香港政界人士22日訪問了上海證券交易所。相片:政府新聞

近期香港特區政府和香港交易所與中國證監會商討後得出共識,香港主板上市的同股不同權(WVR)企業7月會納入港股通及深港通。

香港立法會議員4月21日前往上海,展開在長江三角洲地區的聯席事務委員會職務訪問,了解當地的經濟、金融和創新及科技業發展。參與行程的財經事務及庫務局局長劉怡翔4月22日訪問上海證券交易所後,向傳媒證實了關於WVR企業加入「互聯互通」的說法。

劉怡翔說,並不特別擔心上海的科創板跟香港的IPO(首次公開招股)「搶生意」。他說,香港作為國際金融中心,有很多競爭對手,但即使面對紐約、倫敦,對香港來說都有不同的商機。「互聯互通」對人民幣國際化和香港與內地雙向資金流動是很重要的渠道,「互聯互通」再擴闊對雙方都有利。

去年4月,港股包括WVR的上市新政落地,隨後滬深交易所與港交所雙方就開始醖釀將WVR公司加入「互聯互通」。去年8月港交所行政總裁李小加稱,已與滬深交易所有共識,仍要完善具體細節,相關工作小組已開始運作。

今年2月,安排已經初見雛形,李小加預計7月可將WVR股份納入互聯互通,而且會與內地商討,將上交所的科創板企業也納入互聯互通。對於參考WVR制度設立的科創板,他說,上市企業一直有其他上市地可以選擇,「天下間都是競爭。」

現時在港上市的WVR公司只有小米、美團兩家,一旦被納入港股通,內地資金就會通過港股通渠道進行投資。該消息公佈後的第一個交易日,兩只股票分別上漲4.27%及1.81%。

中泰國際策略分析師顏招駿表示,相信7月納入港股通初期,對股價帶來正面刺激,也會吸引長線機構投資者通過港股通配置小米和美團,從而帶來增量資金。他認為,小米上市初期的超高估值已修正過來,目前預測市盈率不足20倍,估值有一定吸引力;另一方面,科創板啓動在即,相信有利於提高小米及美團的估值,也會帶來一定的炒作機會。

去年4月底的香港上市新政還包括允許未盈利的生物科技公司上市,截至目前已有7家此類公司在港上市,表現不一。相信在WVR公司納入港股通的監管信號明確之後,下一步可以期待未盈利生物科技公司也被納入互聯互通渠道。

李小加近日表示,香港已經成為全球第三大生物科技公司上市地,而且目前上市申請仍然踴躍,香港發展為全球生物科技企業融資中心已初見成效。他認為互聯互通的開放會越來越大。中國證監會主席易會滿在4月22日的中日資本市場論壇上也表示,中國證監會會同市場有關各方,加快推進資本市場改革開放,努力形成更加開放包容的資本市場基礎制度,持續完善內地與香港股票市場互聯互通機制,放寬證券基金期貨行業外資准入。

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