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上海自貿區擴容加快落地預期升溫

事件:近日國家外匯管理局上海市分局印發《進一步推進中國(上海)自由貿易試驗區外匯管理改革試點實施細則(4.0版)》,推出簡政放權、貿易和投資便利化、總部經濟發展、離岸金融服務四大外匯改革措施。上海市市長也提到增設上海自貿試驗區新片區。目前新片區總體方案已經擬定,正按程序報批。

點評:與歐美發達國家相比,目前中國的自由貿易區,尤其是自由貿易港仍處于初期的探索階段。金融開放程度,金融體系架構、稅收、基礎設施、物流等配套產業還有待加和完善,國際型人才不足也有待解。我們預計,上海自貿區擴容方案一旦獲批,上海將積極配合國家有關部門制定相關配套措施幷加以實施,儘快取得有顯示度和影響力的實際成效。在投資經營便利、貨物自由進出、資金流動便利、運輸高度開放、人員自由執業、信息快捷聯通等方面探索創新突破,後續配套政策有望持續超預期。我們認為首先受益的標的包括地產、交通運輸、金融服務行業。我們推薦港股通標的上港集團(600018.CH),上海臨港(600848.CH),上海機場(600009.CH)。

撰稿: 章晶研究分析員
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