Trial and error

Author: Shui Pi
Publisher:
Publish Date: 2006-04-01
Features: On March 17, 2005, Premier Wen Jiabao answered reporters' questions at a press conference during the "Two Sessions." When would the Chinese stock market emerge from its slump became the most clicked question online. It seemed that the Chinese capital market had entered a dead end, as policy stimulus had failed to work. April 13, 2005, was a historically significant turning point for the Chinese stock market. The China Securities Regulatory Commission announced that the timing for the pilot program of the corporate equity separation reform was ripe. With the suspension of trading for the pilot programs on May 7, the Chinese stock market entered the post-corporate equity separation era.