H股

注：本表不包括重庆钢铁和庆铃汽车两家仅发h股的公司。

Note : Two listed companies of Chongqing Steel and Qingling Motor , which issue H share only are not included in this tables .

考虑到中国a股市场的流动性，您认为a股市场相对于h股市场的溢价合理吗？

Do you think the premium a share market is enjoying now compared with H share market is reasonable considering the liquidity in a share market ?

衡量a股对h股平均溢价水平的恒生ah股溢价指数（hangsengchinaahpremiumindex），一直以来都出了名的波动。

The average premium of a shares over H shares , as measured by the Hang Seng China ah premium index , is notoriously volatile .

恒生ah股溢价指数在2008年1月达到208的高点，意味着当时a股平均比h股贵一倍。

The Hang Seng China ah premium index reached a high of 208 in January 2008 , with a shares more than double the price of H shares at the time .

批准更多的qdii额度，应该会加大市场流动性，有助于缩减a股与h股间的估值差距。

The approval of more QDII quotas should drive market liquidity and help reduce the valuation gap between a and H shares .

在瑞银（ubs）带领下进行全球路演后，民生银行h股将于本周四进行定价，其参考价为8.50-9.50港元。

Minsheng H-shares will be priced on Thursday this week , following a global roadshow led by UBS , within the indicative range of HK $ 8.50-hk $ 9.50 .

预计在港上市的所谓“h股”公司将是qdii机制的最大受益者，因为内地基金管理公司对它们已经很熟悉。

So-called " H-share " companies listed in Hong Kong are expected to be the biggest beneficiaries of the QDII scheme because they are already familiar to mainland fund managers .

alphashares好不容易喝完了整碗的“字母汤”即创建纳入h股（香港上市股票）和精选的一批在美上市的中国企业的指数。

Alphashares waded through a whole alphabet soup , in fact , to build an index including H shares ( listed in Hong Kong ) and selected Chinese companies listed in the US .

但是，随着h股的价格优势消失，a股再度领先。

But having let H-shares close the gap , A-shares powered ahead again .

分析师指出，h股之所以表现更佳，有多种原因。

There are a number of reasons why H shares have outperformed , said analysts .

此外，尽管经济数据持续恶化，h股一直表现得较为抗跌。

The H shares have also been relatively resilient in spite of worsening economic data .

追踪在港上市中国内地企业股价的h股指数今年则大涨47%。

The H shares of mainland Chinese companies traded in Hong Kong have risen 47 per cent .

h股看上去“非常便宜”，预测市盈率（价格与预期收益率之比）仅为9到10倍。

H-shares , which trade at just 9 to 10 times forward earnings , look " very cheap " .

中国企业指数（即h股指数）涨幅也有回落，以2.9%的涨幅收盘。

China enterprise stocks , or H shares , also trimmed early gains to close 2.9 per cent higher .

波顿麦基尔：我认为，中国a股市场相对于h股市场的溢价是不合理的。

Burton Malkiel : I do not think the premium in the A-share market over the H-share market is justified .

恒生中国企业指数（即h股指数）重挫5.2%，创15个月来最大单日跌幅。

China enterprise stocks , or H shares , tumbled 5.2 per cent , the biggest one-day decline for 15 months .

而在h股市场上市的中国公司不足200家，且都集中在能源、电信和金融服务行业。

The H-share market , meanwhile , has fewer than 200 issues , concentrated in energy , telecoms and financial services .

在境内可以买h股吗？目前国家会对股市进行宏观调控吗？

Can be h bought in churchyard ? Can at present the country have macroscopical adjusting control to the stock market ?

分析师预计，当内地投资者开始卖空股票时，a股和h股之间的价差将面临更大的收窄压力。

The gap between a and H shares will face greater pressure to narrow when mainlanders start shorting shares , analysts predict .

这反映出投资者的预期：如果a股与h股能实现真正的套利，h股就会上涨，而a股则会下跌，直至达到平衡。

This reflected investor expectations that if real arbitrage were possible , H-shares would rise and A-shares fall until they reached equilibrium .

交易员指出，h股和上海a股之间的溢价已经缩小到近3年来的最低水平。

Traders noted that the premium between H shares and Shanghai A shares had narrowed to the lowest level for nearly three years .

人们预计，中国内地散户投资者一旦进入香港市场，将推高h股价格。

The expectation is that once they are unleashed on the Hong Kong market , retail Chinese investors will chase H-share prices higher .

由于对上述计划的预期，过去3个月，在港上市的内地股票（h股）飙升了40%。

Hong Kong-listed China stocks , or H-shares , have surged 40 per cent in the past three months in expectation of the scheme .

它们在h股（总部位于中国、但在香港上市的企业）领域的表现要出色得多。

They have done much better with what are known as H shares : companies that are based in China but listed in Hong Kong .

香港有100多只h股公司，比如那些市值和存款额在全球名列前茅的中国各大银行。

There are more than 100 h shares , such as those of the Chinese banks that dominate global industry rankings by market capitalisation and deposits .

根据摩根大通的数据，中国内地a股价位相比h股价位存在47%的溢价，这在一定程度上反映了上述不同。

Partly reflecting this difference , Chinese mainland a shares trade at a 47 per cent premium to the H shares , according to JPMorgan figures .

如果以低三分之一的价格买入h股，投资者可以获得相同的经济利益，那么他或她为何还想买a股？

Why would an investor want to buy an A-share when he or she could get the same economic benefits from buying an H share a third cheaper ?

但李晶指出，同时在两地上市的公司a股和h股之间的价差已大幅缩小。

But Ms Ulrich notes that the gap between the Shanghai " a " shares and Hong Kong " H " shares of dual-listed companies has narrowed considerably .

中国股市昨日遭受5周以来最大单日跌幅，原因是a股与h股之间可能允许套利的前景，令投资者惊怕。

Chinese stocks suffered their worst fall for five weeks yesterday as investors took fright at the prospect of arbitrage between mainland-listed A shares and Hong Kong-listed H shares .

评估投资者对新兴市场的偏好难度较大，但中国内地股票相对于在香港上市、其它方面完全一样的h股的溢价，是一个有用的指标。

Assessing the appetite for emerging markets is harder but a useful indicator is the premium of domestic Chinese shares over otherwise identical H shares listed in Hong Kong .