沪深港交易所将成立合资公司

The stock exchanges of Hong Kong, Shanghai and Shenzhen will invest a total of HK$300m in creating a joint venture aiming to give investors access to ­companies listed in all three cities for the first time.

香港、上海和深圳的交易所将总共投资3亿港元，创建一家合资公司，其宗旨是让投资者首次能够投资于在所有三个城市上市的公司。

The venture, to be a ­separate company, should be up and running within three months and Charles Li, chief executive of Hong Kong Exchanges & Clearing Limited(HKEx), said it would create its first cross-border indices by the end of the year.

合资公司将作为一家独立企业，在3个月内投入运行，香港交易所行政总裁李小加(Charles Li)表示，它将在年底前推出首批跨境指数。

Further products, such as derivatives and exchange traded funds based on the indices and stocks will be introduced next year.

明年将推出更多产品，如基于指数和股票的衍生品与交易所交易基金(ETF)。

The move is another step in the co-operation between the three exchanges, who have frequently been rivals as they vie to be the pre- eminent exchange in China.

此举标志着三家交易所在合作的道路上又迈出一步，这三家交易所经常相互竞争，因为它们都在争取成为中国首要交易所。

The three have previously signed agreements to co-operate on various issues, but it is the first commercial venture between them.

以前这三家交易所也曾签署一些协议，在各种事项上进行合作，但这一次是它们首次达成商业合资协议。

Hong Kong stole a march on its rivals 10 days ago by winning the race with IntercontinentalExchangeof the US to buy the London Metal Exchange.

香港交易所在10天前拨得头筹，在竞购伦敦金属交易所(LME)的较量中击败美国的洲际交易所(IntercontinentalExchange)。

Charles Li, its chief ­executive, has ambitious plans to make HKEx the gateway for the world’s ­capital markets to China.

港交所行政总裁李小加有雄心勃勃的计划，要使港交所成为世界资本市场的中国门户。

Each exchange will ­contribute HK$100m to the new venture while HKEx will nominate the chief executive from its designated directors.

三家交易所将各出资1亿港元成立合资公司，港交所将从其委派的董事中提名合资公司的总裁。

It would be based in Hong Kong and would offer products in Hong Kong dollars, Renminbi and both currencies together, Mr Li said.

李小加表示，总部位于香港的这家合资公司，将提供港元、人民币以及双币产品。

Asked if the joint venture was a prelude to a merger between the three exchanges, Mr Li said: "We have not talked about a merger of the exchanges, it has not been discussed at all and is not part of our plans."

在被问及合资是不是三家交易所合并的前奏时，李小加表示："我们并未谈到交易所合并的事，这事根本不在讨论范围内，不是我们计划的一部分。"

Mr Li said the venture was designed to achieve three main objectives. "These are to increase co-operation between Hong Kong and the mainland exchanges, to promote the internationalisation of the Shanghai, Shenzhen and Hong Kong exchanges and to enhance the overall ­competitiveness of Chinese ­capital markets," he said through an interpreter.

李小加表示，合资公司旨在实现三大目标。"这些目标是，增进香港与内地交易所之间的合作，促进沪、深、港交易所的国际化，以及强化中国资本市场的总体竞争力，"他通过一名译员表示。

Song Liping, chief executive of the Shenzhen exchange, said the move would help investors from the mainland and from Hong Kong gain access to their opposite markets.

深圳交易所总经理宋丽萍表示，此举将帮助内地和香港两方面的投资者进入对方的市场。

"In Hong Kong, there are lots of investors who want to invest in mainland China. This need has been building up and this is what pushed us into developing this joint venture," she said through an interpreter.

"香港有很多投资者希望在中国内地投资。这种需求一直在不断蓄积，也正是这种需求推动我们发展这个合资项目，"她通过一名译员表示。

Rival index compilers MSCI, Hang Seng and the China Securities Index company already offer indices containing mainland stocks, but Ms Song said the new venture would be the only one licensed to create ­indices with stocks from all three exchanges.

一些指数编制机构，如摩根士丹利资本国际(MSCI)、恒生(Hang Seng)以及中证指数有限公司(China Securities Index company)，已经在提供包含中国内地股票的股指，但宋丽萍称，新的合资公司将是唯一获准创建包含所有三家交易所上市股票的跨境指数的机构。

Additional reporting by Philip Stafford

菲利普•斯塔福德(Philip Stafford)补充报道