The Shanghai Stock Exchange (SSE) was founded on Nov. 25th,1990 and in operation on Dec.19th the same year. It is a non-profit-making membership institution directly governed by the China Securities Regulatory Commission(CSRC). The SSE bases its development on the principle of "legislation, supervision, self-regulation and standardization" to create a transparent, open, safe and efficient marketplace. The SSE endeavors to realize a variety of functions: providing marketplace and facilities for the securities trading; formulating business rules; accepting and arranging listings; organizing and monitoring securities trading; regulating members and listed companies; managing and disseminating market information.
After several years' operation, the SSE has become the most preeminent stock market in Mainland China in terms of number of listed companies, number of shares listed, total market value, tradable market value, securities turnover in value, stock turnover in value and the T-bond turnover in value. December 2007 ended with over 71.30 million investors and 860 listed companies. The total market capitalization of SSE hit RMB 26.98 trillion. In 2007, Capital raised from SSE market surpassed RMB 661.6 billion. A large number of companies from key industries, infrastructure and high-tech sectors have not only raised capital, but also improved their operation mechanism through listing on Shanghai stock market.
Entering the new century，SSE is faced with great opportunities as well as challenges to further boost the market construction and regulation. Combining the cutting-edge hardware facilities，favorable policy conditions in Pudong, exemplary role of Shanghai economy, SSE is fully committed to the goal of State-owned industrial enterprises reform and developing Shanghai into an international financial center with great confidence.
Originally Posted: China Business Daily
Author: Angulo Fu
Tuesday, November 25, 2008
Shanghai Stock Exchange was Founded
Monday, November 24, 2008
China and Pakistan Sign Free-Trade Deal
November 24, 2006, Chinese president, Hu Jintao has signed a free-trade deal with his Pakistani counterpart, General Pervez Musharraf, during ongoing talks in Islamabad. They signed a five-year pact to boost bilateral trade on Friday.
After a three-day trip to India, Hu Jintao travelled to Pakistan for a four-day visit and received a royal reception at his arrival. His visit to Pakistan is the first by a Chinese leader in a decade.
According to diplomats, the agreement could triple the value of bilateral trade within next five years, to $15bn.
Pakistani commerce minister, Humayoun Akhtar said that new trade pact would energize the efforts to cut tariffs. He added that the trade would be completely tariff-free between the two countries within next five years.
Both countries have agreed a number of new defence and energy deals. The Pakistan Air Force and Chinese Aviation Industries have agreed for long term collaboration in the fields of aircraft manufacturing including Airborne Warning And Control Systems (AWACS).
Originally Posted: China Business Daily
Author: Angulo Fu
Termination of Anti-dumping Measures on Imported Acrylate
On November 23, 2005, the Ministry of Commerce said that its imposition of anti-dumping duties on acrylate imports from Japan and the US has come to an end, as it had announced it would on June 1. This is the second time for China to end anti-dumping measures against imported products on the basis of World Trade Organization rules.
Provisional anti-dumping measures were implemented on November 23, 2000 against Japanese and US acrylate imports, meaning those with profit margins between 24 and 71 percent had to pay duties.
The concerns of three Chinese producers of acrylate, an industrial chemical raw material used to make plastic models and optical parts, jewelry, adhesives, paint and textile fibers, had prompted anti-dumping investigations.
In June 2001, the former Ministry of Foreign Trade and Economic Cooperation formalized the measures, giving them a five-year term in line with WTO rules.
Smaller companies, downstream in the industrial chain, supported the end of the measures for fear of higher prices and less choice in acrylate supplies.
Gong Beifan, secretary general of China Adhesives Industry Association, had said in September that the anti-dumping measures had caused 50 billion yuan (US$6.2 billion) losses for the adhesive industry.
Originally Posted: China Business Daily
Author: Angulo Fu
Splendid China Opened in Shenzhen
Splendid China opened in Shenzhen on November 22, 1989. Splendid China is a comprehensive miniature park reflecting the history, culture, art, ancient architecture, and customs and habits of various nationalities in China. It is one of the world's largest scenery parks in the amount of scenarios reproduced. The park is developed and managed by the major travel and tourist corporation, China Travel Services.
Splendid China is situated by the Shenzhen Bay in a tourist area of Oversea Chinese Town (OCT) in Shenzhen, Special Economic Zone of China. It is a 35-40 minute train ride from Lo Wu metro station (Line 1 of Shenzhen Metro), or 30 minutes by bus (bus number 101 or mini-bus 23 are two examples).
Over 100 major tourist attractions have been miniaturized and laid out according to the map of China. Most attractions have been reduced on a scale of 1:15. It is divided into Scenic Spot Area and Comprehensive Service Area. The entire park covers 30 hectares.
There are cars and trains to transport visitors around the park, making it possible to visit the Great Wall of China, Forbidden City, Temple of heaven, Three Gorges Dam, Potala Palace and the Terracotta Army in one day.
The park also hosts several shows depicting various events in Chinese History (e.g. a horse riding show depicting a battle led by Genghis Khan), Chinese Cultural Show, etc. Some of the shows are only performed on weekends.
Originally Posted: China Business Daily
Author: Angulo Fu
Posts
