沪港通

就在两家公司合并计划最终敲定前夕，沪港通（Shanghai-HongKongStockConnect）机制启动，股价因此被推上新高。

It was spurred to new heights by the launch of the Shanghai-Hong Kong Stock Connect scheme just as the two companies ' merger plans were finalised .

周三早盘期间，沪港通（Shanghai-HongKongStockConnect）南向成交量超过了150亿港元（合19亿美元），是此前单日记录的两倍以上。

During the morning session on Wednesday , southbound turnover through the Shanghai-Hong Kong Stock Connect rose past HK $ 15bn ( US $ 1.9bn ), more than double the previous daily record .

即使在沪港通启动之前，对QFII的需求似乎就不温不火。

Even before the stock connect launched , demand for QFII appeared tepid .

其次，要改善每日流动性的获得渠道。比如，可以放宽对沪港通（Shanghai-HongKongStockConnect）的现有流量限制。

Second , access to daily liquidity needs to be improved , such as by lifting the existing limits on traffic through the Shanghai-Hong Kong Stock Connect .

沪港通（HongKong-ShanghaiStockConnect）定于下月开通，使香港和上海股市的投资者能够直接交易对方股市的股票。

The Hong Kong-Shanghai Stock Connect is due to go live next month , allowing investors in each market to trade shares directly in the other .

再加上近年来启动的“沪港通”（Shanghai-HongKongStockConnect），这些都促进了中国与世界其他地区的联系，包括直接联系以及通过香港的间接联系。

and the recently implemented Shanghai-Hong Kong Stock Connect are all bolstering ties between China and the rest of the world , both directly and through Hong Kong .

港交所（HKEx）行政总裁李小加（CharlesLi）的说法给有关沪港通启动在即的看法泼了冷水，他上周表示，目前没有确定的时间表。

Charles Li , chief executive of Hong Kong Exchanges Clearing , has played down the idea that a launch is imminent , saying last week there is no set timetable .

香港交易所（HongKongStockExchange）一直致力于解决国际基金公司提出的问题，后者担忧通过沪港通持有的投资的法律地位以及交易周期内不同时点所购股份的所有权问题。

The Hong Kong Stock Exchange has been working frantically to address problems raised by international fund managers , who have had concerns over the legal status of investments held through Stock Connect and their ownership of those shares at various points during the trading cycle .

率先由路透（Reuters）报道出来的这封信接着说，如果提前不到两个星期通知，很可能意味着投资者对沪港通启动的参与度将是有限的。

The letter , first reported by Reuters , goes on to say that anything less than two weeks ' warning could well mean that participation in the stock connect launch will be limited .

沪港通还为投资者提供了他们在其他地方可以获得的那种几乎匿名的投资渠道。这一点与QFII不同，获准QFII资格意味着投资者会为外界所知，交易决策也会被追踪。

The Stock Connect also offers investors the sort of virtually anonymous access to China they get elsewhere & unlike QFII , where approvals mean investors are known and their trading decisions tracked .

沪港通让一些富裕的散户投资者能够买卖香港上市的股票，受到严格控制的合格境内机构投资者（QDII）项目则为金融机构提供了一条购买海外债券和证券的渠道。

The Shanghai-Hong Kong Stock Connect has provided some rich retail investors access to Hong Kong-listed shares , while the tightly controlled qualified domestic institutional investor programme gives financial institutions an avenue to purchase overseas bonds and securities .

野村证券的分析师表示，有了沪港通（Shanghai-HKConnect）和中港基金互认，境内外的个人和机构如今在进行跨境金融市场投资时，有了更多的渠道和更大的配额。

With the Shanghai-HK Connect , and this Mutual Fund Connect , onshore and offshore individuals and institutions now have more channels and greater quotas to make cross-border financial market investments , said analysts at the Japanese bank .

尽管瑞银（UBS）和高盛（GoldmanSachs）等投行长期运营提供中英文研究的合资项目，但去年末开通的“沪港通”促使其它许多机构重新思考其覆盖亚洲第二大股票市场的方式。

Although some investment banks - such as UBS and Goldman Sachs - have long operated joint-ventures that produce both Chinese and English-language research , the opening late last year of the Shanghai-Hong Kong Stock Connect has prompted many others to rethink the way they cover Asia 's second largest stock market .

沪港通也让许多中国投资者第一次能够直接买入港交所上市股票。

Stock Connect also gave many Chinese investors access to Hong Kong stocks for the first time .

沪港通的规定中说大陆投资者的投资资金至少要达到50万元。

The regulations for the Hu-GangTong say mainland investors must have at least 500000 yuan to join the program .

此前人们预计“沪港通”在10月底推出，但北京方面到现在仍未开绿灯。

The scheme was expected to launch in late October but has still not been given the green light from Beijing .

但上海证交所的一名官员曾在今年1月表示，监管机构正考虑向沪港通参与者开放期货市场。

But a Shanghai stock exchange official said in January that regulators were considering opening up the futures market to connect participants .

人们的假设是，如果沪港通取得成功，最初的额度可能被拓宽，更多的交易所可能加入。

The assumption is that should the Stock Connect be a success , the initial quotas could be widened and more exchanges added .

这笔交易是“沪港通”启动以来，第一笔由港交所合格发行企业完成的交易。

The deal was the first by an eligible Hong Kong Stock Exchange issuer since the launch of the Shanghai-Hong Kong Stock Connect .

然而，更长期来看，市场参与者预计随着沪港通不断拓展，将有更多机构投资者和其他投资者使用这一投资渠道。

Longer term , however , market participants expect more investors , institutional and other , to use Stock Connect as it expands .

沪港通是一个跨境交易项目，第一次允许海外资金直接买入中国内地上市公司股票。

The Stock Connect is a cross-border trading programme that has given overseas funds free access to mainland-listed companies for the first time .

他接着说道：作为一个行业，我们强烈支持沪港通项目，并致力于该项目的成功启动。

We as an industry are strong supporters of the stock connect project and are very committed to having a successful launch , he added .

作为跨境股票交易链接，沪港通使境外投资者能够在不需要申请许可的情况下，买卖数百只上海上市的股票。

The Stock Connect a cross-border share trading link has given foreign investors access to hundreds of Shanghai-listed stocks without the need for a licence .

通过经沪港通交易的沪市股票的净销售情况，可以看到国际投资者也一直在将资金撤回香港市场。

International investors also have been reallocating funds to the Hong Kong market , as shown by net selling of Shanghai equities through the Stock Connect .

新启动的沪港通机制允许投资者经由香港购买部分A股，这将在一定程度上解决进入市场的渠道问题。

The new Shanghai-Hong Kong Connect programme , which allows investors to buy some A-shares via Hong Kong , will address some of the access issues .

沪港通启动之前，各方一直忙着对接系统、争取客户、澄清规则、厘清长久以来的税收争议，以及解决法律难题。

There has been a rush to align systems , capture clients , clarify rules , navigate long-running tax disputes and resolve legal conundrums before the launch .

在岸债券可获得性的不断提升，部分缘于沪港通的开通，这一跨境股票交易机制绕过了现行的两个配额体系。

Rising exposure to onshore bonds has been partly enabled by the Shanghai-Hong Kong Stock Connect , a cross-border share trading scheme that bypasses existing quota systems .

这些不确定性促使亚洲证券业与金融市场协会（ASIFMA）致函相关监管机构，要求在沪港通正式启动前给予充分通知。

Those uncertainties prompted Asia 's financial markets industry body , Asifma , to write to regulators to plea for sufficient notice ahead of the formal launch .

很多资产管理公司的业务授权使他们无法在中国内地投资，因此他们必须先修改这些授权规则，才能开始通过沪港通购买股票。

Many have mandates that prevent them from investing into the Chinese mainland , so they must redraft these rules before they can start buying through Stock Connect .

沪港通若能成功投入运行，还可能为中国股票被纳入全球指数铺平道路，这有可能会吸引数千亿美元流入内地市场。

A successful launch could also pave the way for Chinese equities to be added to global indices , potentially drawing hundreds of billions of dollars into mainland markets .