CBBC is a leveraged investment products, Investors cam use relatively small funds to invest the underlying asset.

CBBC has the expiration date, the exercise price and redemption price when it issue, if the underlying asset price has been reached, it will mandatory recycling by the issuer.

CBBC can be divided into: Bull / Bear
If you foresee asset price raise, you can invest in Bull CBBC;
If you foresee asset price will drop, you can invest in Bear CBBC.

CBBC divided into two categories based on the remaining value:
No surplus value (referred to as Category N)
There may be residual value (called class R), now are all listed CBBC class R