China Opens Shanghai Stock Market to Hong Kong.doc

China Opens Shanghai Stock Market to Hong Kong 中国向香港开放上海证券市场 From VOA Learning English, this is the Economics Report. 这里是美国之音慢速英语的经济报道。 Investors in Hong Kong and Shanghai may now invest in a limited group of securities on either citys stock exchange. C. K. Chow is the chairman of Hong Kong Exchanges and Clearing. He called the move “a breakthrough in the opening of China’s financial markets and an important milestone in the development of Hong Kong.” He said the new way to invest made Hong Kong a gateway between mainland China and international investors. 香港和上海的投资者也许可以在任何一个城市的证券市场进行一定限额的证券投资。C. K. Chow是香港交易所的主席，他称这一举动是打开中国金融市场的一个重大突破，也是香港发展的一个里程碑。”他表示这是香港吸引大陆和国际投资者一种新的投资方式。 The Shanghai-Hong Kong Stock Connect gives investors the ability to buy stocks listed in mainland China. It also permits Chinese investors to buy stocks listed in Hong Kong. 上海证交所与香港证交所的联合让投资者能够有能力购买中国大陆的股票，同时也能够让大陆的投资商购买香港的股票。 There are limits, however, to the value and the kinds of stocks that can be traded. Investors may trade only a total of $3.8 billion-dollars-worth of stocks each day. 但是，并不是所有的股票都可以交易，有些股票价值总额有限制。投资者每天只能交易价值38亿美元的股票。 Julian Evans-Pritchard is a China economic expert at Capital Economics based in Singapore. He told VOA’s Victor Beattie that the move to open the stock exchanges to each other was important. But Mr. Evans-Pritchard noted that the total value of stock that can be traded is a relatively small quota. 朱利安·伊凡斯·皮特查德是新加坡凯投宏观公司(Capital Economics)的中国经济专家。他接受美国之音的维克特·贝蒂采访时说开放证券市场这一举动对香港和上海来说都很重要。但是他还指出股票交易的总价值数量相对来说还是个小限额。 “The immediate impact of the scheme is not likely to be that big and that is partly because regulators are taking a very cautious approach to limiting the quota to about one percent of the market capitalization of each market.” “这项计划的直接影响似乎没有那么大，部分原因是因为监管机构采取非常谨慎的方式来限制交易额，限额大概只占每个市场资本的百分之一。” Mr. Evans-Pritchard says, if the quota is filled, officials may see a reason to increase it over time and open up the exchange further. The stock plan represents