The Logic Behind The Speed Increase Of Shenzhen And Hong Kong Through Shanghai And Shanghai

In November 17, 2014, the Shanghai and Hong Kong through the great concern of the market was officially opened to traffic.

Taking this opportunity, the A share market's financing business was activated at that time, and then the stock market rose rapidly.

But since then, the discount premium rate between AH shares has changed greatly, and today, A shares still have more than 30% premium rate than H-shares.

With the opening of Shanghai, Hong Kong, Shenzhen, Hong Kong and Shanghai, it will give an impact on the A share market, or will further enhance the international influence of the A share market. It will also speed up the process of RMB internationalization and remove obstacles for the future expansion of the A share market.

This shows that although Shanghai and Hong Kong have achieved "interconnection and interconnection" for some time, the effect of "interconnection and interconnection" is still not too significant. In the future, the launch of Shenzhen Hong Kong Tong and Shanghai Unicom will need to further repair potential vulnerabilities of Shanghai and Hong Kong through "opening up", so as to achieve the best effect of "interconnection and interconnection".

Some time ago, there was a public statement made by the central high level to Shenzhen Hong Kong Tong, after which Fang Xinghai's position on Shenzhen Hong Kong Tong launched.

According to the current progress, there are basically no technical problems at present, and the probability of "opening to traffic" is considerable.

However, it is worth mentioning that under the background of the increasingly intense "opening up" of Shenzhen Hong Kong port, Shanghai stock market has gradually become the focus of market attention.

During the period, more news pointed out that the Shanghai link would be announced in September.

Following the opening of Shanghai and Hong Kong, the accelerated launch of Shenzhen Hong Kong Tong and Shanghai link will further enhance the effect of "interconnection and interconnection", which will have a profound impact on the A share market.

However, in addition, the author thinks that the speed up of "opening to traffic" of Shenzhen Hong Kong Tong and Shanghai Tong Tong still has some special significance.

First of all, the opening of Shenzhen Hong Kong Tong and Shanghai Tong Tong will actively learn from the experience and lessons of Shanghai and Hong Kong before opening up, and on this basis, we will play a better role in "interconnection and interconnection".

Moreover, compared with the Shanghai and Hong Kong Exchanges, Shenzhen Hong Kong and Shanghai Unicom will be able to give full play to the local geographical advantages and accelerate the realization of the "interconnection and interconnection" target of many markets with the special geographical strategic conditions of the locality.

Meanwhile, along with

The "opening up" of Shenzhen Hong Kong Tong and Shanghai Tong Tong will give the A share market a profound impact, or will further enhance the international influence of the A share market, and speed up the process of boosting RMB internationalization. This will remove obstacles to the expansion of the A share market in the future.

In addition, we need to pay attention to whether the A share market has been included in the MSCI index for nearly a year.

However, for many times before the A shares failed to be included

The reasons are still more or less related to factors such as market openness, tax regulations, stock market policies and market liquidity.

In this regard, behind the promotion of Shenzhen Hong Kong Tong and Shanghai Unicom, in fact, it also adds more weight to the A share market in MSCI.

At the same time, in the past year, the A share market has also completed a lot of preparatory work, and the related problems have also been solved to a certain extent, which has a significant effect on the A share market's MSCI probability.

However, the process of promoting Hong Kong through Shenzhen and Hong Kong and Shanghai links is not smooth.

Obviously, before achieving relevant goals, the market still needs to complete a large number of supporting work to ensure follow-up.

"The successful completion of the mission.

Several key problems remain to be solved.

First, the paction time and trading system between two or more markets need to be further improved and corrected, so as to reduce the arbitrage space of speculative capital.

Second, the relevant laws and regulations need to pave the way for the "interconnection and interconnection" of many markets, and create a sound legal system basis.

At the same time, in the realization of "interconnection and interconnection" mode, we need to further enhance the illegal cost of the A share market and create the rule of law environment in the A share market.

Third, because the foundation of A share market internationalization is not too strong, and the goal of "interconnection and interconnection" in many markets needs to be a complicated and lengthy process.

Therefore, before this, we need to improve the supporting work and make more adequate preparations.

In addition, for the A share market, the market sentiment of the stock market fluctuating and institutional investors are more speculative than ordinary investors needs to be corrected.

Obviously, whether it is the "opening up" incident of Shenzhen Hong Kong Tong and Shanghai Tong Tong, or the future A share market incorporated into the MSCI index, it needs the A share market to create a sustained and stable market environment, so that funds can be reassured to invest and bring a steady stream of new liquidity to the stock market.