Chapter 12: The Difficult Establishment of the Shanghai Stock Exchange (Dedicated to Papers)

(The details of the opening of this chapter are from the memoirs of the parties)

At about 9:30 a.m. on December 3, senior officials of Mingzhu City came to inspect the Huangpu Business Department of Wanguo Securities with city cadres.

Xie Rongxing got the news that the senior officials of the city were coming an hour in advance, and he was very worried, because the market was not good at that time, and the Pengcheng stock market fell every day, and I wondered if the shareholders would vent their grievances and cause trouble.

When the car of the city's senior officials and his party was parked about 20 meters away from the entrance of the Huangpu business department of the world, many shareholders on Guangdong Road still gave way to a passage in a very crowded situation, Xie Rongxing immediately took the lead in making a gesture of applause, and everyone immediately put out a welcome ceremony with Chinese characteristics, and everyone applauded warmly.

Xie Rongxing nervously invited the city senior officials and his party to the reception room, the reception room under the attic of the Huangpu business department office is only 15 square meters, but the city officials do not dislike it at all, after listening to the report of Guan Jinsheng, general manager of Wanguo Securities, Xie Rongxing only listened to the city senior officials both serious and serious said: "This is a risky thing (referring to stock trading), and we must explain the risk to the people." ”

This sentence was later simplified to the eight-character mantra of "the stock market is risky, and investment needs to be cautious"!

After the city officials and others came out of the reception room, they went to the stock hall in front of them to have a look, because this was just an ordinary inspection, and they did not bring any domestic reporters, but what people did not expect was that when everyone was warmly welcoming the leaders to inspect, suddenly a person with a camera in his hand "landed" and jumped onto the marble table of the counter of the stock hall, condescendingly aimed at the city leaders and their entourage and began to shoot.

This bold reporter is not a Chinese but a "foreigner", a reporter from M National Cable TV (), who originally came to interview the stock market road salon at the entrance of the Huangpu business department of the United Nations, but did not expect to catch up with such a good opportunity.

Foreigner reporters are all temperaments who can give up everything for the truth and news, so this audacious foreigner jumped out and slapped the leaders of the Huaxia Municipal Party Committee without notifying anyone.

Xie Rongxing was very nervous at the time, and he was trying to stop the city senior official from changing his serious expression just now, facing the camera with a smile on his face and waving.

This accidental interview established the image of the Chinese government as to carry out reform and opening up to the end, and dispelled the concerns of foreign capitalists about investing in China.

Xie Rongxing saw that he was busy giving his people a look, and another person rushed to the side of the senior city official, he took a "Xiaofeile" stock and wanted the senior city official to sign the stock. At this time, an entourage came out to stop him, and Xie Rongxing immediately went up to explain to the senior city officials.

"He's my client here, don't worry, please sign for him." Xie Rongxing said that the entourage gave up the action of continuing to block, and the senior official of the city happily agreed and took over the stock in his hand, and the senior official of Mingzhu City signed the words "Zhu xx (big)" on this "Xiaofeile" stock.

Xie Rongxing was relieved to see this, in fact, this scene was arranged by him in advance, the customer who came to sign was named Zhao Shanrong, who was one meter nine tall and nicknamed "Long Feet", after the city senior officials came to the Huangpu business hall, Zhao Shanrong found Xie Rongxing and asked if he could let the city officials sign on their stocks.

"I can't do this kind of thing, you can try it when the city officials visit the business hall, but in the end, you can go to see the situation at that time. Xie Rongxing said that the above scene happened.

After inspecting the private securities institutions, the senior city officials took people to inspect the Shanghai Stock Exchange, which was under preparation.

****

On December 3, senior city officials came to the Shanghai Stock Exchange to inspect the construction site outside the trading hall of the Shanghai Stock Exchange. After getting out of the car, the high-ranking city officials who saw all this turned pale. But when he walked into the hall, his face soothed, because he saw that the hall was ready

He asked the person in charge of the preparatory team if there were any difficulties to be solved, and the person in charge said that the round arched glass that decorated the box was not suitable.

"If you look for Yaohua Pilkington, just say that I Zhu XX said it, and tell them to order it immediately!" said the senior city official immediately.

"Do you dare to manage boldly?" asked the senior city official.

"Dare!" replied Wen Yuan, the young lieutenant of the preparatory group.

The night before the opening of the Shanghai Stock Exchange, the construction teams of the municipal, greening, and sanitation departments in the district gathered at the site to unify the command and enter the construction in batches to start construction overnight.

Overnight, the road and environment outside the Pujiang Hotel were completely renewed, like a trick.

According to the original schedule, the exchange was supposed to open around December 14. Due to the need to wait for a delegation led by Ms. Tang, the Secretary for Administration of Hong Kong Island, to attend the opening ceremony, the opening of the Shanghai X Stock Exchange was postponed to December 19.

****

(Wei Wenyuan's perspective)

At the beginning of 1990, in order to show the world that China's reform and opening up would not go back, the Chinese government announced that it would establish the Pearl Stock Exchange. Immediately thereafter, the Pearl City Branch of the People's Bank of China set up a preparatory group, led by the director of the Financial Supervisory Department, and in this way, Wei Wenyuan, who had just been transferred to the Financial Supervisory Office, was responsible for this work that went down in history.

There was only a few months to set up an exchange that had never existed in Huaxia, which was a time-constrained and difficult task, and Wei Wenyuan, who was in charge of specific affairs, was only 35 years old at the time.

In the early 90s of the last century, few people in Huaxia could tell what the stock exchange was about, and Wei Wenyuan and his preparatory team had never seen a real stock exchange.

In less than half a year, in the case of an extremely scarce information, they managed to build a stock exchange. But as the opening approached, the ignorant self-confidence at the beginning gradually eroded, and a confusion lingered

"Is this thing I did really a stock exchange?" Wei Wenyuan often asked himself, he was nervous, and what was worse was that he couldn't do anything about it anymore, because it was already December.

After deciding on the general principles and technical solutions for computer trading, Wei Wenyuan inquired about the progress of the system construction every day. Time waits for no one, Wei Wenyuan and others hurried up, and the trading system was finally ready for the official opening. However, the new system has not been tested or tested, and no one knows what will happen in the actual trading process.

There is still no bottom in everyone's hearts!

At this time, there is still a big problem for the Shanghai Stock Exchange, and the clearing system has not had time to set up a clearing department, and will it be able to operate normally at that time......

199012 18

This day was not only busy and troublesome, but when arranging the venue for the opening ceremony, the tired Wei Wenyuan pressed his foot and swollen when he moved the table. At night, the wound became inflamed, and he developed a high fever that alternated between hot and cold. But the Shanghai Stock Exchange will open tomorrow, the eyes of the whole world will focus here, all his efforts and hard work will also be seen tomorrow, at such a critical juncture, it is impossible for Wei Wenyuan to leave the work site, so he took medicine and stayed up in the guest room of the Pujiang Hotel for two or three hours until dawn.

December 19, 1990

Early in the morning of the 19th, Wei Wenyuan woke up and found that his feet were so swollen that he couldn't put on shoes at all, so he had to borrow a large leather shoe from someone and put it on his foot.

So on the day of the opening of the Shanghai Stock Exchange, he wore a large and a small leather shoe and came to the scene on his back, Wei Wenyuan limped to make the final arrangements at the scene, and then leaned against the wall to greet the VIP.

According to the original procedure, trading officially began at 11 a.m., and Li Xiangrui, chairman of the Bank of Communications and chairman of the exchange, authorized Wei Wenyuan to sound the gong to open the market.

At 11 o'clock, the excited guests were still talking and visiting the trading floor, but they did not all enter the ceremony and the display screen had already begun to display the trading data.

In a hurry, Wei Wenyuan picked up the gong and hammered and struck the first opening gong on the X stock exchange!

Put down the gong and hammer Wei Wenyuan walked into the computer room with difficulty, and saw Xie Wei and they hugged each other excitedly and jumped together, the trading system was successful!

Captain Wen Yuan didn't eat a few bites of food at the welcome banquet, and after seeing off the guests, he collapsed on the bed, at this time he had a high fever of about 40 degrees, and was sent to the hospital that night. Wei Wenyuan stayed in the hospital for a month before being allowed to be discharged. Someone asked him how he felt on the first day of the market.

"I don't have a feeling, I don't know how to trade on the first day or how to close the market. Wei Wenyuan said truthfully, in fact, he was already burned at that time. You have to find the latest chapters by yourself to read books?