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Starting from the "First Share" of New China——Celebrating the 70th Anniversary of the Founding of the People's Republic of China

2019-12-27 11:09:08 | Source: Xinhuanet

Introduction : The CCP Current Affairs Politics Channel updates domestic and international current affairs political hotspots, and provides current affairs political hotspots, current political simulation questions, current affairs memorabilia and summary of current affairs political hotspots. Today we focus on- starting from the "first share" of New China-a large-scale achievement exhibition celebrating the 70th anniversary of the founding of the People's Republic of China, showing the pace of development of the capital market of the Republic.

Xinhua News Agency reporters Pan Qing and Xu Sheng

In 1984, Feile Audio publicly issued stocks, the Shanghai Stock Exchange was established in 1990, and the Shanghai-Hong Kong Stock Connect was officially launched in 2014. The large-scale achievement exhibition celebrating the 70th anniversary of the founding of the People's Republic of China in Beijing showed the development of the capital market of the Republic pace of.

In the 1984 exhibition area, a piece of paper that looked like a banknote and printed "Shanghai Feile Audio Co., Ltd." occupied a corner. In November of that year, Shanghai Feile Audio Co., Ltd. issued 10,000 shares at a price of 50 yuan per share, becoming the first publicly issued stock in New China.

Two years after the public offering of shares, Deng Xiaoping presented Feile Audio's stock to John Fanerlin, then chairman of the New York Stock Exchange. This piece of paper made the international community exclaim "China shakes hands with the stock market".

From this stock, China's capital market has developed rapidly, with many "high light moments."

On December 19, 1990, along the Huangpu River, the "old eight shares" including Feile Audio started the journey of the Chinese stock market to the second largest stock spot market with a market value of 1.234 billion yuan.

In 2003, the Qualified Foreign Institutional Investor (QFII) mechanism was officially launched, and the Chinese capital market began to accept the participation of international investors.

In April 2005, the pilot reform of the split-share structure reform was launched. The Chinese stock market, which had been plagued by "one big share", began to enter the "full circulation era."

In April 2010, the Shanghai and Shenzhen 300 stock index futures appeared on the China Financial Futures Exchange, and the Chinese financial derivatives market officially opened.

On November 17, 2014, the Shanghai-Hong Kong Stock Connect was officially launched, providing a model for the cross-border two-way opening of the capital market. Two years later, on December 5, 2016, the Shenzhen-Hong Kong Stock Connect opened.

At the end of June 2017, the scale of public fund assets exceeded 10 trillion yuan for the first time, marking the continued growth of institutional investors and becoming an indispensable force for participation in China's capital market.

On May 31, 2018, MSCI, the world's largest index company, included A shares in the MSCI Emerging Market Index and MSCI Global Index. In June of the following year, FTSE Russell, the world's second-largest index company, took the first step in "accommodating A."

On September 15, 2018, China allowed "qualified foreigners" to open A-share accounts, and the Chinese stock market began to welcome the joining of "foreign retail investors."

On October 24, 2018, the China-Europe International Exchange established in Frankfurt, Germany ushered in the landing of the first D-share Qingdao Haier, and the "new offshore blue-chip market" opened by China in Europe officially set sail.

In 2019, global investors are focusing on China again. China, which has long been among the "first squares" of the world's stock spot market, has created a brand-new "incremental" market for science and technology innovation companies, namely the science and technology innovation board.

From the debut of the concept of the science and technology board on November 5, 2018, to the first batch of 25 companies on July 22, 2019, they jointly sounded the opening of the market. The amazing "speed of science and technology board" reflects China's dependence on Innovation "drives the determination of economic transformation and upgrading.

As of December 24, the science and technology board has ushered in the debut of 68 science and technology enterprises, which are strategic emerging industries such as smart manufacturing, biomedicine, and new-generation information technology. In addition, a large number of science and technology enterprises are in the "sprint" process.

This brand-new market has not only become the "fulcrum" for the capital market to spur technological innovation, but also bears the mission of a series of system innovations such as the pilot registration system of the Chinese capital market, and has become a valuable "test field" for the continued deepening reform of the Chinese capital market.

Walking among the many precious words and images of the achievement exhibition, it is not difficult to find that the capital market of New China has gone through a toddler's infancy and constantly explored adolescence, and is now entering a vibrant young age.

With the continuous expansion of the market size and the continuous deepening of a series of reforms, the future of China's capital market is even more worth looking forward to.

Source of information: http://www.xinhuanet.com/politics/2019-12/26/c_1125391896.htm

Author: Xinhua

Original Title: Starting from the "First Share" of New China-Celebrating the 70th Anniversary of the Founding of the People's Republic of China Large-scale Achievement Exhibition Demonstrates the Development of the Capital Market

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