China Stock Market Development Report. 2004

Author: Li Zhangzhe
Publisher:
Publish Date: 2005-01-01
Features: This book comprehensively and detailedly summarizes the basic development of China's stock market in 2004 through seven sections. Its highlights include:
Section 1: Macro Overview: National Bank, Securities, and Insurance Work Conference held; Wen Jiabao meets CEO of New York Stock Exchange; Huang Ju emphasizes broadening the sources of social security fund; Wu Bangguo, Company Law, and Securities Law to be revised; Li Changchun, transforming general hospital groups into shareholding companies; State Council's historic document firmly supports stock market development; three reminders to implement the "Nine Resolutions"; State Council directly buys stocks to support bank reforms; insurance funds allowed to trade stocks directly, etc.
Section 2: Listed Companies Overview: Basic conditions of listed companies in 2003; major errors in the first quarterly reports released; Baosteel's rights offering sparks debate; China Unicom's rights offering met with silence from major institutions; China Merchants Bank pressured to reduce bond issuance; basic conditions of independent directors; overall listing and split listing; the myth of "new investments always winning" shattered; stock-for-debt; Delong Group; collapse; SME Board debuts; Jiangsu Qinhua shocks the market; listed companies violating regulations, etc.
Section 3: Full Circulation: Full circulation appears and disappears; CSRC tests the waters; intense reactions from retail investors; listed companies probe the situation; China Overseas Land and Investment actively increases holdings in tradable shares; equity split temporarily shelved; no exclusion of individual natural persons holding large amounts of non-tradable shares, using the issue to hype full circulation; focus should be on management system, regulatory quality, and listed company quality rather than reversing priorities, ignoring key issues, or exaggerating minor ones, etc.
Section 4: Rights Protection Lawsuits; retail investors relentlessly pursue Yin Guangxia; Kaili lawsuits drag on endlessly; Zhang He, a small shareholder of ST Bohai, achieves glory despite defeat; Lianhua Flavoring's small shareholders sue major shareholders; retail investors sue Daqing Linyou and Shengfang Technology wins the anti-feudal case; small and medium retail investors forced to withdraw lawsuits against Beijing City Construction; Maolin Convertible Bonds offends retail investors; Zhengbaiwen faces one challenge after another, etc.
Section 5: Other Aspects of the Stock Market; the stock market commemorates the 100th anniversary of Deng Xiaoping's birth, a retail investor in Nanjing commits suicide; a retail investor arrested for threatening to blow up the Shanghai Stock Exchange after losses; CSRC officials; fierce criticism of stock market flaws; National People's Congress marks its 50th anniversary, with the "Securities Law" included; farewell to Vice President Shi Meilun, etc.
Section 6: Fund and Securities Firms Face Challenges; fund operations; who is the hero of 2003 rankings; funds raise funds with false publicity; Juting Fund violates regulations with massive new stock purchases; the first Listed Open-Ended Fund (LOF) successfully launches; three years of leapfrog progress; 100 fund units; securities industry rankings; reporting exam cheating; warning and reminding sponsors; China Southern Securities administratively taken over; China CITIC Securities' acquisition of GF Securities shares sparks controversy; stock pledge loans, etc.
Section 7: Overall Trajectory of Market Performance; Golden Sheep and Golden Monkey exchange holdings; bearish news hits and breaks the 1,600-point level; the stock market stages a major comeback; Shanghai Composite breaks 1,300 points again, etc.
Section 8: Stock Market Database; performance overview; list of relevant laws, regulations, notices, etc.; list of new stock offerings and listings; SME Board offerings and listings; rights offerings; rights offerings; stock suspension, resumption, and delisting, etc.