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不要对沪港通过分解读和预期,谨防只关注有利因素,而忽视市场制度建设和投资风格与国际接轨的艰巨性,陷入“盲人摸象”的困境。自4月10日中国证监会与香港证券及期货事务监管委员会发布联合公告开展沪港通以来,A股市场关于沪港通的概念炒作以及对外围资金入市的期待就从未停歇。沪港通是否能如乐观者那样对A股蓝筹股产生巨大影响?或者如“淡定派”认为的,AH两地市场制度、投资者机构和风格迥异,沪港通对市场的影响只若清风拂面?笔者认为,A股在全球金融市场中虽然相对封闭,但是估值系统
Do not look at Shanghai-Hong Kong through read-down and anticipation, beware of focusing only on favorable factors, while ignoring the arduousness of the market system construction and investment style with international standards, falling into the predicament of “blind touch ”. Since April 10 China Securities Regulatory Commission and Hong Kong Securities and Futures Commission issued a joint announcement to carry out the Shanghai-Hong Kong Stock Connect, the A-share market speculation on the Shanghai-Hong Kong Stock Connect and the expectation of market entry of peripheral funds never stopped. Does Shanghai-Hong Kong Stock Connect have a huge impact on A-share blue chip stocks as optimists? Or, as the “calm” thinking, AH’s market system, investor institutions and styles are very different, and Shanghai-Hong Kong Stock Connect affects the market only if Breeze blowing? I believe that A shares in the global financial markets, although relatively closed, but the valuation system