Backlight: Witnessing the Strange Phenomena of the Chinese Stock Market

Author: Li Chengli
Publisher:
Publish Date: 2004-07-01
Features: Ensuring the standardization of the stock market requires two key points: one is a sound corporate governance structure, and the other is strict post-event supervision. Unfortunately, neither of these has been implemented well in China. The problem with China's regulation lies in being overly stringent beforehand but too lenient afterward. So many listed companies and intermediaries violate regulations, and so many market manipulators engage in malicious operations, yet the penalties are very light—this starkly contrasts with the strict post-event supervision in developed Western countries. There are also issues with the positioning of China's securities market, which is either labeled as a supplementary financial tool or a social stabilizer. The stock market has been established for over a decade, yet its positioning remains so ambiguous. The author, with the perspective of a journalist, boldly introduces and exposes the strange phenomena in China's stock market in this book. The book is divided into five parts and selects more than 40 strange phenomena in the stock market for analysis and disclosure, including market manipulators, black shareholders who hollow out listed companies, and listed companies that deceive investors through fraud. The book is highly readable and does not require deep professional knowledge to understand. It can be read with a relaxed and leisurely mindset, making it suitable for and other readers who are interested in the stock market.