Cov tub ua lag luam tau coj raws li xov xwm zoo a thov hloov txoj cai los ntawm Suav cov tswj hwm uas tuaj yeem tso cai rau tsoomfwv tsis yog Suav nkag mus rau cov ntaub ntawv tshawb xyuas. Cov tswj hwm yav dhau los tsis tau tso cai rau Asmeskas nkag mus rau Suav tuam txhab lag luam cov ntaub ntawv ua haujlwm. Qhov ntawd yog qhov teeb meem nyob rau hauv nruab nrab ntawm Lub Tuam Txhab Txawv Tebchaws Txoj Cai Lij Choj uas tau ua rau cov txheej txheem tshem tawm cov tuam txhab Suav tshwj tsis yog lawv ua raws li Asmeskas kev tshawb xyuas kev tshaj tawm rau peb xyoos ncaj qha - los ntawm 2024.
Kev tshem tawm ntawm cov lus tseem ceeb uas kev tshuaj xyuas ntawm qhov chaw yuav tsum tau "tswj" los ntawm Suav cov tswj hwm yog "thawj pej xeem cov kauj ruam" Tuam Tshoj tau ua los txhim kho qhov txawv ntawm qee qhov kev daws teeb meem kom cov tuam txhab suav ua raws li cov neeg siv khoom sau tseg. los ntawm Bernstein tus kws tshuaj ntsuam Robin Zhu.
Tseem ceeb, nws tau hais tias, yog Suav cov tswj hwm kev lees paub tias cov ntaub ntawv thiab cov ntaub ntawv tau muab hauv kev tshuaj xyuas kev tshaj tawm "tsis tshua muaj lub xeev zais cia thiab cov ntaub ntawv rhiab heev." raws li Zhu.
Kuj zoo: Qhov kev txav mus los tsis yog los ntawm cov tswj hwm kev nyab xeeb nkaus xwb tab sis kuj los ntawm Tuam Tshoj Ministry of Finance thiab State Secrecy Administration, hais tias KraneShares Chief Investment Officer Brendan Ahern. Nws hais tias "Qhov yuav tshwm sim ntawm kev tshem tawm los, tab sis nws tsis raug tshem tawm," nws hais.
Bernstein's Zhu kuj tau sau tseg tias kev pheej hmoo tseem nyob, sau tias ntau npaum li cas yuav nyob hauv cov ntsiab lus ntawm kev hloov txoj cai.
Ntawm no yog ib qho laj thawj rau kev hloov txoj cai yuav tsis txaus: Asmeskas cov tswj hwm tau hais tias lawv tab tom nrhiav kev ua raws li tag nrho lossis tsis muaj kev pom zoo. Public Company Accounting Oversight Board (PCOB) tau hais lub lim tiam dhau los hauv ib nqe lus tias nws tseem koom nrog Suav cov tub ceev xwm tab sis nws qhov yuav tsum tau muaj kev nkag mus rau tag nrho cov ntaub ntawv txheeb xyuas, txawm tias los ntawm cov tuam txhab hauv kev lag luam rhiab, tsis tuaj yeem sib tham.
Thiab Tuam Tshoj txoj cai hloov pauv tsis tau raws li qhov tseem ceeb hauv Teb Chaws Asmeskas xav tau. Nws tseem xav kom cov tuam txhab Suav tau txais kev pom zoo los ntawm cov tswj hwm ua ntej sib koom cov ntaub ntawv tshawb xyuas, thiab nws tseem xav tau kev pom zoo rau kev hloov ntawm cov ntaub ntawv uas yuav "muab lub xeev tsis pub lwm tus paub lossis ua rau lub xeev thiab cov txiaj ntsig rau pej xeem," sau Thomas Gatley, tus kws tshuaj ntsuam laus ntawm Gavekal. Dragonomics, hauv daim ntawv rau cov neeg siv khoom. Qhov feem ntau yuav tshwm sim, Gatley ntxiv, yuav yog tias feem ntau Suav tuam txhab uas muag yuav raug rho tawm ntawm Asmeskas kev sib pauv.
Tebchaws Asmeskas yeej tsis tau pom hom kev tshem tawm ntau uas tuaj yeem ua raws yog tias tsis muaj kev pom zoo, yog vim li cas qee cov kws tshuaj ntsuam xav tias qee yam kev ua haujlwm nyob ib puag ncig tseem tuaj yeem ncav cuag. Qhov ntawd tuaj yeem suav nrog cov tuam txhab nrog cov ntaub ntawv rhiab, zoo li cov tuam txhab hauv xeev xws li
PetroChina
(PTR), lossis txawm tias qee lub tuam txhab hauv internet tau muab Tuam Tshoj qhov kev txhawj xeeb txog kev ruaj ntseg cov ntaub ntawv yeem tso npe tawm. Ntau lub tuam txhab Suav tseem yuav mus nrhiav cov npe thib ob hauv Hong Kong, nrog qee qhov nyiam
Li Pib
(LI) thiab
Xpeng
(XPEV) tab tom nrhiav kom Hong Kong lawv thawj daim ntawv teev npe, tso cai rau lawv coj mus rhaub cov neeg ua lag luam hauv Suav teb los ntawm Stock Connect program.
Thiab cov kev hloov pauv no-tsis hais txog dab tsi tshwm sim nrog cov tswj hwm-yuav coj lawv tus kheej hloov pauv raws li cov tub ua lag luam ntau xaiv rau cov koom hauv zos. Piv txwv li MSCI Tuam Tshoj Performance index, swapped tawm ADRs ntawm
Alibaba
,
JD.com
(JD) thiab
NetEase
xyoo tas los rau cov tuam txhab 'Hong Kong npe.
MSCI qhov kev sib npaug ntawm lub Rau Hli tuaj yeem pom ntau qhov kev sib pauv rau cov tuam txhab uas tau muaj lawv cov npe thib ob hauv Hong Kong ib ntus thiab ua tau raws li qee qhov kev ua tau zoo, suav nrog
Baidu
,
thiab tejzaum nws
Bilibili
(BILI). Ahern hais tias "Rau cov thawj tswj hwm loj hauv ntiaj teb no, lawv tsuas yog yuav tsum tau saib xyuas vim tias qhov pheej hmoo tseem nyob ntawd," Ahern hais.
Cov lus nug loj dua rau cov tub ua lag luam yog tias Suav cov lag luam hauv internet xws li Alibaba, kev ua lag luam ntawm ob tus qauv sib txawv hauv qab tsib xyoos kev ntsuas keeb kwm, tsim nyog pouncing rau, tshwj xeeb tshaj yog tom qab myriad. kev lees paub los ntawm Suav cov tub ceev xwm ua ntej lub hli tsom mus rau kev lag luam ntsiag to.
Tab sis qhov kev pheej hmoo delisting tsuas yog ib feem ntawm cov teeb meem nyob ze. Tuam Tshoj txoj kev txwv nruj Covid tau thawb lub nroog xws li Shanghai, lub nroog ntawm 25 lab, nyob rau hauv ib tug ncua kev kaw cia raws li nws grapples nrog cov ntaub ntawv cov ntaub ntawv thiab cov hloov geopolitical toj roob hauv pes raws li Tuam Tshoj sim nyob nruab nrab in kev tsov rog nyob rau hauv Ukraine ntxiv lwm theem ntawm kev tsis paub meej. Thawj Tswj Hwm Biden tseem tab tom txhim kho nws txoj cai Tuam Tshoj thiab daim nqi Tuam Tshoj yog ua haujlwm nws txoj hauv kev los ntawm Congress- ob qho tib si tuaj yeem cuam tshuam cov neeg ua lag luam kev xav txog Suav cov khoom lag luam.
"Peb pom cov kev thim rov qab zoo li cov ntsiab lus muag tsis zoo yuav tsis zoo vim peb xav tias cov teeb meem rau cov khoom lag luam no yog kev sib tw thiab cov qauv," BCA China Strategist Jing Sima tau hais hauv kev qhia luv luv lub lim tiam dhau los txog cov tuam txhab thev naus laus zis hauv Suav. "Lub voj voog kev lag luam tsis tau tsoo hauv qab thiab nws yuav muaj qhov tsis zoo hauv qab nrog kev rov tshwm sim hauv Covid cov xwm txheej thiab kev kaw hauv nroog."
Cov neeg yos hav zoov tuaj yeem siv sijhawm lawv lub sijhawm raws li qhov tsis txaus ntseeg yuav nyob mus ib ntus.
Sau ntawv rau Reshma Kapadia ntawm [email tiv thaiv]