[Chapter 62] Talk about the history of new and old Shanghai securities trading

Zhu Mingyang was a scholar in economics and finance in his previous life. Later, he worked as a visiting scholar at Harvard. He has studied the history of financial securities in Western European countries and has a deeper research on the financial stock market in China.

The first stock trading institution of Chinese Business was the "Shanghai Pingjun Stock Company" established in 1882. In 1892, foreign investors first organized a tangible market in Shanghai, called "Shanghai Shareholding Office". In 1904, the Shanghai Stock Exchange was organized with a foreign agreement. It was officially opened the following year and named "Shanghai Zhongye Office". In 19), after Shanghai Shareholding Office was incorporated into Shanghai Zhongye Office, the institute implemented a member trading system, and only a few Chinese could participate, and the transaction targets were basically foreign merchant stocks.

The stocks of the company that were bought and sold in the guild in 1917 were: China Merchants, Commercial Press, Zhonghua Book Company, Renjihe, Nanyang Tobacco, Bank of China, Bank of Communications, Tongshang Bank, China Commercial Bank, etc., and of course, there were a large number of patriotic government bonds, railway securities and other transactions.

In 2019, the Shanghai Stock Commercial Association evolved into the Shanghai Huashang Stock Exchange. The capital founded by this exchange was not large at first, only 62,500 yuan, but its business foundation was particularly good. Twenty-five securities interbank institutions acted as brokers. In addition to spot trading, there are also futures for this month, next month, and three months. Our stocks can also be used as stocks. The capital will increase to three million yuan in the second year, and the brokers will increase from 25 to 75. The Shanghai Stock Exchange, Peking Stock Exchange, Tianjin Introduction and so on.

In 1937, the Anti-Japanese War broke out, and the institute announced its closure and was ordered to move to Hankou for business. The war was delayed and the business was not opened. After the victory of the War of Resistance Against Japan, the Shanghai Stock Exchange was established, with assets of 1 billion yuan and 234 brokers, mostly mainly stocks and bonds issued by domestic enterprises, and government-issued government bonds and securities issued by foreign investors in China, which were speculative and traded and made huge profits. In May 1949, on the eve of the Kuomintang's withdrawal from Shanghai, the stock exchange also announced its closure.

"Xiao Yangyang, you are really smart!" Tian Tian looked at Zhu Mingyang with admiration on her chin.

"That's right, otherwise, can I be your husband?" Zhu Mingyang said proudly and gently lifted Tian Tian's tender chin, "Wife, come, give me a smile."

"Hate, beat you! Little bad guy! Tell me quickly, you haven't finished talking yet?" Tian Tian patted Zhu Ming off and urged him.

In Zhu Mingyang's memory of his previous life, although the securities trading in Shenzhen was earlier than Shanghai, it was not approved by the central bank, and it was just a private equivalent securities trading between enterprises. After the reform and opening up, the real stock exchange was still the Shanghai Stock Exchange. It was established in November 1990 and officially opened in December. Speaking of which, it has been more than thirteen months. This is also because Zhu Mingyang asked Tian Tian to recruit talents in this area to the company as much as possible, in order to achieve great success when the Shanghai Stock Exchange is established next year.

He still remembers that the Shanghai Stock Exchange hit the first hammer of the official opening of the market. Half an hour later, at the close of the previous market, forty-nine orders had been sold, with a denomination of 5.87 million yuan. And when the domestic stock market was truly bullish, it was also after the chief designer's southern tour in 1992. On May 21, the Shanghai Stock Exchange stock prices were all relaxed and guided by the market. As a result, for three consecutive days from this day, the stock prices soared to the sky, 570%. This day was called the real birth of the Chinese stock market. In August of the same year, the Shenzhen Stock Exchange also experienced a stock purchase storm.

The start of the Shenzhen securities market should be traced back to 1986. At that time, some companies carried out joint-stock reforms in order to get rid of their business difficulties. On April 1, 1988, Shenzhen Development Bank began its earliest securities trading on the counter of the Special Administrative Region Securities Company.

In the same month, Shenzhen Guotou Securities Department and Bank of China Securities Department opened successively: Vanke, Jintian, Anda, Yuanye and other companies also issued stocks and traded on the counter. The "old five" stocks traded over the counter of the securities department of the "old three" became the prototype of the Shenzhen securities market.

"It seems that the historical heritage of securities trading in Shanghai is very long, and I also believe that the Shanghai Stock Exchange will definitely succeed. Although I am not a economics, I know that no enterprise does not reorganize assets or enters the market, and rely on the instructions or plans of the state or government to produce alone!" Tian Tian pondered for a moment after listening, "When I was studying for a doctorate at Harvard, I carefully studied Marx's "Das Kapital". No matter what capitalist society or socialist society, these are the differences between two political systems. Different political systems must have a common economic system, which is a market economy. Only by pushing enterprises to the market and letting the market choose enterprises can enterprises continue to develop and grow and innovate. All of this requires strong funds, which requires enterprises to enter the financial stock market for financing and obtain more funds to make enterprises bigger..."

"What I said is that in China, only reform and opening up is the hard truth. Different national conditions are different, and the paths taken by reform and opening up are also different. Of course, the favorable side of reform and opening up is to improve the development of the country's economy. The disadvantage is that some bad factors are mixed in, which leads to doubts about the thoughts of students in colleges and universities. Of course, this is also intentional by some people with ulterior motives!" Zhu Mingyang said with a smile, "The current students' thinking is relatively simple. They do not see the advantages brought by reform and opening up, but see too many of the most primitive and darker side of human nature brought by reform and opening up. Their thoughts are questioned in some ways. In addition, the push from some people with a heart will lead to such a situation. In fact, this is just a manifestation. The real factor is still human factors. Of course, these human factors are also caused by all aspects. The deepest level is politics. In order to achieve their respective political interests, there will be such thoughts..."

"Xiao Yangyang, some time ago, Mayor Zhu suggested that we invest in other industries! A few years ago, wasn't there a precedent for Volkswagen and SAIC to engage in joint ventures? Besides, wasn't Yangcheng in the southern province also negotiated joint ventures in Toyota in Japan?" Tian Tian also felt very reasonable after listening to Zhu Mingyang's analysis, but she still had other doubts in her heart.

"On the surface, it is a joint venture. If you think about it further, it is not difficult to find that there are still deep stories here!" Zhu Mingyang took a sip of water and said, "Both Germany and Japan are all from a purpose. First of all, China is the most populous country in the world. It is also a time of vigorous reform and opening up. It requires a large number of investors to create a lot of wealth for the country. Those people are just looking at these, cheap labor, rich resources, and political achievements urgently needed by the local government. Secondly, these countries are not investing in funds, but investing in technology. Are these technologies the most advanced at present? Foreign merchants are not fools. Their so-called latest technology is indeed very advanced in China, but for them, they are already backward technologies..."

"That's right, industries such as automobiles, electronics, and machinery involve a wide range of fields, and even Western countries have restrictions on certain technologies!" Although Tian Tian lived in the United States at a young age, studying and studying, she naturally had a very good understanding of the situation in the United States.

"Sister Tian Tian, ​​let's take Shanghai Volkswagen Co., Ltd. first. The Santana produced by German technology has lagged behind in terms of appearance, performance, etc., and then look at our latest Mercedes-Benz series cars. It is not difficult to see that Santana is the technology ten years ago. Just imagine that the German government will use such advanced technology to China? What they are interested in is the huge market of China, and it is profitable to use the technology that has long been eliminated in their country!"

"And what I want to invest in is my own industries such as automobiles, electronics, mechanics, etc. This is why I will not let outsiders use technology to control it..."

After hearing Zhu Mingyang's words, Tian Tian understood why Zhu Mingyang is not in a hurry to invest in these fields. It seems that China has not yet lifted the ban on some reforms. Once the ban is lifted, it will definitely be a big investment in these fields...

Zhu Mingyang originally wanted to stay in Shanghai for a while, but the plan always did not change quickly. News from Xia Mingqi came from Hong Kong, and Lin Mingqing and the other two quietly returned to Hong Kong! He also knew that this was the most critical moment of the decisive battle in the Japanese stock market. They must have to ask about the next specific implementation plan when they returned to Hong Kong!

Zhu Mingyang left a check of 10 billion US dollars for Tian Tian and Xiao Yumei. In fact, the main thing was to develop Sheshan after the New Year and negotiate with the government immediately to increase the 40-year land use period to 70 years. Otherwise, there would be no negotiations. Of course, there would be land for the construction of the automobile city in Shanghai...

After everything was arranged, Zhu Mingyang quietly left that night...

Fifteen hours later, the car drove into the Luohu Pass in Shenzhen. During these fifteen or sixteen hours, Zhu Mingyang kept his eyes closed, but he had never slept, and he kept thinking about the Nikkei Index in his mind...

Although the interior space of the Mercedes-Benz is very large, for Zhu Mingyang, who is now over 1.70 meters tall, sleeping in the back seat is still too narrow, and he can't even stretch his legs and feet straight. It is naturally extremely uncomfortable to sleep, so he decided to change the car!

I have been riding this car for a while. With his current financial resources, it is a piece of cake to change to any car. Isn’t a person who lives in this world just to enjoy it in his lifetime? Besides, what kind of person is Zhu Mingyang? A person who has been reborn from the 21st century will naturally know the true meaning of enjoyment.

"Brother Tang! There are no other bulletproof customizations in the world at present?" Zhu Mingyang asked. To be honest, he didn't know much about cars, but Tang Yunshan and the others knew very well.

Tang Yunshan was slightly stunned, as if he didn't react, but immediately said: "Yes, there are, but it's just..."

Tang Yunshan stopped when he said this. In fact, he wanted to say, "It's just very expensive!" But at this moment, he suddenly thought of Zhu Mingyang's current value, so he didn't say it anymore. No matter how expensive a car is, Zhu Mingyang can definitely afford it. Not to mention buying one, it would be fine if it was the same-owned car factory.

"But what?"

"Nothing?" Tang Yunshan scratched his head and continued: "As far as I know, several foreign auto manufacturers have such technology. It is OK if you need to customize one."

"Yeah!" Zhu Mingyang responded, without saying anything, turned his head and walked into the villa.
Chapter completed!