曾蔭權支持滬港股票跨境交易

香港特首曾蔭權(Donald Tsang)表示，支持有關香港和上海交易所彼此交易對方上市股票的提議，并證實正在進行相關談判。

Donald Tsang, Hong Kong's chief executive, has endorsed proposals to begin trading Hong Kong and Shanghai-listed shares on each other's exchanges, and confirmed that talks are under way.

"沒有道理……上海上市的股票不能通過某種金融工具在香港交易，"曾蔭權接受英國《金融時報》采訪時表示。"同樣，我也看不出香港股票為何不能通過套利安排在上海股市交易……我們正在討論相關的機制。"

"There's no reason why ………stocks listed in Shanghai cannot through some financial instruments be traded in Hong Kong," Mr Tsang said in an interview with the Financial Times. "Similarly, I do not see why Hong Kong stocks cannot be co-listed in the Shanghai stock market through an arbitrage arrangements ……We are discussing the mechanics of it."

曾蔭權是迄今為止聲明支持建立跨境股票交易機制（例如存托憑證）的級別最高的官員。這種機制可將市值排名全球第五和第六的兩個股票交易所連接起來。香港交易所與上海及深圳證券交易所的市值總和占全球股市總市值的7.65%，僅次于日本8.48%的水平。

Mr Tsang is the most senior official to voice support of cross-border trading mechanisms - such as depositary receipts - that could link the world's fifth and sixth-largest stock markets by market capitalisation. The Hong Kong stock exchange and its counterparts in Shanghai and Shenzhen together account for 7.65 per cent of global market capitalisation, just behind Japan's 8.48 per cent.

今年2月份，香港金融管理局(HKMA)總裁任志剛(Joseph Yam)曾發出呼吁，建議創立"以上海、深圳和香港交易所上市股票托管證明書為形式的衍生工具"。

In February, Joseph Yam, chief executive of the Hong Kong Monetary Authority, mooted the creation of "certificates of ownership of shares listed on the Shanghai, Shenzhen and Hong Kong stock exchanges".

上海市金融服務辦公室副主任方星海稍后接受英國《金融時報》采訪時表示，支持為42家兩地上市的企業建立一種股票聯動交易機制。

In a later interview with the FT, Fang Xinghai, deputy director of Shanghai's financial services office, endorsed a joint trading mechanism for shares in 42 groups traded on both exchanges.

隨著中國政府敦促那些已在香港上市的內地最大、最好的企業回歸上海股市，兩地同時上市的企業數量正在日益增加。

The number of companies traded on both markets is rising as the Chinese government urges its biggest and best companies, which have flocked to Hong Kong, to list in Shanghai as well.

但由于人民幣無法自由兌換，加之國際資金無法參與中國內地股市，因此，兩地股票價格差距頗大。這些企業在上海的A股價格通常是其香港H股價格的兩倍。

But with the renminbi not freely convertible and China's stock markets isolated from international capital flows, valuations diverge widely. Companies' Shanghai-listed A-shares are typically trading at twice the level of their Hong Kong H-shares.

"我們正在盡力幫助上海股市實現現代化，"曾蔭權表示。"中國存在兩個不同的市場。一個是香港的外向型國際市場，另一個是上海的地區性市場……我們作為一個國際化平臺，領先大約15年。"

"We are helping Shanghai as much as possible to modernise the market," Mr Tsang said. "There are two different markets. One is an external international global market in Hong Kong and one is a regional market in Shanghai……We are an international platform way ahead - about 15 years ahead."