内地与香港股票市场互动:必要性与途径研究

• 作 者: 李悦 应展宇
• 机 构: 中国人民大学财政金融学院,中央财经大学金融学院 2002级博士研究生rrrrrrrrn,讲师经济学博士
• 出 处: 亚太经济
• 发表日期: 2005年03期
• 关键词: 内地 香港 股票市场 互动

本文首先分析了内地与香港股票市场互动的必要性。一方面是全球主要交易所整合带来的巨大外部冲击与竞争,另一方面是两地市场的优势和缺陷互补,有通过互动提升彼此竞争力的内在需求。在此基础上,本文从三个方面具体分析了内地与香港股票市场实现互动的途径:机构层面的互动、交易所层面的互动、资金和工具层面的互动。

This paper first analyzes the necessity of the interaction between the mainland and Hong Kong stock markets. On the one hand, it is a huge external shock and competition brought by the integration of the major exchanges in the world. On the other hand, the advantages and disadvantages of the two markets complement each other and there is an inherent demand for mutual competitiveness through interaction. On this basis, the article analyzes in detail the ways of interaction between the Mainland and Hong Kong stock markets from three aspects: the interaction at the institutional level, the interaction at the exchange level, and the interaction between capital and instruments.