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China's first exchange system was established in Shanghai in 1891, and the current Shanghai Stock Exchange was re-established in 1990.
Answer: True
Explanation: China's first exchange system was indeed founded in Shanghai in 1891, and the current Shanghai Stock Exchange was re-established on November 26, 1990, commencing operations on December 19 of the same year.
The formation of the International Settlement in Shanghai, a result of the Treaty of Nanking, was crucial for the emergence of a share market in the city.
Answer: True
Explanation: The International Settlement in Shanghai, established following the Treaty of Nanking in 1842, created conditions conducive to the development of foreign trade and a share market.
Securities trading in Shanghai began in the early 1900s, with the first shares list appearing in 1904.
Answer: False
Explanation: Securities trading in Shanghai commenced earlier, in the late 1860s, with the first shares list appearing in June 1866.
The 'Shanghai Sharebrokers' Association' was founded by Chinese merchants and later renamed the 'Shanghai Stock Exchange' in 1904.
Answer: False
Explanation: The 'Shanghai Sharebrokers' Association' was founded by foreign businessmen in the 1880s and 1890s, and was renamed the 'Shanghai Stock Exchange' in 1904.
By the 1930s, Shanghai was recognized as the financial center of the Far East, where both Chinese and foreign investors could trade various securities.
Answer: True
Explanation: By the 1930s, Shanghai had indeed become the financial center of the Far East, facilitating trade in various securities for both Chinese and foreign investors.
The Shanghai Stock Exchange ceased operations permanently after the Japanese occupation in 1941.
Answer: False
Explanation: The Shanghai Stock Exchange ceased operations in 1941 due to Japanese occupation, but it resumed in 1946 before closing again in 1949 after the Communist revolution, not permanently in 1941.
The re-establishment of the Shanghai Stock Exchange in 1990 was a direct result of China's economic reforms initiated by Deng Xiaoping in the late 1970s.
Answer: True
Explanation: The re-establishment of the Shanghai Stock Exchange in 1990 was a culmination of China's economic reforms and the development of a socialist market economy following Deng Xiaoping's rise to power in 1978.
Deng Xiaoping's Southern Tour in 1992 was instrumental in reaffirming the direction of economic reforms and saving China's capital market.
Answer: True
Explanation: Deng Xiaoping's Southern Tour in 1992 is widely credited with reaffirming the commitment to economic reforms and preserving China's nascent capital market, including its stock exchanges.
A ban on new Initial Public Offerings (IPOs) was imposed in April 2005 to stimulate the Shanghai market after a four-year slump.
Answer: False
Explanation: A ban on new Initial Public Offerings (IPOs) was imposed in April 2005 to curb the market's decline and facilitate the conversion of state-owned equity into tradable shares, not to stimulate the market directly.
The Industrial and Commercial Bank of China (ICBC) launched the world's largest IPO in 2006, valued at US$21.9 billion.
Answer: False
Explanation: In 2006, ICBC launched the world's second-largest IPO at the time, valued at US$21.9 billion. The Agricultural Bank of China later completed the world's largest IPO in 2010.
The Treaty of Nanking in 1842, which ended the First Opium War, hindered Shanghai's development as a financial hub.
Answer: False
Explanation: The Treaty of Nanking in 1842, by establishing the International Settlement, was crucial for the development of foreign trade and the emergence of a securities market in Shanghai, thus fostering its growth as a financial hub rather than hindering it.
In the 1930s, the Shanghai stock market was primarily influenced by the price movements of industrial shares.
Answer: False
Explanation: In the 1930s, the Shanghai stock market was predominantly influenced by the price movements of rubber shares, not industrial shares.
When was the current Shanghai Stock Exchange re-established and when did it commence operations?
Answer: Re-established on November 26, 1990, commenced operations on December 19, 1990.
Explanation: The current Shanghai Stock Exchange was re-established on November 26, 1990, and officially commenced its operations on December 19, 1990.
What historical event and subsequent agreement were crucial for the development of foreign trade and the foreign community in Shanghai, leading to the emergence of securities trading?
Answer: The First Opium War and the Treaty of Nanking.
Explanation: The First Opium War, concluded by the Treaty of Nanking in 1842, was pivotal in establishing the International Settlement in Shanghai, which in turn fostered foreign trade and the conditions necessary for a securities market to emerge.
When did the market for securities trading in Shanghai commence, and when did the first shares list appear?
Answer: Late 1860s, with the first shares list in June 1866.
Explanation: Securities trading in Shanghai began in the late 1860s, and the first official shares list was published in June 1866.
Who founded the 'Shanghai Sharebrokers' Association' and when was it renamed the 'Shanghai Stock Exchange'?
Answer: Foreign businessmen in the 1880s and 1890s, renamed in 1904.
Explanation: The 'Shanghai Sharebrokers' Association' was established by foreign businessmen during the 1880s and 1890s, and it was subsequently renamed the 'Shanghai Stock Exchange' in 1904.
What was the impact of the Treaty of Shimonoseki in 1895 on the types of shares traded on the Shanghai Stock Exchange?
Answer: It resulted in industrial shares overshadowing traditional sectors by 1940 and rubber plantations becoming a staple.
Explanation: The Treaty of Shimonoseki in 1895, by allowing foreign factories, led to a shift where industrial shares became dominant by 1940, and rubber plantation shares emerged as a staple in Shanghai's stock trading.
What events led to the abrupt halt and subsequent closure of the Shanghai Stock Exchange in the mid-20th century?
Answer: The Japanese occupation of the Shanghai International Settlement in 1941, followed by the Communist revolution in 1949.
Explanation: The Shanghai Stock Exchange's operations were halted by the Japanese occupation in 1941 and, after a brief resumption, permanently closed in 1949 following the Communist revolution in China.
What significant event in 1992 is credited with saving China's capital market and its two stock exchanges?
Answer: Deng Xiaoping's Southern Tour.
Explanation: Deng Xiaoping's Southern Tour in 1992 is widely recognized for its crucial role in reaffirming economic reforms and safeguarding China's capital market, including the Shanghai and Shenzhen Stock Exchanges.
What measure was taken in April 2005 to address the four-year market slump in Shanghai between 2001 and 2005?
Answer: A ban on new Initial Public Offerings (IPOs).
Explanation: To counter the market slump from 2001 to 2005 and facilitate the conversion of state-owned equity, a ban on new Initial Public Offerings (IPOs) was implemented in April 2005.
In the 1930s, which type of shares predominantly influenced the Shanghai stock market?
Answer: Rubber shares.
Explanation: During the 1930s, the Shanghai stock market was primarily driven by the price fluctuations of rubber shares.
The Shanghai Stock Exchange operates as a for-profit entity, directly administered by the Ministry of Finance.
Answer: False
Explanation: The Shanghai Stock Exchange is structured as a non-profit organization and is directly administered by the China Securities Regulatory Commission (CSRC), not the Ministry of Finance.
The China Securities Regulatory Commission (CSRC) directly administers the Shanghai Stock Exchange, overseeing its operations.
Answer: True
Explanation: The China Securities Regulatory Commission (CSRC) is indeed the direct administrative and oversight body for the Shanghai Stock Exchange.
Besides the Shanghai Stock Exchange, what are the other two independent stock exchanges operating in mainland China?
Answer: Beijing Stock Exchange and Shenzhen Stock Exchange.
Explanation: Alongside the Shanghai Stock Exchange, the Beijing Stock Exchange and the Shenzhen Stock Exchange are the other two independent stock exchanges operating in mainland China.
What type of organization is the Shanghai Stock Exchange, and by whom is it directly administered?
Answer: A non-profit organization administered by the China Securities Regulatory Commission (CSRC).
Explanation: The Shanghai Stock Exchange functions as a non-profit organization and is under the direct administration of the China Securities Regulatory Commission (CSRC).
Since 1997, where has the Shanghai Stock Exchange been housed?
Answer: The Shanghai Securities Exchange Building.
Explanation: Since 1997, the Shanghai Stock Exchange has been located in the Shanghai Securities Exchange Building.
Who are the current Chairman and President of the Shanghai Stock Exchange, respectively?
Answer: Geng Liang and Zhang Yujun.
Explanation: Geng Liang serves as the current Chairman, and Zhang Yujun holds the position of President of the Shanghai Stock Exchange.
The Shanghai Stock Exchange is entirely open to foreign investors, similar to the Hong Kong Stock Exchange.
Answer: False
Explanation: Unlike the Hong Kong Stock Exchange, the Shanghai Stock Exchange is not entirely open to foreign investors due to capital account controls by Chinese mainland authorities.
The Shanghai Stock Exchange launched the STAR Market in 2019 to exclusively feature agricultural companies.
Answer: False
Explanation: The STAR Market, launched by the Shanghai Stock Exchange in 2019, exclusively features technology-related companies, not agricultural companies, and was established as a rival to NASDAQ.
The Shanghai Stock Exchange lists and trades only two main categories of securities: stocks and bonds.
Answer: False
Explanation: The Shanghai Stock Exchange lists and trades three main categories of securities: stocks, bonds, and funds.
'A' shares on the Shanghai Stock Exchange are priced in U.S. dollars and were initially restricted to foreign investors.
Answer: False
Explanation: 'A' shares are priced in Renminbi (CNY) and were initially restricted to domestic investors. 'B' shares are quoted in U.S. dollars.
The Qualified Foreign Institutional Investor (QFII) program, launched in 2003, allowed foreign investors to trade 'A' shares on the SSE with certain limitations.
Answer: True
Explanation: The QFII program, initiated in 2003, enabled foreign investors to access 'A' shares on the SSE, albeit with specific limitations, expanding foreign participation in the market.
The initial quotas for the QFII program were US$80 billion, later increased to US$30 billion.
Answer: False
Explanation: The initial quotas for the QFII program were US$30 billion, which were later increased to US$80 billion by April 2012.
The Shanghai Stock Exchange is open for trading from Monday to Friday, with a break between morning and afternoon sessions.
Answer: True
Explanation: The Shanghai Stock Exchange operates on weekdays from 09:15 to 15:00, including a break between its morning and afternoon trading sessions.
The primary currency used for transactions on the Shanghai Stock Exchange is the U.S. Dollar.
Answer: False
Explanation: The primary currency for transactions on the Shanghai Stock Exchange is the Renminbi (CNY), China's official currency.
What new market did the Shanghai Stock Exchange launch in 2019, and what was its primary purpose?
Answer: The STAR Market, to feature technology-related companies as a rival to NASDAQ.
Explanation: In 2019, the Shanghai Stock Exchange introduced the STAR Market, specifically designed to list technology-related companies and serve as a competitive platform to NASDAQ.
What are the three main categories of securities listed and traded on the Shanghai Stock Exchange?
Answer: Stocks, bonds, and funds.
Explanation: The Shanghai Stock Exchange facilitates the listing and trading of three primary categories of securities: stocks, bonds (including treasury, corporate, and convertible), and funds.
How do 'A' shares and 'B' shares on the Shanghai Stock Exchange primarily differ in terms of currency and initial investor access?
Answer: 'A' shares are in Renminbi for domestic investors, 'B' shares in U.S. dollars for both domestic and foreign investors.
Explanation: 'A' shares are denominated in Renminbi and were initially for domestic investors, while 'B' shares are quoted in U.S. dollars and have been accessible to both domestic and foreign investors since 2001.
What was the initial quota for the Qualified Foreign Institutional Investor (QFII) program, and to what amount was it increased by April 2012?
Answer: Initial US$30 billion, increased to US$80 billion.
Explanation: The Qualified Foreign Institutional Investor (QFII) program began with initial quotas of US$30 billion, which were subsequently expanded to US$80 billion by April 2012.
What are the trading hours for the Shanghai Stock Exchange on weekdays?
Answer: 09:15 to 15:00, with a break between morning and afternoon sessions.
Explanation: On weekdays, the Shanghai Stock Exchange operates from 09:15 to 15:00, incorporating a scheduled break between its morning and afternoon trading sessions.
What is the primary currency used for transactions on the Shanghai Stock Exchange?
Answer: Renminbi (CNY).
Explanation: The Renminbi (CNY), China's official currency, is the primary medium for transactions conducted on the Shanghai Stock Exchange.
The Shanghai Stock Exchange is the world's largest stock market by market capitalization, exceeding $6 trillion as of July 2024.
Answer: False
Explanation: As of July 2024, the Shanghai Stock Exchange was the world's third-largest stock market by market capitalization, not the largest.
The SSE Composite Index includes only 'A' shares, excluding 'B' shares, to reflect the market performance.
Answer: False
Explanation: The SSE Composite Index, the primary indicator of the Shanghai Stock Exchange's performance, includes all listed stocks, encompassing both 'A' shares and 'B' shares.
The SSE Composite Index was launched on July 15, 1991, with a Base Value of 100 on December 19, 1990.
Answer: True
Explanation: The SSE Composite Index was indeed launched on July 15, 1991, with its Base Day set as December 19, 1990, and a Base Value of 100.
As of August 27, 2020, Industrial and Commercial Bank of China (ICBC) was the largest company by market value on the Shanghai Stock Exchange.
Answer: False
Explanation: As of August 27, 2020, Kweichow Moutai was the largest company by market value on the Shanghai Stock Exchange, not ICBC.
As of September 2024, there were over 2,000 companies listed on the Shanghai Stock Exchange.
Answer: True
Explanation: As of September 2024, the Shanghai Stock Exchange had 2,269 listed companies, which is indeed over 2,000.
Which of the following best describes the Shanghai Stock Exchange's global and Asian market capitalization ranking as of July 2024?
Answer: The world's third-largest and Asia's biggest.
Explanation: As of July 2024, the Shanghai Stock Exchange held the position of the world's third-largest stock market by market capitalization and was recognized as Asia's biggest stock exchange.
Which index is the most commonly used indicator to reflect the Shanghai Stock Exchange's market performance, and what does it include?
Answer: The SSE Composite Index, including all listed 'A' and 'B' shares.
Explanation: The SSE Composite Index is the most widely recognized indicator of the Shanghai Stock Exchange's performance, comprising all listed 'A' and 'B' shares.
When was the SSE Composite Index launched, and what was its Base Day and Base Value?
Answer: Launched on July 15, 1991, Base Day December 19, 1990, Base Value 100.
Explanation: The SSE Composite Index was launched on July 15, 1991, with its Base Day established as December 19, 1990, and a Base Value of 100.
As of August 27, 2020, which company was the largest by market value on the Shanghai Stock Exchange?
Answer: Kweichow Moutai.
Explanation: On August 27, 2020, Kweichow Moutai held the distinction of being the largest company by market value on the Shanghai Stock Exchange.
Approximately how many companies were listed on the Shanghai Stock Exchange as of September 2024?
Answer: Around 2,200 companies.
Explanation: As of September 2024, there were 2,269 companies listed on the Shanghai Stock Exchange, which is approximately 2,200.
What was the market capitalization of the Shanghai Stock Exchange in September 2024?
Answer: Approximately $6.41 trillion.
Explanation: In September 2024, the Shanghai Stock Exchange's market capitalization was approximately $6.41 trillion (¥45071.40 billion).
A limited company applying for listing on the Shanghai Stock Exchange must have a total share capital of at least RMB 30 million.
Answer: True
Explanation: Regulations stipulate that a limited company seeking to list shares on the Shanghai Stock Exchange must possess a total share capital of no less than RMB 30 million.
Companies seeking to list on the SSE must have been in business for at least five years and made profits for the last five consecutive years.
Answer: False
Explanation: Companies seeking to list on the SSE must have been in business for more than three years and demonstrated profitability for the last three consecutive years, not five.
What is the minimum total share capital requirement for a limited company applying for listing on the Shanghai Stock Exchange?
Answer: Not less than RMB 30 million.
Explanation: For a limited company to apply for listing on the Shanghai Stock Exchange, its total share capital must be at least RMB 30 million.
What are the requirements regarding operational duration and profitability for companies seeking to list on the SSE?
Answer: In business for more than three years and profits over the last three consecutive years.
Explanation: Companies seeking to list on the SSE must have been operational for over three years and have recorded profits for the past three consecutive years.
What percentage of a company's total share capital must publicly offered shares constitute for listing on the SSE if the total share capital exceeds RMB 400 million?
Answer: More than 15%.
Explanation: If a company's total share capital exceeds RMB 400 million, publicly offered shares must constitute more than 15% of its total share capital for listing on the SSE.
The Shanghai Stock Exchange holds a 40% stake in the Pakistan Stock Exchange (PSX) and is a part owner of the Astana International Financial Centre.
Answer: True
Explanation: The Shanghai Stock Exchange has a significant international presence, including a 40% ownership stake in the Pakistan Stock Exchange (PSX) and part ownership in the Astana International Financial Centre.
What stake does the Shanghai Stock Exchange own in the Pakistan Stock Exchange (PSX)?
Answer: 40%
Explanation: The Shanghai Stock Exchange holds a 40% ownership stake in the Pakistan Stock Exchange (PSX).