Shen Wanhongyuan Fu Jingtao: Long-term foreign stock allocation in the future is still considerable

Shen Wanhongyuan Fu Jingtao: Long-term foreign stock allocation in the future is still considerable

Sina Finance News Shen Wanhongyuan “Strengthening Forward” The 2019 Summer Strategy Meeting will be exchanged in Guiyang from July 10 to 11. Fu Jingtao, Chief Analyst of Shen Wanhongyuan Strategy, delivered a keynote speech on “Long March-A-share Strategic Investment in Summer 2019″It is believed that the size of the potential incremental funds of foreign holders of A shares in the future is estimated to be about 4 trillion.

With the continuous improvement of the level of domestic opening-up and the international index’s subdivision of A shares, the trend of foreign A shares layout will continue in the future.

  Fu Jingtao said that assuming the current 30% foreign shareholding constraint is unchanged, we measure the future long-term holding space of A-share foreign exchange from several ideas: 1) From the perspective of the proportion of the economy and the size of the stock market, ChinaThe share of global GDP is second only to the United States, and the market value of stocks is second only to Japan. It is assumed that the ratio of global asset management asset allocation reaches a level similar to that of Japan in 2016, that is, the ratio is assumed to reach 4.

5%, because the global equity asset allocation scale accounts for 44% (according to the data of Willis Towers Watson), the scale of ownership holdings calculated according to the global scale of 81 trillion US dollars can reach 10

9 trillion, accounting for 24% of the total market value of A shares, nearly 30% of the limit of foreign shareholding.

  2) From the perspective of analog foreign exchange holdings in emerging market countries, assuming that South Korea, which has a relatively similar share, has a foreign share of 15%. According to the current market value of 45 trillion A shares, the foreign stock market value can reach 南京夜网 6.

75 trillion, assuming the current 1.

With 68 trillion existing shareholdings, the potential future increase is 5 trillion.