Research On QF?s' Shareholding Option And Impacts On China A-stock Market

In order to develop the capital markets in the 1970s,the developed countries?regions) firstly began to open door to the outside world.Until 1980s,their economic and financial system gradually became mature,effectively raise funds through the existing channels and complete the operation of the system within the operation.However,some emerging countries and regions have been lately start economy development,the institutional mechanisms are not perfect and the capital projects are not fully liberalized.Only through the system of qualified foreign institutional investor can we complete the goal of increasing the supply of funds in the local market,and strengthen contact with the outside world and then realize globalization.In reference to successful experiences of other successful countries and regions,China began to implement QF?.QF? in China's A-share market not only meet the needs of the supply of funds,but also fulfill the accession that capital market open to other countries?regions) when we join WTO.Mostly important,at that time the volatility of the market is very high,Western mature concepts focus on long-term value investment.This is helpful to reduce market volatility,to change investor structure that personal investors are account for large percent and the investment philosophy that most person more focus on speculation.Putting forward a feasibility theory guide for implementation of QF? in the future.So,the research on QF? 's shareholding and its impact have theoretical and practical significance.The paper firstly show the research background,content and significance,research methods and the innovation points and shortcomings of article;the literature reviews about QF? in domestic and overseas countries?regions);making a study of the development of QF? at home and abroad.Taking examples of Taiwan and South Korea respectively introduce the specific measures,the development processes and the local impact of QF?.China's QF?are introduced in detail;After analysising the QF?s' shareholding option,the result are QF? prefer Blue Chip in main-board market,manufacturing and the industries of emerging industries with high-growth,QF? more willing to put funds into long-term holdings;through the normative analysis and empirical analysis,the paper study the long and short impact of QF?.Lately,the paper points out the existing problems in the development of QF? in our country,and puts forward the following suggesstions:improve the quality of institutional investors and establish long-term investment philosophy;improve the information disclosure system of listed companies;adapt to the industrial structure of the development of listed companies;accelerate the innovation of financial products;strengthen market supervision.