日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

US EUROPE AFRICA ASIA 中文
Business / Markets

Bourse link plan to boost capital inflows

By WEI TIAN (China Daily) Updated: 2014-08-28 08:26

Linking the stock exchanges of Shanghai and Hong Kong will boost foreign capital in those markets and give them more say in the pricing of Chinese equities, an analyst said.

Bourse link plan to boost capital inflows
Shanghai-HK link set to boost arbitrage gains for investors
Bourse link plan to boost capital inflows
Through train for equities to lift capital market sentiment
Chen Li, chief China equity strategist with UBS Securities, said in a conference call on Wednesday that over the long term, foreign capital will account for nearly 10 percent of the free-float market capitalization of China's A-share market.

This would be one result of Shanghai-Hong Kong Stock Connect, a pilot program designed to allow mutual stock market access for investors on the Chinese mainland and Hong Kong.

The program was first announced in April and is expected to be officially launched in October. Initial rules regulated that trading will be allowed for only 568 stocks in Shanghai with an upper limit of 300 billion yuan ($48.8 billion).

At present, institutional investors outside the Chinese mainland can invest on the Shanghai and Shenzhen bourses only via the Qualified Foreign Institutional Investors program and the RMB Qualified Foreign Institutional Investors program.

According to UBS' estimate, foreign investors currently hold a total of 347 billion yuan in the A-share market. According to financial data provider Wind Information, the free-float value of the A-share market is approximately 10 trillion yuan.

"If the Shanghai-Hong Kong Stock Connect program goes well, and the domestic market heats up, the 300 billion yuan quota will run out within two years, and QFII, RQFII utilization will go up," Chen said. "In total, foreign investors could theoretically hold up to 900 billion yuan in China's stock market."

If the experience of Japan and South Korea in opening their stock market is any guide, foreign capital would mainly focus on blue chip stocks, Chen said, adding that the foreign investors could account for 25 to 30 percent of the market value of a single stock.

"In that case, they will undoubtedly have some pricing rights on the stock price, and the trading of these shares will be more active and linked more closely to the global market," he said.

Although Shanghai-Hong Kong Stock Connect provides more transparency and flexibility than QFII and RQFII, Chen said it will never completely replace those programs.

There are still technical restrictions in Shanghai—Hong Kong Stock Connect, including the two places' differing trading times, the uncertainty in levying capital gains tax and the risks of fluctuation in the exchange rate between onshore and offshore renminbi, he said.

Hot Topics

Editor's Picks
...
...
主站蜘蛛池模板: 亚洲黄色在线免费观看 | 日韩在线 | 伊人久久久久久久久久 | 国产精品久久久网站 | 香蕉福利视频 | 亚洲黄色av网站 | 在线观看亚洲成人 | 欧美激情国产精品免费 | 亚洲天堂视频一区 | 亚色网站 | 一级特黄特色的免费大片视频 | 91精品久久香蕉国产线看观看 | 久久久精品福利 | 97久久久久久 | 成人在线观看免费 | 午夜看片在线 | 中文一区二区在线观看 | 中文字幕视频网站 | 校园春色综合网 | 欧美在线激情视频 | 日韩一区二区在线免费观看 | 国产成人8x视频一区二区 | 国产精品久久久久9999 | 六月综合激情 | 日韩黄毛片 | 国产小视频91 | 日韩欧美国产一区二区三区 | 天天天天天天天操 | 亚洲精品久久久久avwww潮水 | 国产香蕉97碰碰碰视频在线观看 | 一级二级黄色片 | 色窝| 亚洲欧美日韩动漫 | 可以直接看的毛片 | 亚洲国产伦理 | 中文字幕23| 日本www色| 久久99精品久久久久 | 九九九在线 | 黄色大片免费在线观看 | 超碰久草 |