一般提前三个月公布。Open p.16 ↗ |
Periodic review results are generally announced two weeks in advance, ad hoc constituent adjustment plans are announced as early as possible, and major index methodology changes are generally announced three months in advance. |
| Change announcement | China Securities Journal, Shanghai Securities News, Securities Times, Shanghai Stock Exchange website, Shenzhen Stock Exchange website, CSI Index Company official website, other designated media, CSI Index Express market-data system, Shanghai Stock Exchange Technology Company market-data release system, CSI Index Company data service platform | 信息披露的媒体包括但不限于中国证券报、上海证券报、证券时报、上海证券交易所和深圳证券交易所网站和中证指数有限公司官方网站及其他。Open p.15 ↗ |
Information is disclosed through designated securities newspapers, exchange websites, CSI's official website and other media, while index values are released through CSI Index Express, the SSE Technology market-data system, CSI's data platform, and CSI's website. |
| Constituents published | Bool: Yes; Frequency: periodic review results are published, generally two weeks in advance; ad hoc adjustment plans are published as early as possible | 样本的定期审核结果一般提前两周公布；样本临时调整方案尽可能提前公布；指数编制和维护规则的重大变更一般提前三个月公布。Open p.16 ↗ |
Constituent review results and ad hoc constituent adjustment plans are publicly disclosed, with periodic review results generally announced two weeks in advance. |
| Methodology review frequency | periodic internal review | 公司负责根据内部定期审阅、审视市场环境、听取指数专家委员会建议、接受市场反馈、外部投诉等途径对指数规则进行必要的修订。From CSI The Primary Policy of Index Management ↗ |
Index rules are revised based on periodic internal reviews, market developments, expert committee advice, market feedback, and complaints; the review interval is not specified. |
| External review | Material changes: Market opinions must be sought in advance; Category I indices: Public consultation is the principle; targeted consultation may be used with scope commensurate with the index's actual impact; Non Category I indices: Targeted consultation is the principle | 指数规则修订涉及的重大变更应事先征求市场意见。其中，一类指数1的重大变更原则上采用公开征求意见的形式，若采用定向方式的，征求范围应与指数的实际影响相适应；非一类指数的重大变更原则上采用定向征求意见的形式。From CSI The Primary Policy of Index Management ↗ |
Material rule changes require prior market consultation: Category I indices normally use public consultation, while non-Category I indices normally use targeted consultation. |
| Material change definition | Material changes are referenced as major changes to index rules, but the document does not define the criteria for materiality. | 指数规则修订涉及的重大变更应事先征求市场意见。From CSI The Primary Policy of Index Management ↗ |
The rulebook requires market consultation for material index-rule changes but does not state a definition or criteria for materiality. |
| Error correction policy | Error definition: A published index level deviates from the correct level; Causes: data errors, maintenance errors, software or hardware technical failures, other causes; Older than six months: generally not handled; Within six months factors: impact of the error, index-linked products, time until the next index adjustment, index investability and replicability; Complex cases: CSI reserves the right to decide whether to recalculate the index or republish related data products | 指数错误指已向市场发布的指数点位与正确点位发生偏离。引起指数错误的原因包括但不限于：数据错误、维护错误、软硬件技术故障等。公司经过审慎评估，可能对指数错误进行修正，并遵循以下原则：如指数错误发现时距离发生已超过六个月，一般不予处理。From CSI The Primary Policy of Index Management ↗ |
Errors are deviations between published and correct levels; errors older than six months are generally not addressed, while newer errors are assessed by impact, linked products, timing, investability, and replicability, and complex cases may be recalculated or republished at CSI's discretion. |
| Cessation policy | After prudent evaluation, CSI may terminate an index, meaning cessation of calculation, maintenance, and external publication; factors outside CSI's control may, in extreme cases, lead to termination. | 公司经过审慎评估后，可能会进行指数终止的操作，即终止指数的计算、维护和对外发布。From CSI The Primary Policy of Index Management ↗ |
An index may be terminated after prudent evaluation, stopping its calculation, maintenance, and external publication; extreme market, data, liquidity, environmental, or geopolitical factors may also result in termination. |
Open points · 39Model-written, for reference
- 1ISIN is not stated.
- 2Bloomberg, Refinitiv, Wind, or other third-party data-vendor tickers are not stated.
- 3Calculation agent is not separately identified from the administrator.
- 4Index family or parent index is not stated.
- 5Calculation currency is not stated.
- 6Methodology version and methodology date are not stated.
- 7Benchmark regulatory status is not stated.
- 8Stated intended uses such as ETF or derivatives benchmarking are not provided in the sections.
- 9Factor exposures and stated limitations are not provided in the sections.
- 10Exchanges are not separately named, although the Shanghai and Shenzhen markets are identified.
- 11The nationality rule for companies is not stated beyond inclusion of red-chip enterprise depositary receipts.
- 12A parent universe index is not stated.
- 13Detailed liquidity metric, measurement window, and threshold are not stated beyond the description that constituents are highly liquid.
- 14Minimum free-float percentage is not stated.
- 15Minimum foreign room or foreign ownership treatment is not stated.
- 16Minimum voting rights are not stated.
- 17Minimum share price screen is not stated.
- 18Business or ESG exclusions are not stated.
- 19Extreme price increase screen is not stated.
- 20No tie-breaking rule for securities with identical turnover or market-capitalization rankings is stated.
- 21No industry or sector neutrality rule in constituent selection is stated.
- 22No domestic inclusion factor separate from the free-float banding is stated.
- 23No foreign ownership limit or foreign-room treatment is stated.
- 24No single-constituent, group, sector, or country weight cap is stated.
- 25No cap application timing is stated.
- 26No divisor adjustment rule is stated.
- 27The document does not specify a separate rebalancing frequency for weights apart from semi-annual constituent reviews.
- 28The document does not specify how often capped weights or factor weights are reset.
- 29The document does not provide size-segment buffer bands for large-, mid- or small-cap reviews.
- 30The document does not state the price used to calculate removal of an ad hoc deleted constituent.
- 31The document does not name a separate corporate-actions guide.
- 32The document does not specify the announcement channel or exact announcement timing for regular semi-annual review results.
- 33The suspension rule gives discretion based on suspension reason but does not define a minimum prolonged suspension period.
- 34Recalculation policy: no policy for correcting or restating published index levels is stated.
- 35Methodology review frequency: no fixed frequency for reviewing the methodology is stated.
- 36External review: no formal external review requirement is stated beyond receiving market feedback and external complaints.
- 37Material change definition: the document refers to major changes but does not define what constitutes a material change.
- 38Error correction policy: no error correction or restatement policy is stated.
- 39Cessation policy: no policy for discontinuing the index is stated.
Read by a language model (doubao-seed-2.1-pro) on 2026-10-03 · prompt 1.2 · schema 1 · 83 of 84 quotes found word for word in the PDF · includes general rules: Calculation Rules for Equity Indices v1.1, Constituent Adjustment Rules for Equity Indices v1.2, The Primary Policy of Index Management v3.0
This profile was written by a language model from the provider's text and may be wrong; the provider's document prevails.
Pick a file to view it here.
First edition on record; nothing to compare yet.
No change records for this index yet.