李小加:香港仍是中国资本市场开放与国际化进程极重要一环
港交所(00388.HK)行政总裁李小加发表题为「2020已至,香港还行吗?」的网志,指香港早已不再是对中国GDP贡献最大的城市,香港相对中国内地GDP的占比已经从1993年的27%跌至2018年的2.7%,香港实体经济对於飞速发展的中国经济的重要性已经非常微小。正因为此,香港还行不行就经常成为人们讨论的话题。
他表示,稍微调整视角聚焦香港在中国金融市场发展中的贡献,一定会同意香港在过去的十年已成为连接中国与世界的最重要纽带。统计资料显示,过去十年来自香港的投资在中国内地实际利用外资额中的占比不降反升,一直保持在60%以上,在中国内地资金的对外投资中,通过香港出海的投资占比一直保持在60%以上。自1993年以来,香港一直是内地企业首选的境外融资中心,过去十年香港市场的新股总融资规模超过2.3万亿港元,全球排名第一,其中大部分为内地企业融资。
李小加又提到,沪深港通开通五年以来,北向流入金额达到1.01万亿元人民币,外资持股达1.44万亿元人民币;债券通开通两年多以来,达成交易超过3.8万亿元人民币。而对於中国和国际金融市场而言,面对未来十年的高度不确定性,香港作为翻译机和转换器的功能会显得尤为重要与迫切。一方面,世界与中国都迫切需要中国的金融市场更加开放、更加国际化;另一方面,中国金融市场的巨大体量、自成一体的市场结构和监管路径决定了双方很难在都不大改自己的前提下充分相容与融合,因此认为香港一定仍然会是中国资本市场开放与国际化进程中的极其重要的一环。
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