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1993年7月15日,青岛啤酒厂的股票在香港联合证券交易所挂牌上市发行。这就是标志着中国H种股票的诞生,它开创了中国大型国营企业真正踏上国际经济舞台的历史先河,在香港引起热烈反响,亦成为93年香港股坛的一大盛事与最大特色,其意义之重大不言而喻。本文拟对首批在港上市的H股作一初步探讨,以期窥出发行H股的前景,并总结出其中的经验教训。
July 15, 1993, Tsingtao Brewery shares listed on the Hong Kong Stock Exchange. This marks the birth of H shares in China. It created a precedent for China’s large state-owned enterprises to truly embark on the international economic arena. It has aroused warm repercussions in Hong Kong and has also become a major event and feature of Hong Kong’s stock market in 1993. Its Meaningful is self-evident. This article intends to conduct a preliminary study of the first H-shares listed in Hong Kong with a view to exploring the prospect of H-shares issuance and summarizing some of the lessons learned.