人民币升值、对中国经济预期转变和第三轮量化宽松令热钱再度涌入香港，刺激港元对美元汇率突破7.75强方兑换保证上限。为维护联系汇率制度，香港金融管理局（下称“香港金管局”）在纽约交易时间上周五，以7.75港元兑1美元汇价，买入6.03亿美元即卖出46.7亿港元。这是该局自2009年12月以来首次入市干预港元汇率走势。有分析认为，此次热钱涌入香港来势较强，主要是预期内地经济将否极泰来，预计将对港股和已在巅峰的楼市形成刺激。

Appreciation of the RMB/China's economy is expected to change and third wheel quantitative easing make hot money into Hong Kong again,Stimulate Hong Kong dollar exchange rate for the dollar breakthrough 7.75 strong party convertibility undertaking limit.To maintain the linked exchange rate system,Hong Kong monetary authority(said"Hong Kong the hkma")In New York trading hours on Friday,Hk $7.75 to the dollar exchange rate,Buying $603 million that is sold 4.67 billion hk dollar.This is the bureau since December 2009 the market intervention for the first time since Hong Kong dollar exchange rate movements.Have analyzed that,The hot money into Hong Kong oncoming force strong,Mainly is expected the mainland economy will after a storm comes a calm,Is expected to stocks and has set up a file in the peak in the housing market formation stimulus.

　　香港金管局发言人昨日向《第一财经日报》回应称，港元需求有所增加，是与欧洲市场略为回稳，美元偏弱、美息下降，令资金流入区内货币和股市有关，其他亚洲货币也面对上升压力。在买入6.03亿美元后，香港银行体系总结余将在周三相应增至1533亿港元。该局将继续密切留意市况发展，按照货币发行局机制维持联系汇率稳定。

The hkma spokesman to Hong Kong yesterday[The first financial daily]Responded that,Hong Kong dollar demand has increased,With the European market recovered slightly,Weak dollar/Beauty rate decline,Make money flows into the currency and the stock market,Other Asian currencies also in the face of rising pressure.In buying 603 million dollars,Hong Kong bank system more than summarize Wednesday corresponding hk $153.3 billion.The council will continue to pay close attention to market development,According to the currency board mechanism to maintain the linked exchange rate stability.

　　按照1983年10月实施的港元与美元挂钩的联系汇率制度，港元汇率设定为7.8港元兑1美元。此后香港金管局采取按照既定汇率水平、被动买卖美元的兑换保证制度来控制货币基础，即在强方上限7.75港元买入美元，弱方上限7.85港元卖出美元，在此兑换范围内有1000个基点的汇率调整空间可供该局自由进行外汇市场和货币市场操作，以维护联系汇率制度。

According to the October 1983 implementation of the Hong Kong dollar and the dollar's linked exchange rate system,Hong Kong dollar exchange rate set to hk $7.8 to the dollar.Then take the hkma Hong Kong in accordance with established exchange rate level/Passive trading dollar exchange guarantee system to control the monetary base,That is in strong party upper limit of hk $7.75 buy dollars,Weak square cap sell the dollars hk $7.85,In this exchange range includes 1000 basis points rate adjustment space available for free on the foreign exchange market and money market operations,In order to maintain the linked exchange rate system.

　　第一上海证券首席策略分析师叶尚志告诉本报，此次热钱流入香港与2009年首轮量化宽松后的热钱涌入有些不同，此轮资金流入香港的积极性更强。预计香港金管局将在接下来两周内再度出手干预。

The first Shanghai securities chief strategy analyst YeShangZhi told this newspaper,The hot money inflows and Hong Kong in 2009 the first round of quantitative easing of hot money into some different,This round of capital into Hong Kong's enthusiasm is stronger.Hong Kong is expected to the hkma will be in the next two weeks out again intervention.

　　他称，2009年港汇走强主要是美元走弱，资金被动进入香港。但美元汇率指数目前处于过去5年来的中间位置，此次港元汇率的走强主要是投资者对人民币升值预期的再次出现，以及预期内地经济将触底后否极泰来。资金流入香港后将进入股市和楼市等港元资产区，对港股势必是好的信号，将形成正面效应。

He says,In 2009, the main port of stronger exchange is the weak American dollar,Capital passive into Hong Kong.But the dollar exchange rate index at present in the past five years of intermediate position,The Hong Kong dollar exchange rate going strong is mainly to the appreciation of the renminbi investors expected to appear again,And expected the mainland economy will touch bottom after a storm comes a calm.After Hong Kong capital inflows will enter the stock market and property market Hong Kong dollar assets such as area,For Hong Kong stocks will be is a good signal,Will form positive effect.

　　管理70亿美元资金的惠理基金主席谢清海近日对本报记者称，中国去库存化正在发生，相信中国经济将在2013年反弹，年底前便会看到大量资金入市。实际上，港元汇率近来一路走强，港股已在资金流入下连升7日，全日成交额也一度回复至久违的700亿港元水平。

Management of the 7 billion dollars in funds value partners chairman XieQingHai recently to our reporter said,China to stock change is occurring,Believe that the Chinese economy will rebound in 2013,By the end of the year will see a lot of funds to enter the market.In fact,Hong Kong dollar exchange rate the recent strong go all the way,Hong Kong stocks has set up a file in the capital inflows even under rise 7,Diurnal turnover once back to hk $70 billion level for a long time.

　　除进入港股和香港楼市外，热钱也将循道进入内地。今年9月人民币升值势头再现，吸引资金再度流入中国。根据中国人民银行上周五发布的数据，中国金融机构9月份外汇占款增加1306亿元人民币，已结束此前连续两月减少的局面，显示资金重新进入内地。

In addition to enter Hong Kong stocks and outside Hong Kong's property market,Hot money will also methodist enter the mainland.September this year the appreciation of the renminbi momentum reappearance,To attract funds into China again.According to the people's bank of China released last Friday by the city's data,China's financial institutions increased foreign exchange in September funding of 130.6 billion yuan RMB,Is over two months after continuous reduce situation,Display funds to enter the mainland.