China Clearing Corporation to develop ^ h shares "all clear" pilot business guide

Message of May 22, for the implementation of?Shares "circulation" pilot, clearly related business arrangements and the application process share registration depository and settlement and delivery, the China Clearing Corporation developed a " '。Domestic securities companies, foreign brokerage agents involved?Shares "circulation" pilot business, are required to apply to open a branch in Shenzhen?Shares "circulation" reserve account and deposit account。  Further reading April 27, sponsored by Guotai Junan International Holdings Limited ( "Guotai Junan International") listed on the Hong Kong stock exchange was held in Beijing from HKEx, investment banks, law firms, accounting firms and other experts on cross-harbor the recent launch of the listing of new regulations to interpret from different angles。Guotai Junan Securities said the recent launch of the new regulations is listed on HKEx 25 years, major changes on the market system, and its purpose is more transparent, more open to market rules to attract more companies listed in Hong Kong, while taking into account to better protect investors interest。  Turning to the recent launch of the Commission?When stocks "tradable" pilot issues, Guotai Junan International Managing Director Liangwan Jun said, H shares "tradable" pilot will affect three aspects: First trillion market value of the shares or Bay Harbor, are expected to exceed 950 billion yuan of funds into Hong Kong stock market capitalization increased to 951600000000-2.62 trillion yuan range; second is to help mainland enterprises into the international index, H shares after the "tradable" shares in circulation Mainland enterprises will be improved and will facilitate mergers and acquisitions to enhance the opportunities for Mainland enterprises into the international index ; Third, the impact on the company's shareholders, increasing the exit ie domestic shareholders sell goods cash channels, but on the other hand, for?Hong Kong stocks companies shareholders, or short-term share price pressure, long-term look at opportunities to enhance the blog to join the international index valuation。  HKEx Beijing Representative Office Zhang Xia said, mainland enterprises listed in Hong Kong tend to choose in favor of lifting the market value of the enterprise, it is because, compared to in the United States and other overseas markets, as investors in the Hong Kong market and more from the local Hong Kong and the Mainland Investors composition, these investors at the same time as the user easier to understand the business model of the enterprise and its market impact。Tencent and Alibaba, for example, were both listed in Hong Kong and the United States, but the market value of the performance after the listing, as of the end of March 2018, Tencent market capitalization of $ 500 billion, earnings 36.7 times, Alibaba market capitalization of $ 470 billion, trades at 32.9 times, indicating that Tencent's share price performance and market capitalization than winning Alibaba。  Zhang Xia said that the approval process from the listing to see that Hong Kong has a high amount of transparency disclosure of information approval system, the lower policy risk。IPO application and approval process is also more streamlined, with 2017 IPO application and approval circumstances, for example, last year's IPO application is refused there are only eight, and accept applications up to 310 companies; the time required to market, from the submission of IPO generally only apply to the complete listing of 6-9 months。  Beijing Municipal Finance Bureau officials said at the meeting that this year Beijing will introduce guidance to support the development of listed companies, listed in Hong Kong for Beijing enterprises will enjoy the same preferential treatment。Data show that Beijing a total of 135 companies listed in Hong Kong, accounting for 13% of mainland companies listed in Hong Kong, Mainland consecutive years ranked first。  Experts reports