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FTSE Russell has paved the way for the inclusion of domestic Chinese shares in global benchmarks with the launch of two new emerging market indices, marking a further step in the opening of China’s financial markets.
富时罗素(FTSE Russell)为将中国A股纳入全球基准铺平道路，推出两个新的新兴市场指数，标志着中国金融市场开放迈出又一步。
China’s two stock markets, in the middle of a vast bull market, are currently more than twice the size of the London market, giving an indication of how large a share of global benchmarks mainland stocks could become if Chinese markets were opened fully. The Shanghai market rose another 2 per cent yesterday, taking its gain this year to 50 per cent. Over the same period, the Shenzhen market has doubled.
中国两个股票市场正处于巨大牛市，目前的规模是伦敦股市的两倍多，这表明如果中国A股全面开放，其占全球基准的权重可能会很高。上海股市昨日再上涨2%，使今年累计涨幅达到50%。同期深圳市场股价已翻番。
The question of whether to add Shanghai and Shenzhen-listed stocks, known as A shares, to global indices has been a challenge for index providers. A-share inclusion could force investors to allocate billions of dollars into Chinese stocks, potentially drawing large sums away from other, smaller emerging markets.
要不要把在上海和深圳上市的股票（即中国A股）纳入全球指数？这个问题一直是指数供应商面临的一项挑战。纳入A股可能会迫使投资者将数十亿美元资金配置到中国股票上，这可能导致大量资金撤离其他规模较小的新兴市场。
MSCI is due to announce its own decision on A-share inclusion on June 9, having decided not to add the stocks to its emerging markets indices last year following pushback from investors.
摩根士丹利资本国际(MSCI)将于6月9日宣布有关纳入中国A股的决定，去年，在投资者提出反对后，该公司决定不将中国A股纳入其新兴市场指数。
Since then Chinese authorities have taken steps to open the domestic share market, such as increasing investment allocations through its twin quota system, and with the launch of the Shanghai-Hong Kong Stock Connect.
此后，中国当局采取措施放开中国国内股市，例如通过两个配额制度增加投资额度，并推出沪港通。
Yesterday, FTSE Russell announced the launch of two emerging markets indices in which A shares will have a 5 per cent weighting, up from nothing currently. That would give domestic Chinese shares a larger weighting than Russia and a similar weighting to Mexico in the FTSE emerging markets index. Chinese companies listed offshore, either in Hong Kong or New York, currently account for 26 per cent of the index.
富时罗素昨日宣布将推出两个新的新兴市场指数，中国A股将获得5%的权重，而目前为零。这将令中国A股在富时新兴市场指数中的权重超过俄罗斯，与墨西哥相近。在海外（要么香港要么纽约）上市的中国公司目前在该指数中的权重为26%。
