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来源:百度知道 编辑:UC知道 时间:2024/05/30 21:13:39
人民币长期升值会引起境外投机资本源源不断流入,一旦投入股市,对中国证券业的影响不容忽视。
人民币汇率上升必将给我国证券市场产生深远的影响,就其影响的途径来看,主要来源于经常项目和资本项目两个方面。管理
人民币升值对证券市场的影响途径主要来源于经常项目和资本项目两个方面。一方面,人民币升值必将改变我国现有进出口状况,进而影响对进出口依存度大的上市公司的基本面及业绩;另一方面,人民币升值将吸引国际投机资本,以正规和非正规渠道进入中国证券市场进行套汇,尽管我国资本市场相对封闭性,以及现阶段人民币资本项目下不可自由兑换,但实际上境内外资本管道是在逐渐连通的,从资本市场来说,H股、B股、A股市场的QFII等都是连接境内外的管道,从外汇市场而言,沿海一带发达的地下外汇市场已成为我国正规外汇市场的重要补充。一旦人民币步入升值周期,这些巨额资金以各种方式自由进出证券市场以获取人民币汇率上升带来的丰厚收益。导致A股产生证券泡沫,给我国证券市场将带来深远的影响

关键词:人民币升值 证券市场 投机 泡沫

RMB appreciation will cause long-term foreign speculative capital inflows continue, once into the market. China's securities industry should not be neglected. RMB exchange rate will rise to China's securities market will have a far-reaching impact on the way its influence, comes mainly from the current and capital account two aspects. Management of the renminbi appreciation on the stock market in the main channel from the current account and capital account two aspects. On one hand, the appreciation of the renminbi will certainly change our existing import and export situation, thereby affecting the degree of dependence on the import and export of major listed companies fundamentals and performance; the other hand, RMB appreciation will attract international speculative capital, in both formal and non-formal channels to enter the Chinese market for foreign exchange control, Despite China's capital market is relatively closed, and at this stage of RMB under capital accoun