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沪伦通 Shanghai-London Stock Connect

Updated: 2019-06-30
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6月17日,中国证监会和英国金融行为监管局发布联合公告,原则批准上海证券交易所和伦敦证券交易所开展沪伦通业务,沪伦通正式启动。

Under the Shanghai-London Stock Connect mechanism, Shanghai-listed companies can list on the London Stock Exchange via Global Depositary Receipts (GDRs) issuance, while British companies can issue China Depositary Receipts (CDRs) on the Shanghai Stock Exchange.
在沪伦通业务机制下,上海的上市公司可以通过全球存托凭证在伦敦证券交易所上市交易,英国的上市公司可以在上海证券交易所挂牌中国存托凭证。

【知识点】

沪伦通(Shanghai-London Stock Connect),即上海证券交易所与伦敦证券交易所互联互通机制(connectivity mechanism between the Shanghai Stock Exchange and the London Stock Exchange),符合条件的两地上市公司可依照对方市场的法律法规发行存托凭证(Depositary Receipt,DR),并在对方市场上市交易。

存托凭证(Depositary Receipt,DR),指在一国证券市场流通的公司通过中间机构(通常为一银行,称为保管银行或受托银行)在外国交易市场发行的有价证券的可转让凭证。存托凭证一般代表公司股票,但有时也代表债券。境外基础证券发行人在中国境内发行的存托凭证叫中国存托凭证(China Depositary Receipts,CDRs),境内企业在境外发行的存托凭证叫全球存托凭证(Global Depositary Receipts,GDRs)。

A quota system has also been established for the cross-border conversion business in the early stages of the program, according to a joint announcement by the CSRC and the Financial Conduct Authority.
中国证监会和英国金融行为监管局的联合公告指出,起步阶段,对沪伦通跨境资金实行总额度管理。

Under the system, the quota for eastbound business is set at 250 billion yuan (about $36.26 billion ), while that for westbound business stands at 300 billion yuan.
其中,东向业务总额度为2500亿元人民币;西向业务总额度为3000亿元人民币。

投资者开通沪伦通权限须满足:前20个交易日证券账户及资金账户内的资产日均不低于人民币300万元。

作为连接中国和英国资本市场的桥梁,沪伦通源起于2015年9月举行的第七次中英经济财金对话(the seventh China-UK Economic and Financial Dialogue)。过去4年间,中英双方都在为这座桥梁早日“通车”积极准备。

The mechanism would be of far-reaching significance to expand channels for cross-border investment and fund-raising, boost the development of both countries' capital markets and encourage the building of Shanghai into an international financial hub, the CSRC said in a statement.
证监会表示,启动沪伦通对拓宽双向跨境投融资渠道,促进中英两国资本市场共同发展,助力上海国际金融中心建设,都将产生重要和深远的影响。

2014年和2016年,我国先后推出沪港通(Shanghai-Hong Kong Stock Connect)和深港通(Shenzhen-Hong Kong Stock Connect),允许沪深和香港的投资者互相到对方市场直接买卖股票。