《人民幣國際化的新進展：香港交易所的離岸金融產品創新（中英對照）》

《債券通：中國債券市場國際化的新戰略（中英對照）》

《互聯互通與香港新經濟融資創新》

《全球大宗商品市場 : 從現貨到期貨》 

作者： 巴曙松 BA Shusong

出版社：商務印書館(香港)有限公司

出版日期：2018-11-23、2019-05-31、2019-10-17、2019-10-17

ISBN：9789620766053、9789620766220、9789620766343、9789620766404

裝訂：精裝、精裝、平裝、精裝

語種：中文繁體/英文

頁數：688頁、738頁、644頁、624頁

出版地：中国香港

本書分類：商業理財> 經濟／趨勢> 全球經濟

本書分類：商業理財> 經濟／趨勢> 貨幣

（页面参数仅供参考，具体以实物为准）

《人民幣國際化的新進展：香港交易所的離岸金融產品創新（中英對照）》

全球經濟金融體系正經歷又一輪大規模劇烈變化，一方面，中國在越來越深入地融入到全球金融體系中；與此同時，全球金融體系與中國市場的互動也日益頻繁。在這個過程中，香港作為國際金融中心，在「連接中國與世界」方面，將繼續發揮獨特的樞紐作用。

香港交易所近年來積極推動產品創新，這本以香港人民幣離岸產品為主題的研究報告集，正是港交所近年來一系列產品創新的跟蹤研究的成果，嘗試把握國際視角和中國需求，集中探討了近年來香港交易所在股票、定息產品及貨幣、大宗商品等各個範疇開拓人民幣產品的最新進展，以及推動落實打造人民幣離岸產品中心的市場目標，為讀者展現了人民幣離岸產品發展的演進歷程，有助於引發讀者思考香港離岸金融創新在推動人民幣國際化和金融深化中所扮演的獨特角色和積極意義。

Today’s global economic and financial systems are in the midst of another round of large-scale drastic changes. China’s integration with global finance is deepening. Interactions between global finance and the Chinese market are becoming frequent. In the process, Hong Kong, as an IFC, continues to play a unique pivotal role connecting China with the rest of the world.

HKEX has been actively promoting product innovation in Hong Kong in recent years. This book, a collection of research reports on renminbi offshore products in Hong Kong, is the product of a series of studies HKEX has conducted on its latest product innovations. It attempts to explore, from an international perspective and from the angle of China’s demands, the latest developments of HKEX’s renminbi products in asset classes ranging from stocks, fixed income and currency products to commodities, and the objective of building a renminbi offshore product centre in Hong Kong. It presents to readers the evolution of renminbi offshore products, and inspires readers to think about the unique role and significance of Hong Kong’s offshore financial innovations in the renminbi’s internationalisation process and in the deepening of the financial systems.

《債券通：中國債券市場國際化的新戰略（中英對照）》

本書是第一本由具體參與「債券通」方案設計、實施與監管的專家和海內外債券市場上有代表性的參與機構共同執筆，系統梳理「債券通」發展歷程與制度框架的中、英雙語著作。本書對「債券通」在中國債券市場開放和人民幣國際化中的定位、功能和角色進行了全景式論述，涵蓋了從政策開放路徑、具體實施策略、債券金融生態圈建設等多個角度，特別結合了「債券通」運行後來自市場的第一手經驗和見解，既是對多年中國債券市場雙向開放政策的階段性總結，更說明了「債券通」模式的構想和設計方案的有效性經過了市場實踐的驗證，從而佐證了「互聯互通」機制在連接境內外金融市場轉換器、以創新方式推動中國金融市場開放的獨特價值。

This book is the first bilingual and systematic collection of articles on the development of Bond Connect and its institutional framework that are contributed by experts who design, implement and regulate Bond Connect, and by representative participants of the Mainland and overseas bond markets. It presents a complete picture of Bond Connect’s positioning, roles and functions in the opening up of the Mainland bond market and the RMB’s internationalisation, covering policy pathways, implementation strategies, ecosystems and other angles including in particular first-hand market experience and insights after the scheme’s launch. In addition to summing up the two-way opening-up policy of the Mainland bond market over the years, this book illustrates how actual market practice has proved the effectiveness of the concept and design of Bond Connect, and hence the unique value of the mutual market access programme which bridges the Mainland and overseas financial markets and opens up the former in an innovative fashion.

《互聯互通與香港新經濟融資創新》

國際金融環境動蕩，以「滬港通」、「深港通」和「債券通」為代表的互聯互通機制，奠定了香港連接東西的獨特金融樞紐地位，也為中國資本市場的對外開放探索出一條新路徑。

全球經濟結構面臨轉型，香港在新經濟融資創新方面不斷探索，積累了亞洲時區可供參考的經驗，促進香港市場逐步形成圍繞新經濟企業的新生態圈，為參與「互聯互通」的海內外投資者提供了新的標的。

本書是市場上第一本深入闡述香港與內地的互聯互通和新經濟融資創新的中、英雙語著作，由在相關領域具有豐富業務經驗的專業人士和研究力量，圍繞近年來促進香港和內地金融業開放創新的最關鍵動能：「互聯互通」、「新經濟融資」、「全球資產配置」展開深入討論，系統梳理互聯互通的獨特設計理念，總結香港交易所新經濟融資的改革探索經驗，為市場參與者更好地把握「互聯互通」和新上市制度改革帶來的制度紅利，提供系統的專業研究支持。

Amid the global financial turbulence, the Mutual Market Access (MMA) programme, comprising the Shanghai Connect, the Shenzhen Connect and the Bond Connect, has solidified Hong Kong’s status as a unique financial hub connecting the East and the West and, in this process, has explored a new path for the opening-up of China’s capital market. 

In the face of economic structural changes across the globe, Hong Kong seeks to look into innovations in financing the new economy, and has built up experiences for reference in the Asian time zone. Hong Kong is gradually establishing a new ecosystem around new-economy enterprises and has made them new targets of investment for both Mainland and overseas investors trading under MMA. 

This book is the first bilingual title in the market that explains in detail the MMA model between Hong Kong and Mainland China and innovations in new-economy financing, in which experts and research teams who are experienced in these areas discuss in-depth on the key functional drivers of innovations in Hong Kong and the Mainland, including the “MMA”, “new-economy financing” and “global asset allocation”. Elaborating the unique concepts of the MMA model and summarising what HKEX has learned in its reforms in new-economy financing, this book shall come in handy for market participants to make better use of the MMA model and benefit from the latest reforms of Hong Kong’s listing regime.

《全球大宗商品市場 : 從現貨到期貨》 

想深入了解全球大宗商品市場的格局及發展機遇，此書必然是首選！

大宗商品市場在全球經濟活動中的地位牽一髮而動全身，與實體經濟的關係愈來愈密切。從趨勢看，中國內地大宗商品和其衍生品市場在全球的影響力持續提升，其對外開放程度也穩步提高。

本書是市場上第一本把大宗商品現貨與期貨市場融合分析，同時梳理全球與中國大宗商品市場發展脈絡、探討多渠道推進中國大宗商品市場開放的中、英雙語著作，由在相關領域具有豐富業務經驗的專業人士，圍繞三大主題：「全球大宗商品市場的格局」、「內地與香港大宗商品市場的演變」、「大宗商品現貨與期貨市場的互聯互通」作了深入分析，讓市場參與者對整個大宗商品市場的宏觀系統和金融生態圈獲得整體的認識，更好地促進大宗商品現貨與期貨交易良性互動，服務實體經濟。

The commodities market is now so closely linked to the global economy that a small change in the former will trigger the butterfly effect on the latter. We can see a trend of continuous increase in the global influence of Mainland China’s commodities physical and derivative markets, and the increasing opening-up of the Mainland markets. 

This book is the first bilingual title in the market that gives an integrated analysis of the commodities spot and futures market and the development of the global and Mainland commodities markets, and explores the multiple ways for advancing the opening-up of the Mainland commodities market. Experts who are experienced in these areas discuss in-depth on three key themes — the “global landscape of the commodities market”, “the Mainland and Hong Kong commodities markets” and “commodities spot and futures market connectivity”. This book depicts to market participants the big picture of the macro system and financial ecosystem of the entire commodities market, facilitating beneficial interactions between the commodities spot and futures markets to better serve the real economy.

作者簡介

巴曙松(BA Shusong)，香港交易及結算所有限公司首席中國經濟學家、中國銀行業協會首席經濟學家、金融學教授、博士生導師

Chief China Economist, Hong Kong Exchanges and Clearing Limited; Chief Economist, China Banking Association; Professor in Finance; Ph.D Tutor