China Portfolio Rebalance

china-portfolio-rebalance

Purpose

Perform A股投资组合再平衡 — analyze allocation drift, generate rebalancing recommendations, and optimize trade execution.

Data Sources

Primary: iFind MCP (Tier-1 付费) / AkShare MCP (Tier-2 免费备选)

get_quote(ticker)                     → Current prices for holdings
get_historical_data(ticker)           → Tax lot / cost basis context

Secondary Sources

• Portfolio management system
• Wind / Choice — market data
• Tax rules — A-share tax treatment

Workflow

Step 1: Current Allocation

Portfolio snapshot:

| Asset Class | Target % | Current % | Drift | Market Value | Action | |-------------|----------|-----------|-------|--------------|--------| | | | | | | |

Within A-share equity:

| Sector | Target | Current | Drift | Action | |--------|--------|---------|-------|--------| | 消费 | XX% | XX% | ±X% | Buy/Sell/Hold | | 科技 | XX% | XX% | ±X% | Buy/Sell/Hold | | 医药 | XX% | XX% | ±X% | Buy/Sell/Hold | | 金融 | XX% | XX% | ±X% | Buy/Sell/Hold | | 新能源 | XX% | XX% | ±X% | Buy/Sell/Hold | | 其他 | XX% | XX% | ±X% | Buy/Sell/Hold |

Step 2: Identify Drift

Drift thresholds:

| Drift Level | Action | |-------------|--------| | ±2% | Monitor, no action | | ±3-5% | Consider rebalancing | | ±5%+ | Rebalance recommended |

Drift causes:

• Market price movements
• Dividend reinvestment
• Previous trades
• Cash flows (contributions/withdrawals)

Step 3: Generate Rebalancing Trades

Rebalancing logic:

| Situation | Action | |-----------|--------| | Sector overweight + price up | Trim position | | Sector underweight + price down | Add to position | | Overweight + price down | Monitor (may converge) | | Underweight + price up | Monitor (may converge) |

Trade list:

| Action | Ticker | Security | Current % | Target % | Trade Amount | Est. Shares | |--------|--------|----------|-----------|----------|-------------|------------| | Buy | | | | | | | | Sell | | | | | | | | Hold | | | | | | |

Step 4: Tax Considerations

A-share tax treatment:

| Item | Tax Rate | Notes | |------|----------|-------| | 股票买卖价差 | 暂免 (temporarily exempt) | Capital gains on stocks | | 股息红利 | 20% (持股>1年减半/免征) | Dividend tax | | 基金分红 | 暂免 (some funds) | Fund distributions | | 买卖印花税 | 0.05% (seller only) | Stamp duty |

Tax-loss harvesting opportunities:

| Position | Cost Basis | Current Value | Unrealized Loss | Tax Benefit | |----------|-----------|--------------|-----------------|-------------| | | | | | |

Tax-efficient selling:

• Prioritize selling positions with losses
• Consider holding period for dividend tax
• Batch sales to minimize stamp duty impact

Step 5: Execution Plan

Trade sequencing:

| Priority | Trade | Rationale | |----------|-------|-----------| | 1 | | Tax loss harvesting | | 2 | | Largest drift correction | | 3 | | Smaller adjustments |

Execution considerations:

• Market impact (liquidity)
• Trading costs (commissions, stamp duty)
• Market timing (volatility)
• Block trading for large positions

Step 6: Rebalancing Report

Standard rebalancing report:

【组合再平衡报告】[Client] [Date]

一、当前配置 vs 目标配置
   [Allocation table with drift]

二、再平衡建议
   [Trade list]

三、税务影响
   [Tax implications]

四、执行计划
   [Sequencing and timing]

五、预期效果
   [Projected post-rebalance allocation]

China-Specific Rebalancing Considerations

A-share Market Characteristics

| Factor | Rebalancing Implication | |--------|------------------------| | 涨跌停限制 | May prevent immediate rebalancing | | T+1 settlement | Trade settlement timeline | | 印花税 | 0.05% on sell side | | 佣金 | Varies by broker (typically 0.02-0.03%) | | 最低手续费 | Minimum commission threshold |

Tax-Loss Harvesting (A-share)

China-specific TLH:

• Capital gains on stocks: currently tax-exempt (暂免)
• Losses: can offset gains within the same asset class
• 股息红利 tax: 20%, reduced to 10% for >1 year holding, 0% for >1 year (recent changes)
• Fund distributions: tax treatment varies by fund type

Common Rebalancing Triggers

| Trigger | Frequency | Action | |---------|-----------|--------| | Calendar rebalancing | Quarterly/Semi-annual | Systematic rebalance | | Drift threshold | When ±5% | Opportunistic rebalance | | Cash inflow | As received | Deploy to underweights | | Client request | Ad-hoc | Targeted rebalance | | Tax planning | Year-end | Harvest losses, reset cost basis |

Quality Checks

Before executing:

• [ ] Allocations calculated correctly
• [ ] Trades aligned with policy
• [ ] Tax implications assessed
• [ ] Trading costs estimated
• [ ] Client approval obtained
• [ ] Execution plan sequenced

After rebalancing:

• [ ] Trades confirmed
• [ ] Allocation updated
• [ ] Tax lots recorded
• [ ] Client notified

> Data Source Mode Switch: Set env var IFIND_DATA_SOURCE_MODE to control data source preference. > - ifind-only (strict): Use iFind only, error if unavailable > - ifind-fallback (default): iFind preferred, fallback to AkShare > - akshare-only: Skip iFind, use AkShare only

Source & license

This open-source skill is cataloged on AgentStack and links to its original source — we do not rehost the code.

• Author: eitazhou10
• Source: eitazhou10/opencode-for-financial-services-cn
• License: Apache-2.0

Install and usage instructions live in the source repository linked above.