What Is the Shanghai Stock Exchange?

Shanghai Stock Exchange (English: Shanghai Stock Exchange, Chinese abbreviation: Shanghai Stock Exchange) is one of the two stock exchanges in mainland China. It was founded on November 26, 1990 ^[1] and is located in Shanghai Pudong New Area.

Shanghai Stock Exchange

Shanghai Stock Exchange (English: Shanghai Stock Exchange)

SSE market trading hours are from Monday to Friday. Morning market time, 9:15 to 9:25 for call auction time, 9:30

Mainboard market advantages

Geographical advantage

Cost of listing advantage

Technical advantages

Innovation advantage

The SSE has offices, personnel department (organization department), party office (publicity department) discipline inspection office, transaction management department, issuance and listing department, listed company supervision department 1, listed company supervision department 2, member department, bond business department, and international development Department, Fund and Derivatives Department, Market Supervision Department, Legal Department, Investor Education Department, System Operation Department, Technology Development Department, Technology Planning and Service Department, Information Center, Beijing Center, Finance Department, Risk Control and Internal Audit Department, Twenty-three departments, including the Administrative Service Center (Ministry of Security), the Infrastructure Working Group, and three affiliates: Shanghai Stock Exchange Development Research Center, Shanghai Securities Communications Co., Ltd., and SSE Information Network Co. Ltd. And coordinated operation, effectively play the role of the securities market organizer. ^[7]

Secretary of the Party Committee and Chairman: Huang Hongyuan ^[8]

The "Shanghai Stock Exchange Securities Code Allocation Rules" issued on May 28, 2007 stipulates that the SSE Securities Code uses a six-digit Arabic numeral code with a value range of. The first three digits of the six-digit code are the security type identification area, of which the first digit is the security product identification, the second to third digits are the security business identification, and the last three digits of the six-digit code are the sequential encoding area. The product definitions represented by the first code are: 0 national debt / index, 1 bond, 2 repurchase, 3 futures, 4 standby, 5 funds / warrants, 6A shares, 7 non-trading business (issue, equity distribution), 8 standby, 9B share.

(As of May 4, 2012)

After years of continuous development, Shanghai

Implementation Measures for the Relisting of Delisted Companies on the Shanghai Stock Exchange (Draft for Soliciting Opinions) ^[10]

On April 3, 2015, the Shanghai Stock Exchange stated through its official Weibo that it is working with China Clearing to actively improve related programs, allowing investors to open multiple securities accounts by one person: investors can open accounts in multiple securities companies, each account Designate a securities company.

According to the Shanghai Stock Exchange, this arrangement guarantees the convenience of investors to choose securities companies to the greatest extent. It also retains the advantages of a designated trading system to protect investors' securities assets and prevent theft. ^[12]

Afternoon on April 20, 2015,

The Shanghai trading volume exceeded 1 trillion yuan, and various market trading software could not properly display the total turnover. In response, the Shanghai Stock Exchange official micro-published the "Notice on the Shanghai Stock Exchange's market index value display related matters." The notification is as follows: ^[13]

On January 9, 2016, the Shanghai Stock Exchange (hereinafter referred to as the "Shanghai Stock Exchange") issued a notice on the implementation of the "Several Provisions on Listed Companies' Major Shareholders and Directors and Supervisors Reducing Shares" (hereinafter referred to as "reduction regulations"). , Regulate the controlling shareholders of listed companies and shareholders holding more than 5% of shares (hereinafter referred to as "major shareholders") and directors, supervisors, and senior managers (hereinafter referred to as "Dong Jiangao") to reduce their holdings of shares, and clarify specific regulatory requirements.

Since January 9, 2016, the major shareholders of a listed company have reduced the total number of shares held through centralized bidding transactions on the stock exchange within three consecutive months, and shall not exceed 1% of the total number of shares of the company.

After the major shareholders of a listed company have reduced their holdings of the company's shares purchased through the secondary market and continue to reduce their holdings of the company's shares obtained through other means, they shall comply with the requirements of the reduction of holdings. Major shareholders reduce their holdings of company shares purchased through the secondary market. Relevant requirements such as the reduction of pre-disclosure and the reduction of the proportion of holdings in the reduction regulations are not applicable. The aforementioned secondary market purchase refers to the centralized bidding trading system of the Exchange. Or the block trading system buys company shares.

When the major shareholders of a listed company reduce their holdings of the company's RMB common stock (A shares) and RMB special stocks (B shares), the total number of shares in the reduction will be combined according to the total number of A shares, B shares, and Hong Kong exchange-listed shares (H shares). Calculation.

Where a major shareholder of a listed company reduces its shareholding through an agreement transfer method, the transferee ratio of a single transferee must not be less than 5%. The lower limit of the transfer price range shall be implemented in accordance with the provisions of the block transaction. Laws, regulations, departmental regulations and the business rules of the Exchange are otherwise Except as required.

The major shareholders of a listed company reduce their shareholdings through an agreement transfer method. Shareholders and transferees whose shareholding ratio is less than 5% after the reduction of shareholding shall continue to abide by the provisions of Article 8 and Article 6 of the reduction of shareholding within 6 months after the reduction. The provisions of Article 9; after the reduction, the transferor and transferee whose shareholding ratio reaches or exceeds 5% shall abide by the requirements of the reduction regulation after the reduction. ^[14]