To listen to the stockbrokers, it is a “pivotal moment”, a “major step forward” that will “bring Chinese equities into mainstream investment”. MSCI, the index provider, has decided to include mainland Chinese shares in its main global and emerging market benchmarks. The talk of a watershed is misguided, however. This is a test for Chinese stock markets, not a certification that they have met global standards or that future integration is assured, or even likely.
股票經紀人說，現在是“緊要關頭”，“向前邁出的重要一步”將“把中國股票帶入主流投資”。指數供應商MSCI明晟決定將A股納入其主要的全球和新興市場基準指數中。然而，有關這一結果成為A股分水嶺的討論是錯誤的。對中國股市來說，這是一場考驗，而不是認證其滿足全球標準、或其未來融入全球市場有保障（或者有這種可能性）的證書。
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