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1、外文翻译原文QFIItoChina'ssecuritiesmarketinfluenceMaterialSource:OAlibraryAuthor:GrinblattMarkTheofficiallaunchofQFIIsystemwaspublicopinionthatfollowingtheendof1996inthecurrentRenminbifreelyconvertibleunderthecapitalmarketinChinasincetheopeningupanothermilestone.AsChina'scapitalmarketservices
2、toopenbythefirststeptowardsopeningupthecapital,theintroductionofQFIIsystemwillhelpChinaattractmoreforeigndirectinvestmentandthesustainedandstabledevelopment.FormallyjoinedtheWTOinaftertheintroductionofQFIIsystemproactivelytoattractforeigninstitutionalinvestorsintothecapitalmarketsandsha
3、rethefruitsofrapideconomicgrowthinChinaisconducivetofurtherattractforeigndirectinvestment.Atthesametime,QFIIwillpromotetheintroductionofforeigncapitalinflows,changethecurrenttrendofChina'ssecuritiesmarketdownturn.QFIIsystemopentoforeigninvestmentasthespecialaccessmarket,whichtoacountry(
4、region)capitalmarketisthemostdirectandmostobviousistheincrementalimpactofthecontinuedinflowoffunds.SouthKorea,IndiaandtheimplementationofQFIIsysteminTaiwanmorethantenyears,withanetinflowofforeigncapitallargelybecomeanimportantinstitutionalinvestorsinemergingmarkets.Taiwanfrom1983QFIIreg
5、imetolaunchatrialalmost20years,duringwhichQFIIfundsaccumulatednetimportof380billionU.S.dollars,foreignownershipofthetotalmarketaccountedformorethan6%,successfullyresolvedtheintroductionofforeigncapitalinTaiwanProvinceThebigproblem,sufficientcapitalinflows,tocultivatealargeTaiwaneseelect
6、ronicsindustrydevelopment;SouthKoreain1985,beforethestockmarketdownturn,theintroductionoftheQFIIsystem,fiveyearsaftertheKoreanstockmarketsoared5timesontheKoreancapitalmarketacceleratethedevelopmentandeconomic,haveplayedasignificantrole.QFIIsystemisemergingstockmarketsandinternationalfin
7、ancialmarketintegrationisaneffectivewaycanbecomparedtothestockmarketisthe"capitaloftheopenarea."China,ascountrieswitheconomiesintransition,theeconomyhasmaintainedsustainedandstablehighgrowthstate.In2003,China'sattractivenesstointernationalcapitalisgraduallyincreased,foreigndire
