has appeared from the first stock to more than 4,000 stocks in the two markets, from the first counter to more than 10,000 securities branches across the country, and now the total market value of A shares is about 72 trillion yuan, becoming the world's second largest stock market.
30-year-old A-shares have gone through the century-old road of others. We are all witnesses, witnesses and creators of this legend.
December 1, 1990
Shenzhen Stock Exchange began trial operation and officially opened on July 3, 1991. Which of the Shanghai Stock Exchange or the Shenzhen Stock Exchange is the first stock exchange in New China has become a unsolved case.
December 19, 1990
Shanghai Stock Exchange opened. In the early stages of the opening of the Shanghai Stock Exchange, only 8 listed companies listed stocks, commonly known as the "old eight-piece stock".
January 1992
Stock subscription certificates appeared in Shanghai and Shenzhen. A 30 yuan subscription certificate has 4 chances of drawing lots. Winners can use the money to buy stocks at the designated counter with the certificate.
October 1992
China Securities Regulatory Commission was established, marking the beginning of inclusion of China's capital market into the national unified regulatory framework, and the national market began to develop.
February 23, 1995
Short sellers represented by 1 Wanguo Securities and long sellers represented by China Economic Development and Development were betting on the 327 treasury bond futures contract. That night, the Shanghai Stock Exchange announced that there were serious violations in the last 8 minutes of transactions and the judgment was invalid. The "327 Treasury Bond Incident" directly led to the collapse of Wanguo Securities' , the general manager Guan Jinsheng's being imprisoned, the general manager of the Shanghai Stock Exchange Wei Wenyuan was dismissed, and the Shanghai Stock Exchange suffered a serious loss of 4 billion yuan. A trader named Chen Wanning lost 70 million yuan in this incident and left the securities market sadly. A few years later, he wrote "Wulin Wai Chuan" under the pseudonym of Ning Caishen.
March 27, 1998
Southern Fund , and Guotai Fund initiated the establishment of the first batch of closed-end funds in China - funds Kaiyuan and Jintai, marking the birth of the first batch of China's true investment funds, and this day also became the birthday of public funds. In an era when the per capita annual income was only 5,425 yuan, people flocked to securities companies and lined up to subscribe to funds. The subscription has frozen 161.6 billion yuan, but the winning rate is only 2%. It is said that the scene of that year is "much harder than Ma's Double Eleven."
December 29, 1998
" Securities Law of the People's Republic of China " was reviewed and approved, and officially implemented on July 1, 1999. On December 28, 2019, the new Securities Law was reviewed and approved and came into effect on March 1, 2020.
May 19, 1999
"519 market" exploded. From May 19, 1999 to June 12, 2001, the Shanghai Composite Index rose from 1047 points to 2245 points, and the bull market in two years exceeded double. "At that time, anyone who wanted to have a strong relationship with the dealer would immediately rise." When most market participants recalled the "519" market, they mentioned the term "dealer" that made the market intertwined love and hate.
October 2000
"Finance" magazine published the cover story "The Shame of Funds". At the end of 2000, the China Securities Regulatory Commission conducted a comprehensive inspection of fund companies, and found that 8 out of 10 companies had conducted "abnormal" trading operations. The detonation of the "bomb" of fund shady has pushed China's fund industry to the track of legal system, standardization and steady development.
September 11, 2001
The first open-end fund - Huaan Innovation Securities Investment Fund was born. It is said that "the team that purchased the first open-end fund even ranked from Bank of Communications to Industrial and Commercial Bank of China ".
July 9, 2003
QFII officially landed in the Chinese securities market, and UBS became the first QFII to invest in the domestic market in China. Since then, foreign capital, insurance and public offerings have gradually formed a "three-legged" situation in A-shares.
May 18, 2004
Shenzhen Stock Exchange established a small and medium-sized enterprise board. The SME Board opened on June 25, and the 8 stocks listed collectively were called "New Eight-Stock Stocks".
May 9, 2005
Equity split reform pilot was officially launched. Shang Fulin, then chairman of the China Securities Regulatory Commission, proposed that "there is no turning back when the bow is drawn." The reform of equity split has become the most direct fuse of the bull market from 2006 to 2007.
On October 16, 2007
Shanghai Composite Index reached the peak of the bull market of 6124.04 points. During this period, there was a phenomenon of national stock trading and savings moving.
November 5, 2007
Asia's most profitable company - China Petroleum landed on the A-share market with a high profile, opened at a "capped price" of 48.6 yuan, and immediately became the listed company with "the world's first market value". But after , China Petroleum was listed, it fell all the way and never returned to 48 yuan.
On May 12, 2008, the Wenchuan earthquake occurred in
. During this period, there was a wave of donations, and many listed companies had donated tens of millions of dollars. Wenchuan County The only securities management institution in the city - Hexing Securities Wenchuan Service Department set up a tent outlet.
On October 30, 2009
GEM opened, and the first batch of 28 stocks were issued together, setting a new historical record for the joint issuance of multiple stocks in the Chinese stock market.
March 31, 2010
margin trading pilot was launched. On April 16, 2010, stock index futures were listed.
September 6, 2010
Fund manager rat trading case was transferred to the public security organs for the first time. Fund manager Han Gang was detained for tracking and selling blue-chip stocks , which he managed his own funds, and set a precedent for the fund manager to be detained.
August 16, 2013
Shanghai Composite Index suddenly soared by 5.96%. After verification, Everbright Securities' proprietary strategic trading system had design flaws, causing abnormal market movements that day. This is the biggest misunderstanding in the A-share market so far.
November 17, 2014
Shanghai-Hong Kong Stock Connect was officially launched. On December 5, 2016, the Shenzhen-Hong Kong Stock Connect also officially set sail. The successive opening of the Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Connect further promotes the internationalization of the domestic securities market.
April 20, 2015
Shanghai Stock Exchange trading volume exceeded one trillion yuan, resulting in a system explosion, setting a record high in global exchanges history. Since the second half of 2014, the fourth bull market of A-shares has started, reaching a peak of 5178 points in June 2015.
June 15, 2015
From June 15 to July 8, the Shanghai Composite Index fell sharply by 32% in 17 trading days, causing market panic. The central bank then announced a rate cut and reserve requirement ratio cut, and state funds entered the market to save the market from July 9.
November 1, 2015
Xu Xiang was taken by the public security organs for suspected illegal crimes. On January 23, 2017, Xu Xiang was sentenced to five years and six months in prison for manipulating the securities market.
January 4, 2016
A shares index circuit breaker mechanism is enabled. On January 4 and January 7, A-shares experienced four circuit breakers in two days. On January 8, the index circuit breaker mechanism was suspended. During this period, A-shares experienced a scene of thousands of stocks hitting the limit down many times.
June 2017
The A-shares that hit the MSCI index for the fourth time finally succeeded, marking that A-shares have opened the door to the world. A year later, the world's second largest index company, FTSE Russell , announced that it would include A-shares in its global stock index system.
July 2018
Changsheng Bio's fake vaccine incident fermented. On November 16, the Shanghai and Shenzhen Stock Exchanges issued the "Implementation Measures for Forced Delisting of Major Illegals of Listed Companies", and the Shenzhen Stock Exchange announced the launch of a mechanism for compulsory delisting of major illegalities of Changsheng Bio.
July 22, 2019
The first batch of 25 Science and Technology Innovation Board stocks were listed and traded on the Shanghai Stock Exchange, and the Science and Technology Innovation Board officially opened.
August 24, 2020
GEM registration system The first batch of 18 new stocks were listed.
This article is from China Securities Journal
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