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1994年初,中国证监会在海口开会,提倡推广使用以专项定期定额存单代替认购证的股票发行方法。中国的证券交易史翻开了新的一页。 从认购证到专项存单,这是一条并不算长但充满探索的困惑和焦虑的道路,当我们回顾刚刚走完的这一段,我们将对中国的股票市场以至中国的改革产生种种思考。 上海、深圳的认购证,把“股票热” 在全国范围内烧烤到了极致 1991年8月,上海兴业房产股份有限公司向社会公开发行48.8万股个人股股票 (每股面值10元,现已拆细为1元,相当于488万股),股市大惊,股民大喜,其心情犹如久旱逢甘霖。 担任主承销的万国证券公司经过精心设计,推出了中国第一次采用的等比例抽签——计算机辅助数据处理的发行方法。该方法整个过程有10个程序,设计得严密、合
In early 1994, China Securities Regulatory Commission held a meeting in Haikou, advocating the promotion of the use of special fixed-term certificates of deposit instead of the subscription card stock issuance method. China’s securities exchange history opened a new page. From subscription card to special deposit certificate, this is not a long but full of exploration puzzles and anxieties. When we review the passage we have just finished, we will think variously about China’s stock market and China’s reform. Shanghai, Shenzhen, subscription card, the “stock fever” barbecue nationwide to the extreme 1991 August, Shanghai Industrial Properties Co., Ltd. to the public 488,000 shares of individual stocks (par value of 10 yuan, now split Fine for 1 yuan, equivalent to 488 million shares), the stock market was shocked, investors overjoyed, its mood is like a long drought every rain. As a lead underwriter, IWC has been carefully designed to launch the first lottery in China - the issuance of computer-aided data processing. The whole process of the method has 10 procedures, well designed, combined