论文部分内容阅读
对监管而言,沪港通最大收获不在于有多少境外资金流入A股,而在于对A股市场开放制度建设方面试验出一些经验。本文从外资对A股市场需求入手,分析沪港通开通后未来中国资本市场的开放格局。令全球资本市场广泛关注的上海与香港股票市场交易互联互通机制(沪港通)于2014年11月17日高调推出,两地监管部门对此寄予厚望。正如中国证监会主席肖钢在沪港通开通仪式上致辞所说,沪港通“是推进两地资本市场双向开放的重大举措,是资本市场的一项重大制度创新”。
For regulatory purposes, the biggest gain in Shanghai-Hong Kong Stock Connect is not how much foreign capital flows into A shares, but rather some test experience in the construction of the A-share market liberalization system. This article starts with the demand of foreign capital for A-share market and analyzes the opening pattern of future Chinese capital market after the opening of Shanghai-Hong Kong Stock Connect. The Shanghai-Hong Kong Stock Exchange interconnection mechanism (Shanghai-Hong Kong Stock Connect), which attracted widespread attention in global capital markets, was launched on November 17, 2014 with a high profile. The regulatory authorities in both places have high hopes for this. As Chairman Xiao Gang of the China Securities Regulatory Commission made a speech at the opening ceremony of the Shanghai-Hong Kong Stock Connect, the Shanghai-Hong Kong Stock Connect is a major move to promote the two-way opening up of the capital markets in both regions and a major institutional innovation in the capital market.