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11月7日,《合格境外机构投资者(QF11)境内证券投资管理暂行办法》的出台,多少出乎人们的意料。虽说讨论与酝酿已迟三年之久,依然未见其面;虽说对台湾模式的借鉴已做好铺垫,但还是让投资者始料不及。姑且不论其时间选择,该项政策足以显示中国政府兑现“入世”承诺、逐步开放资本市场的决心。 QF11的实施,肯定是利好消息,特别是从长期看。中国证监会首席顾问梁定邦曾表示,“引入QF11对中国证券市场的创新将起到催化剂作用,将直接使国内证券市场与国际市场逐步接轨”。高盛(亚洲)董事总经理胡祖六则认为,
On November 7, the promulgation of the Interim Measures for the Administration of Securities Investment by Qualified Foreign Institutional Investors (QF11) in China was somewhat beyond people’s expectations. Although the discussion and brewing has lasted three years later, still no see; Although the reference to the Taiwan model has been paved the way, but still let investors unexpected. Regardless of its time choice, this policy is sufficient to show the determination of the Chinese government to deliver on its promise of “WTO accession” and gradually liberalize the capital market. The implementation of QF11 is certainly good news, especially in the long run. Liang Dingbang, chief consultant of China Securities Regulatory Commission, once said: “The introduction of QF11 will play a catalytic role in the innovation of China’s securities market and will directly bring the domestic securities market into line with the international market.” Goldman Sachs (Asia) Managing Director Hu Zu think,