现代经济体并不是围绕着集中制造的好处来建设城市，而是围绕人力资本的集中程度来建设城市。
Modern economies don't build cities around the benefits of concentrated manufacturing; they build them around concentrations of human capital.
这种溢价来源于中国的资本控制，这种控制造成大量股市流动性集中在沪深股市中。
The premiums stem from China's capital controls, which trap a lot of stock-investing liquidity within the Shanghai and Shenzhen markets.
此外，由于更多的合约集中清算他们还能享有一些资本释放，释放那些场外交易的缓冲资本。
Moreover, they will enjoy some capital relief as more contracts are cleared centrally, freeing some of the buffer needed to back over-the-counter trades.
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