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Перспективы развития фондовых рынков в России Китае и возможности их инвестрирования

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Дата создания 06 июля 2013
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Перспективы развития фондовых рынков в России Китае и возможности их инвестрирования

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Also Chinese management strictly controls all question of capital export. Investments into foreign stock markets for the Chinese citizens are possible through institute of the qualified internal institutional investors resolved in 2006 (QDII) which annual quotas also are established. The next two decades capitalization of the markets of developing countries will increase more than five times and will reach $80 billion, having surpassed thereby a similar indicator of the developed countries, Goldman Sachs Group analysts predict. Economy boom and the growing markets of the capital can increase a share of emerging markets in world capitalization to 55 % by 2030 from present 31 %.Fast economic growth and growing of stock markets which now are at early stages of development become the basic drivers. According to the forecast of the International currency fund (IMF), gross national product of developing countries will increase by 6,4 % next year, and gross national product of the developed countries on 2,4 %. Such prospects inspire investors to put up money in funds of developing countries pure inflow proceeds 14 weeks on end.More than half of capitalization of the developing countries markets will provide the Chinese platforms which by 2030 become the world's largest. In twenty years, according to Goldman Sachs, the volume of stock market of the country can increase to $41 bilion against $5 billon today that will surpass level in $34 billon which is predicted for the American stock exchanges. As a platform China is interesting enough because of an arrangement and potential quantity of emitters. There are still questions of the legislation, its liberalization and opennesses for the world markets, but there are no other basic obstacles, except institutional.China has been the preferred destination for emerging market investors for many years now. However, this year Chinese equities have not performed well. The Shanghai Composite Index fell 27% in the first six months. Despite Chinese stocks rallying in recent weeks, the index is still down 19.5% year-to-date. In terms of performance over a ten year period, many other countries have easily beat China.The chart below shows the performance of MSCI Russia vs. MSCI China over 10 years:Picture 1 - MSCI Russia vs. MSCI China over 10 yearsHence Russian equities have performed better than Chinese equities over a decade.Merrill Lynch projects that significant investment in Russia by 2020 is required to update and modernize the grid. With industrial consumers accounting for 85 percent of electrical consumption, keeping the power up and running is essential to maintaining Russia's industrial production levels.To finance the much needed infrastructure improvements, the Russian government created the $420 billion Federal Target Program (FTP). The FTP focuses on key transportation areas such as rails, autos, marine and civil aviation.Picture 2 – Russia’s federal target program 2011-2015The FTP has specific goals to meet by 2015 such as increasing the percentage of roads that meet federal standards by 23 percent. The plan also calls for a 47 percent increase in the shipment of goods and a 40 percent increase in airline penetration through improvements of aviation infrastructure.

Список литературы

1.Zaharov A. Russia needs long term stock market development program//Izvestia, 19.04.2008
2.Gorelov N. Chiness stock market//http://www.xelius.ru/tradersbook/82-worldmarket/336-2010-09-21-18-00-17.html
3.Tanas O. Chine blow markets/Gazete, 8.09.10
4.Barhatov I.V. Stock market in changing Russian economy// Vestnik of Chelyabinsk state university. – 2009. – № 1
5.Chinese dessiatine is expected in Russia//www.ng.ru
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