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李小加:香港仍是中國資本市場開放與國際化進程極重要一環
阿思達克 01-06 17:40

港交所(00388.HK)行政總裁李小加發表題為「2020已至,香港還行嗎?」的網誌,指香港早已不再是對中國GDP貢獻最大的城市,香港相對中國內地GDP的佔比已經從1993年的27%跌至2018年的2.7%,香港實體經濟對於飛速發展的中國經濟的重要性已經非常微小。正因為此,香港還行不行就經常成為人們討論的話題。

他表示,稍微調整視角聚焦香港在中國金融市場發展中的貢獻,一定會同意香港在過去的十年已成為連接中國與世界的最重要紐帶。統計資料顯示,過去十年來自香港的投資在中國內地實際利用外資額中的佔比不降反升,一直保持在60%以上,在中國內地資金的對外投資中,通過香港出海的投資佔比一直保持在60%以上。自1993年以來,香港一直是內地企業首選的境外融資中心,過去十年香港市場的新股總融資規模超過2.3萬億港元,全球排名第一,其中大部分為內地企業融資。

李小加又提到,滬深港通開通五年以來,北向流入金額達到1.01萬億元人民幣,外資持股達1.44萬億元人民幣;債券通開通兩年多以來,達成交易超過3.8萬億元人民幣。而對於中國和國際金融市場而言,面對未來十年的高度不確定性,香港作為翻譯機和轉換器的功能會顯得尤為重要與迫切。一方面,世界與中國都迫切需要中國的金融市場更加開放、更加國際化;另一方面,中國金融市場的巨大體量、自成一體的市場結構和監管路徑決定了雙方很難在都不大改自己的前提下充分相容與融合,因此認為香港一定仍然會是中國資本市場開放與國際化進程中的極其重要的一環。

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