久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

Global EditionASIA 中文雙語Fran?ais
Opinion
Home / Opinion / From the Press

Shanghai-Deutsche Stock Connect to boost China's financial market open-up

CGTN | Updated: 2019-11-25 09:41
Share
Share - WeChat
Shanghai Stock Exchange, Shanghai, China. /VCG Photo

Editor's note: Matteo Giovannini is a finance professional at ICBC in Beijing and a member of the China Task Force at the Italian Ministry of Economic Development. The article reflects the author's opinions, and not necessarily the views of CGTN.

As an old saying goes, Rome wasn't built in a day. This must be very clear to Chinese leaders who are broadly known for having long-term strategies towards their major goals. This is not an exception regarding the financial industry where China has made enormous improvements in less than a decade and is still developing at full steam.

This week the news of an upcoming stock connect between Shanghai and Frankfurt hitting the headlines of major news media has created enthusiasm in the global financial community. It is not so unexpected since news about a possible deal started to circulate in January of this year and would recognize the importance of Germany as China's leading EU trading partner in terms of export sales.

This project is part of China's strategy to develop a more interconnected capital market on both equity and debt sides to be realized through stock connect and bond connect programs. The process has been developed into two phases: First, the Chinese mainland connects its huge market to Hong Kong; then through a bridge built in between, China starts to connect the mainland market to financial centers overseas.

The stock connect program started in 2014 with a pilot project connecting Shanghai, where all big state owned enterprises and large-cap companies are listed, with Hong Kong. In 2016, a second stock connect was realized this time between Shenzhen and Hong Kong.

In 2017, the bond connect program marked another milestone of mutual access of capital markets between the Chinese mainland and Hong Kong enabling overseas investors to access China's domestic interbank bond market through a connection between the domestic and overseas bond markets.

The launch this year of the Shanghai-London Stock Connect (SLSC) has represented a breakthrough because it has allowed the connection of two stock exchanges located in different continents and time zones and for the first time that the non-Chinese companies could get direct exposure to China's domestic capital market.

At the same time, the SLSC has helped China enter Western financial markets. The London Stock Exchange is one of the oldest exchanges in the world and it is also the primary stock exchange in the UK and the largest in Europe.

The project of a Shanghai-Frankfurt Stock Connect to be launched in 2020 will cover the second largest European capital market, the Frankfurt Stock Exchange which is operated by Deutsche Borse AG. The China Europe International Exchange (CEINEX), created in November 2015 by Shanghai Stock Exchange, Deutsche Borse Group and the China Financial Futures Exchange, is currently in charge of setting up a new stock connect program that will link the capital markets in Shanghai and in Frankfurt, Germany's financial hub and European Central Bank's venue.

The exact date to launch this project has not been released but researches have found that a lot of high-quality listed firms have shown their strong interests in this program. What is certain by now is that the program will give a huge boost on the opening-up of Chinese financial market in terms of direct access to the capital markets of the two biggest European Stock Exchanges.

Once the Shanghai-Deutsche Stock Connect is completed, China is expected to be further integrated in global financial system, and the role of Shanghai as a global financial hub will also be elevated, enabling Shanghai to compete with the world's top two financial hubs, New York, and London.

According to the 25th edition of the Global Financial Centers Index (GFCI 25) compiled by the China Development Institute and Z/Yen Partners, Shanghai is now at the fifth spot among world's financial hubs. Shanghai is only preceded by New York, London, Hong Kong, and Singapore climbing from the 24th position when the ranking was first published in 2007.

Shanghai, which has recently surpassed Tokyo, is predicted to pass very soon Singapore, and it is not hard to imagine Shanghai as the world's second financial center in direct competition with New York.

Most Viewed in 24 Hours
Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 日韩综合色 | 国产日韩欧美swag在线观看 | 欧洲freexxxx性| 亚洲免费三级 | 日本农村寡妇一级毛片 | 国产图片亚洲精品一区 | 毛片免费在线播放 | japanese日本tube色系| 欧美日韩精品一区二区三区不卡 | 日韩欧美印度一级毛片 | 91高清国产经典在线观看 | 国内自拍tv在线 | 亚州免费一级毛片 | 国产成人毛片视频不卡在线 | 成在线人永久免费播放视频 | 日本高清视频一区二区 | 成人第一页 | 日韩美视频网站 | 97久久草草超级碰碰碰 | 欧美老头老太做爰xxxx | 午夜在线观看cao | 亚洲 [12p] | 欧美日韩免费播放一区二区 | 国产蜜汁tv福利在线 | 黄www片| 一个人看的免费观看日本视频www | 国产精品久久国产三级国电话系列 | 岛国在线永久免费视频 | 国产一级一国产一级毛片 | 久久青草免费线观最新 | 92精品国产自产在线观看 | 丝袜紧身裙国产在线播放 | 日本成人免费在线视频 | 性久久久久久久久久 | 成年女人看片免费视频播放器 | 久草资源在线播放 | 国产在线播放不卡 | 欧美一级成人毛片影院 | 亚洲精品久久久久综合中文字幕 | 国产视频二区 | 中国一级毛片在线观看 |