China’s asset bubble did not burst last year, it just changed location — from equities to residential property. Last month, in an effort to cool the frenzy, the government introduced property price cooling measures. On Friday, official data showed that these have halted the run in cities including Shenzhen. There, interest looks set to shift back to the stock market as a scheme will open soon, allowing foreigners to trade Shenzhen-listed stocks through Hong Kong accounts.
去年,中國的資產(chǎn)泡沫沒有破裂,只是換了地方,從股市轉(zhuǎn)移到了住宅房地產(chǎn)市場。上月,中國政府為了給房地產(chǎn)市場降溫,推出了抑制房價的舉措。上周五,官方數(shù)據(jù)顯示,這些舉措遏制了各城市的房價上漲趨勢,包括深圳。在深圳,投資者的興趣似乎將返回股市,因為一項計劃即將啟動,將允許境外投資者通過香港賬戶交易在深圳上市的股票。