Countercurrent 1982

Chapter 1563 Final Preparations
Entering mid-November, the Shenzhen Stock Exchange has entered the final stage of preparations. With all hardware and software facilities in place, everything is ready, and the only thing left is Dongfeng.

On this day, Li Hao took the members of the leadership team of the municipal party committee and several presidents of the Shenzhen People's Bank to inspect the preparation work of the Shenzhen Stock Exchange. As soon as he entered the door and saw Yu Guogang, he immediately stepped forward and asked, "How is the preparation work going? We're here to make a deal!"

"You make a decision today, and we will open tomorrow!" Yu Guogang replied very simply.

At this point, Yu Guogang's work has basically been completed, including all the software and hardware facilities of the Shenzhen Stock Exchange. Since the beginning of the month, Yu Guogang has actually not had much work.

However, after hearing what Yu Guogang said, some people present still had doubts. In the subsequent meeting, the leaders of these equipments and several presidents of the People's Bank of China began to question one after another, thinking that Yu Guogang's work was not in place. places, and Yu Guogang also explained them one by one.

In addition, in the meeting, some people suggested not to rush to open the Shenzhen Stock Exchange. On the one hand, the state has not yet officially approved it, and on the other hand, it is rushing to open, which may cause some unpredictable confusion.

In this regard, Yu Guogang said that if the Shenzhen Stock Exchange can be opened as soon as possible, 85% of the problems in the current market can be eliminated immediately; the point.

Afterwards, Yu Guogang demonstrated the transaction process of the Shenzhen Stock Exchange in public, including hand trading, board bidding, computer operation, stock trading and so on.

when seen.When the various data on the Shenzhen Stock Exchange's stock market electronic bulletin board kept appearing and blinking, everyone at the scene suddenly fell silent, and no one raised any objections.

In fact, regarding the current situation of the Shenzhen stock market, the establishment of the Shenzhen Stock Exchange is an imminent issue.

When the stock was first issued in Shenzhen, due to the lack of public understanding of stocks at that time, it was very difficult for SDB to progress in the joint-stock start-up period.

All the old employees of Shenzhen Development Bank at that time remembered that it was very difficult for depositors to issue stock warrants at that time. Let party members and cadres take the lead in buying stocks.

Another piece of news at that time also showed that in order to complete the issuance task, a certain unit stipulated that everyone who subscribed for each share should pay 5 cents for each individual, and the unit would subsidize 5 cents. Non-party members would receive 1000 shares, and party members must subscribe for 2000 shares.

Interestingly, these people who were forced to buy stocks made money in the future. At the beginning of 1990, Shenzhen Development Co., Ltd. was split from 20 yuan to 2.8 yuan denomination, 1990 yuan per share. According to over-the-counter transaction data, it has risen to 4 yuan since the end of April 10. 4 million yuan, an increase of 290% in four months.

The successive soaring stock prices are like opening a crazy magic box. Only then did people discover that stocks can be so profitable, which also completely stimulated the enthusiasm of the market for investment.

However, this kind of enthusiasm has also brought confusion to a certain extent. In fact, long before the trial operation of the Shenzhen Stock Exchange, the five stocks of Shenzhen Development Bank Shenzhen Vanke, Shenzhen Jintian Shen Anda, and Shen Yuanye had already been listed on the Shenzhen Special Economic Zone Securities Company. Listed and traded over the counter, known as the old five stocks in Shenzhen.

In 1990, that is, this year, the old five stocks in Shenzhen began to rise wildly. The supply of stocks was in short supply, and the trading was extremely active. However, the order on the entire securities trading counter was very chaotic, and more people traded outside the market.

At that time, there were as many as tens of thousands or even 10,000+ people trading stocks every day outside the Shenzhen Securities Company. Black market transactions were extremely rampant, and even caused serious public security problems to a certain extent. Robbery, extortion and Fraudulent activities have been rectified several times by the SZ city government, but the effect is not obvious.

Therefore, for Shenzhen now, the launch of a centralized stock exchange is imminent, with a special trading computer-assisted system to realize centralized trading and automatic matching.

However, the Shenzhen Stock Exchange was not approved by the state at that time, and all kinds of chaos in the Shenzhen stock market quickly attracted the attention of the central leadership. For a new thing, some high-level national advocates strengthen management, and some propose to cancel the pilot project.

It is said that a leader even emotionally wrote the three big characters "close! close! close!" on the internal reference, which shows that the country's top leaders are facing great internal resistance to the establishment of a stock exchange.

Later, the investigation team first went to Shenzhen to understand the situation. After full research, the investigation team affirmed the positive role of the joint-stock system pilot in SZ City, and put forward suggestions on the problems existing in several aspects such as stock issuance and trading market organization and management.

The objective report of the investigation team relieved a certain crisis for the development of the Shenzhen stock market, but because of the sensitivity of this matter, the state refused to approve the application for the opening of the Shenzhen Stock Exchange submitted by the SZ municipal government and put it on hold.

Without a birth permit, Shenzhen dared to give birth, which really reflected the determination and courage of the reformers in Shenzhen at that time.

The Shenzhen Stock Exchange was officially opened in December 1990, but it was not approved by the State Council until the second year. Secretary Li Hao contributed a lot to this. If it hadn’t been for him to make the final decision, the Shenzhen Stock Exchange opened before the Shanghai Stock Exchange, and perhaps there would be no Shenzhen today. The stock exchange is up.

Some people may think that the Shenzhen Stock Exchange and the Shanghai Stock Exchange can exist at the same time, but in fact, the decision-makers at the time were very cautious about the establishment of a stock exchange. At the beginning, they just wanted to set up a pilot project in Shanghai, and Shenzhen was not included at all. Within the scope of consideration, according to the steps formulated by the state, at least after the Shanghai Stock Exchange has been operating stably for many years, it will consider establishing new stock exchanges in other cities.

Therefore, if it were not for Li Hao's extraordinary courage and courage, the establishment of the Shenzhen Stock Exchange would have been delayed for several years, which would have a considerable impact on Shenzhen's ability to attract funds to develop enterprises, and also restrict Shenzhen's economic development to a certain extent.

Under Li Hao's decision, Shenzhen decided to let the Shenzhen Stock Exchange start trial operation on December 12 this year. In addition to the old five stocks in Shenzhen, there are also two shares of Tianyin Group's spin-off companies, a total of 1 only stock.

And from this moment, Duan Yun and his Tianyin Group have entered a new journey of development, and have begun to leave a mark that will be recorded in the annals of history on the historical stage of reform and opening up...

(End of this chapter)