Stock Market and Its Supervision

China has set up two Stock Exchanges. One in Shenzhen, in 1990 and one in Shanghai, in 1991. In 10 years, China has experienced all the ups and downs that many other countries have faced over a hundred years of development.

Now, China's stock exchange has attracted over RMB4000 billion, US$480.8 billion, worth of assets, with over 1200 listed companies and 70 million investors.

In 1998, China Securities Regulatory Commission was established. The Commission is the watchdog for the national stock and futures markets. It's job is to manage and supervise the stock and futures business, the exchange, listed companies on the exchange, stock and future agencies, stock investment and fund management agencies, stock and future investment consultant agencies and other agencies involved with the exchange.

For the general public, the stock markets have become one of their most important investment channels.

By the end of 2003, the number of listed companies (A and B shares) has increased from 1224 in 2002 to 1287, with a total market value of RMB4257.8 billion, an increase of 11%.