Show us your money. That is the message China is sending to overseas investors this week as its financial officials pound the pavement to entice funds to its stock markets. Only two years ago they were turning those investors away. But things are different now. When western markets started their great recovery in March 2009, China’s markets were already halfway through their post Lehman-crisis rally. They peaked too soon: since August 2009 the Shanghai Composite has lost 40 per cent. The S&P 500 has gained 45 per cent.
把錢掏出來——這是中國本週向海外投資者發出的資訊。中國的金融官員正在大力吸引海外投資者投資A股。而就在兩年前，他們還在拒絕這些投資者。如今，情況已截然不同。當西方股市在2009年3月開始「大回升」時，中國股市在雷曼(Lehman)危機後出現的回升已經走完了一半——它們見頂得太早了：自2009年8月以來，上證綜指已下跌了40%，標普500指數則上漲了45%。
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