It is tempting to try to find meaning in the so-called “A-share premium”. This is the persistent valuation gap between the shares of Chinese companies that trade in Shanghai or Shenzhen (known as A-shares) and the shares of the same companies that trade in Hong Kong (H shares).
弄明白所謂的“A股溢價”意味著什么，是一項很有誘惑力的工作。A股溢價指的是中國公司在上海或深圳上市的股票（A股）和同一家公司在香港上市的股票（H股）之間的長期估值差異。
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