{"id":29981,"date":"2023-12-07T08:50:58","date_gmt":"2023-12-07T08:50:58","guid":{"rendered":"https:\/\/masterskills.org\/blog\/co-phieu-trung-quoc-loai-a-china-a-shares-la-gi-phan-biet-co-phieu-a-voi-co-phieu-b.html"},"modified":"2023-12-07T08:50:58","modified_gmt":"2023-12-07T08:50:58","slug":"co-phieu-trung-quoc-loai-a-china-a-shares-la-gi-phan-biet-co-phieu-a-voi-co-phieu-b","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/co-phieu-trung-quoc-loai-a-china-a-shares-la-gi-phan-biet-co-phieu-a-voi-co-phieu-b.html","title":{"rendered":"C\u1ed5 phi\u1ebfu Trung Qu\u1ed1c lo\u1ea1i A (China A-Shares) l\u00e0 g\u00ec? Ph\u00e2n bi\u1ec7t c\u1ed5 phi\u1ebfu A v\u1edbi c\u1ed5 phi\u1ebfu B"},"content":{"rendered":"
\n
\n
\"C\u1ed5<\/div>
\n

(H\u00ecnh minh h\u1ecda: Caixin Global)<\/p>\n<\/figcaption><\/figure>\n

C\u1ed5 phi\u1ebfu Trung Qu\u1ed1c lo\u1ea1i A<\/font><\/h2>\n

Kh\u00e1i ni\u1ec7m<\/b><\/p>\n

C\u1ed5 phi\u1ebfu Trung Qu\u1ed1c lo\u1ea1i A<\/b> trong ti\u1ebfng Anh l\u00e0 China A-Shares.<\/b><\/p>\n

C\u1ed5 phi\u1ebfu Trung Qu\u1ed1c lo\u1ea1i A<\/b> (g\u1ecdi t\u1eaft l\u00e0 c\u1ed5 phi\u1ebfu A<\/b>) l\u00e0 c\u1ed5 phi\u1ebfu ch\u1ee9ng kho\u00e1n c\u1ee7a c\u00e1c c\u00f4ng ty c\u00f3 tr\u1ee5 s\u1edf t\u1ea1i Trung Qu\u1ed1c \u0111\u1ea1i l\u1ee5c, giao d\u1ecbch tr\u00ean hai S\u00e0n ch\u1ee9ng kho\u00e1n Trung Qu\u1ed1c l\u00e0 S\u00e0n giao d\u1ecbch ch\u1ee9ng kho\u00e1n Th\u01b0\u1ee3ng H\u1ea3i (SSE) v\u00e0 S\u00e0n giao d\u1ecbch ch\u1ee9ng kho\u00e1n Th\u00e2m Quy\u1ebfn.\u00a0<\/p>\n

Trong qu\u00e1 kh\u1ee9, c\u1ed5 phi\u1ebfu ch\u1ec9 mua \u0111\u01b0\u1ee3c b\u1edfi c\u00f4ng d\u00e2n \u0111\u1ea1i l\u1ee5c do nh\u1eefng h\u1ea1n ch\u1ebf c\u1ee7a Trung Qu\u1ed1c \u0111\u1ed1i v\u1edbi \u0111\u1ea7u t\u01b0 n\u01b0\u1edbc ngo\u00e0i. Tuy nhi\u00ean, k\u1ec3 t\u1eeb n\u0103m 2003, c\u00e1c t\u1ed5 ch\u1ee9c n\u01b0\u1edbc ngo\u00e0i \u0111\u01b0\u1ee3c ch\u1ecdn \u0111\u00e3 c\u00f3 th\u1ec3 mua c\u00e1c c\u1ed5 phi\u1ebfu n\u00e0y th\u00f4ng qua h\u1ec7 th\u1ed1ng \u0110\u1ea7u t\u01b0 t\u1ed5 ch\u1ee9c n\u01b0\u1edbc ngo\u00e0i \u0111\u1ee7 n\u0103ng l\u1ef1c (QFII).<\/p>\n

\u0110\u01b0\u1ee3c th\u00e0nh l\u1eadp v\u00e0o n\u0103m 2002, ch\u01b0\u01a1ng tr\u00ecnh QFII cho ph\u00e9p c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 qu\u1ed1c t\u1ebf \u0111\u01b0\u1ee3c c\u1ea5p ph\u00e9p mua v\u00e0 b\u00e1n tr\u00ean c\u00e1c s\u00e0n giao d\u1ecbch ch\u1ee9ng kho\u00e1n c\u1ee7a Trung Qu\u1ed1c \u0111\u1ea1i l\u1ee5c.<\/p>\n

C\u1ed5 phi\u1ebfu A c\u00f2n \u0111\u01b0\u1ee3c g\u1ecdi l\u00e0 c\u1ed5 phi\u1ebfu trong n\u01b0\u1edbc v\u00ec n\u00f3 s\u1eed d\u1ee5ng \u0111\u1ed3ng\u00a0Nh\u00e2n d\u00e2n t\u1ec7 Trung Qu\u1ed1c\u00a0(RMB) \u0111\u1ec3 \u0111\u1ecbnh gi\u00e1.\u00a0<\/p>\n

Ph\u00e2n bi\u1ec7t c\u1ed5 phi\u1ebfu Trung Qu\u1ed1c lo\u1ea1i A v\u00e0 c\u1ed5 phi\u1ebfu Trung Qu\u1ed1c lo\u1ea1i B<\/font><\/h3>\n

C\u1ed5 phi\u1ebfu Trung Qu\u1ed1c lo\u1ea1i A kh\u00e1c v\u1edbi\u00a0<\/i>c\u1ed5 phi\u1ebfu Trung Qu\u1ed1c lo\u1ea1i B<\/i>\u00a0(c\u1ed5 phi\u1ebfu B).<\/i><\/p>\n

C\u1ed5 phi\u1ebfu A ch\u1ec9 \u0111\u01b0\u1ee3c ni\u00eam y\u1ebft b\u1eb1ng Nh\u00e2n d\u00e2n t\u1ec7, trong khi c\u1ed5 phi\u1ebfu B \u0111\u01b0\u1ee3c ni\u00eam y\u1ebft b\u1eb1ng ngo\u1ea1i t\u1ec7, v\u00ed d\u1ee5 nh\u01b0 \u0111\u00f4 la M\u1ef9, v\u00e0 \u0111\u1ed9 kh\u1ea3 d\u1ee5ng r\u1ed9ng r\u00e3i h\u01a1n cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 n\u01b0\u1edbc ngo\u00e0i.\u00a0<\/p>\n

C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 n\u01b0\u1edbc ngo\u00e0i c\u00f3 th\u1ec3 g\u1eb7p kh\u00f3 kh\u0103n khi ti\u1ebfp c\u1eadn v\u1edbi c\u1ed5 phi\u1ebfu A v\u00ec c\u00e1c qui \u0111\u1ecbnh c\u1ee7a ch\u00ednh ph\u1ee7 Trung Qu\u1ed1c. Ng\u01b0\u1ee3c l\u1ea1i, c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 Trung Qu\u1ed1c c\u00f3 th\u1ec3 g\u1eb7p kh\u00f3 kh\u0103n khi ti\u1ebfp c\u1eadn v\u1edbi c\u1ed5 phi\u1ebfu B, \u0111\u1eb7c bi\u1ec7t nh\u1ea5t l\u00e0 v\u00ec l\u00ed do trao \u0111\u1ed5i ngo\u1ea1i t\u1ec7. M\u1ed9t s\u1ed1 c\u00f4ng ty l\u1ef1a ch\u1ecdn \u0111\u1ec3 c\u1ed5 phi\u1ebfu c\u1ee7a h\u1ecd \u0111\u01b0\u1ee3c ni\u00eam y\u1ebft tr\u00ean c\u1ea3 th\u1ecb tr\u01b0\u1eddng c\u1ed5 phi\u1ebfu A v\u00e0 c\u1ed5 phi\u1ebfu B.\u00a0<\/p>\n

Do kh\u1ea3 n\u0103ng ti\u1ebfp c\u1eadn h\u1ea1n ch\u1ebf c\u1ee7a c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 Trung Qu\u1ed1c v\u00e0o c\u1ed5 phi\u1ebfu B, c\u1ed5 phi\u1ebfu c\u1ee7a c\u00f9ng m\u1ed9t c\u00f4ng ty th\u01b0\u1eddng giao d\u1ecbch \u1edf m\u1ee9c \u0111\u1ecbnh gi\u00e1 cao h\u01a1n nhi\u1ec1u tr\u00ean th\u1ecb tr\u01b0\u1eddng c\u1ed5 phi\u1ebfu A so v\u1edbi th\u1ecb tr\u01b0\u1eddng c\u1ed5 phi\u1ebfu B. M\u1eb7c d\u00f9 c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 hi\u1ec7n c\u00f3 th\u1ec3 \u0111\u1ea7u t\u01b0 v\u00e0o c\u1ed5 phi\u1ebfu A, nh\u01b0ng c\u00f3 gi\u1edbi h\u1ea1n 20% h\u00e0ng th\u00e1ng \u0111\u1ed1i v\u1edbi vi\u1ec7c chuy\u1ec3n v\u1ed1n v\u1ec1 n\u01b0\u1edbc trong \u0111\u1ea7u t\u01b0 n\u01b0\u1edbc ngo\u00e0i.\u00a0<\/p>\n

S\u00e0n giao d\u1ecbch ch\u1ee9ng kho\u00e1n Th\u01b0\u1ee3ng H\u1ea3i (SSE) c\u00f4ng b\u1ed1 ch\u1ec9 s\u1ed1 hi\u1ec7u su\u1ea5t ch\u00ednh cho c\u1ed5 phi\u1ebfu A \u0111\u01b0\u1ee3c g\u1ecdi l\u00e0 Ch\u1ec9 s\u1ed1 SSE 180. Khi th\u00e0nh l\u1eadp ch\u1ec9 s\u1ed1, s\u00e0n giao d\u1ecbch ch\u1ecdn 180 c\u1ed5 phi\u1ebfu \u0111\u01b0\u1ee3c li\u1ec7t k\u00ea tr\u00ean SSE. Vi\u1ec7c l\u1ef1a ch\u1ecdn l\u00e0 \u0111a d\u1ea1ng gi\u1eefa ng\u00e0nh, qui m\u00f4 v\u00e0 thanh kho\u1ea3n \u0111\u1ec3 \u0111\u1ea3m b\u1ea3o s\u1ef1 \u0111\u1ea1i di\u1ec7n \u0111\u1ea7y \u0111\u1ee7. Do \u0111\u00f3, \u0111i\u1ec3m chu\u1ea9n hi\u1ec7u su\u1ea5t c\u1ee7a ch\u1ec9 s\u1ed1 ph\u1ea3n \u00e1nh t\u00ecnh h\u00ecnh v\u00e0 ho\u1ea1t \u0111\u1ed9ng chung c\u1ee7a th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Th\u01b0\u1ee3ng H\u1ea3i.\u00a0<\/p>\n

K\u1ec3 t\u1eeb khi th\u00e0nh l\u1eadp v\u00e0o n\u0103m 1990, k\u00e8m theo m\u1ed9t cu\u1ed9c c\u1ea3i c\u00e1ch l\u1edbn v\u00e0o n\u0103m 2002, ch\u1ec9 s\u1ed1 n\u00e0y \u0111\u00e3 c\u00f3 nh\u1eefng bi\u1ebfn \u0111\u1ed9ng l\u1edbn. Tuy nhi\u00ean, n\u00f3 \u0111\u00e3 ph\u00e1t tri\u1ec3n c\u00f9ng v\u1edbi n\u1ec1n kinh t\u1ebf Trung Qu\u1ed1c. N\u0103m 2015 \u0111\u1ebfn 2016 l\u00e0 giai \u0111o\u1ea1n \u0111\u1eb7c bi\u1ec7t kh\u00f3 kh\u0103n, v\u1edbi hi\u1ec7u su\u1ea5t 52 tu\u1ea7n l\u00e0 -21,55%, t\u00ednh \u0111\u1ebfn ng\u00e0y 20\/7\/2016.<\/p>\n

T\u01b0\u01a1ng lai c\u1ee7a c\u1ed5 phi\u1ebfu Trung Qu\u1ed1c lo\u1ea1i A tr\u00ean th\u1ecb tr\u01b0\u1eddng th\u1ebf gi\u1edbi<\/font><\/h3>\n

Khi Trung Qu\u1ed1c ph\u00e1t tri\u1ec3n t\u1eeb m\u1ed9t th\u1ecb tr\u01b0\u1eddng m\u1edbi n\u1ed5i sang m\u1ed9t n\u1ec1n kinh t\u1ebf ph\u00e1t tri\u1ec3n, c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u00e3 c\u00f3 nhu c\u1ea7u \u0111\u00e1ng k\u1ec3 \u0111\u1ed1i v\u1edbi v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu c\u1ee7a Trung Qu\u1ed1c. C\u00e1c nh\u00e0 qu\u1ea3n l\u00ed s\u00e0n giao d\u1ecbch ch\u1ee9ng kho\u00e1n ti\u1ebfp t\u1ee5c n\u1ed7 l\u1ef1c \u0111\u1ec3 c\u1ed5 phi\u1ebfu A c\u00f3 \u0111\u1ed9 kh\u1ea3 d\u1ee5ng r\u1ed9ng r\u00e3i h\u01a1n cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 n\u01b0\u1edbc ngo\u00e0i v\u00e0 \u0111\u01b0\u1ee3c c\u1ed9ng \u0111\u1ed3ng \u0111\u1ea7u t\u01b0 to\u00e0n c\u1ea7u c\u00f4ng nh\u1eadn.\u00a0<\/p>\n

V\u00e0o th\u00e1ng 6\/,\u00a0Ch\u1ec9 s\u1ed1 th\u1ecb tr\u01b0\u1eddng m\u1edbi n\u1ed5i c\u1ee7a\u00a0MSCI\u00a0\u0111\u00e3 c\u00f4ng b\u1ed1 k\u1ebf ho\u1ea1ch hai giai \u0111o\u1ea1n, trong \u0111\u00f3 s\u1ebd d\u1ea7n d\u1ea7n b\u1ed5 sung m\u1ed9t ph\u1ea7n c\u1ed5 phi\u1ebfu v\u1ed1n h\u00f3a l\u1edbn c\u1ee7a Trung Qu\u1ed1c.\u00a0V\u00e0o th\u00e1ng 5\/, ch\u1ec9 s\u1ed1 n\u00e0y b\u1eaft \u0111\u1ea7u \u0111\u01b0a v\u00e0o c\u1ed5 phi\u1ebfu Trung Qu\u1ed1c lo\u1ea1i A c\u00f3 v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng l\u1edbn, chi\u1ebfm 5% ch\u1ec9 s\u1ed1. N\u1ebfu t\u00ednh t\u1ed5ng t\u1ea5t c\u1ea3 c\u1ed5 phi\u1ebfu A, n\u00f3 s\u1ebd chi\u1ebfm 40% ch\u1ec9 s\u1ed1.\u00a0<\/p>\n

\u0110i\u1ec1u quan tr\u1ecdng \u0111\u1ed1i v\u1edbi c\u00e1c qu\u1ed1c gia nh\u01b0 Trung Qu\u1ed1c l\u00e0 m\u1edf c\u1eeda th\u1ecb tr\u01b0\u1eddng cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 to\u00e0n c\u1ea7u \u0111\u1ec3 duy tr\u00ec t\u00ednh c\u1ea1nh tranh v\u00e0 ph\u00e1t tri\u1ec3n kinh t\u1ebf. C\u1ed5 phi\u1ebfu Trung Qu\u1ed1c lo\u1ea1i A cung c\u1ea5p m\u1ed9t kho\u1ea3n \u0111\u1ea7u t\u01b0 thay th\u1ebf cho nh\u1eefng ng\u01b0\u1eddi quan t\u00e2m \u0111\u1ebfn giao d\u1ecbch ch\u1ee9ng kho\u00e1n Trung Qu\u1ed1c.\u00a0<\/p>\n

(Theo Investopedia<\/i>)<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\n C\u1ed5 phi\u1ebfu Trung Qu\u1ed1c lo\u1ea1i A (ti\u1ebfng Anh: China A-Shares) l\u00e0 c\u1ed5 phi\u1ebfu ch\u1ee9ng kho\u00e1n c\u1ee7a c\u00e1c c\u00f4ng ty c\u00f3 tr\u1ee5 s\u1edf t\u1ea1i Trung Qu\u1ed1c \u0111\u1ea1i l\u1ee5c, giao d\u1ecbch tr\u00ean hai S\u00e0n ch\u1ee9ng kho\u00e1n Trung Qu\u1ed1c.\n <\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[417],"tags":[],"_links":{"self":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/29981"}],"collection":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/comments?post=29981"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/29981\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=29981"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=29981"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=29981"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}