Category: Money tips Release Date: 2007-04-22
Shanghai Stock Exchange in 1990, before the establishment of a period of up to 5 years of the counter transaction history. At that time, in Shanghai, Xi Kang Lu, Nanyang Road intersection Xikanglu 101 opened a securities business department, full name of China Industrial and Commercial Bank of China Shanghai Jing'an Trust and Investment Corporation Securities and Exchange Division. This new period is Shanghai's first securities business department is to use the space below the Jing'an Stadium grandstand rebuilt. Small business department, but the beach reputed in the last 1:00. Heyday of the scene with the Chinese New Year party lines to describe on the one that is: "Red Flag breeze, huge crowds of people, that scene is quite spectacular."
At that time, Zuo Gupiao and buying government bonds people are tubes that house sales department called "Xikanglu 101." To buying and selling stocks with a good seal, the stock of the back column of the transferring and transferee, buyer and seller stamped transaction be considered. Took stock of the party there is an "interest-bearing discount card", the above receive an annual dividend of records. Bond trading scene is more lively, both in-kind transactions, how thick you get money to buy, basically do regarding the thickness of the bonds back to the same physical coupons. Initially, such a counter transaction orderly, but as the market factors, changes in the way that transactions will not meet the inherent, and so the black market came into being.
First appeared in the black market sale of government bonds. At that time, the sale of bonds channel block-up, the flow of the market have a strong desire to form a scale of private transactions became illegal. I remember once I took 20,000 yuan to buy a listing on the counter, and there is a two-year maturity treasury bonds in 1986, I counted a good interest rate of 15%, just be prepared to buy, you cross the plug to a young man, He told me that his hand has 1988 bonds, with 86 coupons expire the same day, an annual interest rate of up to 22%, I thought to myself how can this so good? forget after a few times, it is true, only one has been market, a not yet listed, I do not hesitate to buy his hands on the bonds. Later became acquainted with this young man, and I would go to his house on the transaction. His slip of the shanty home in Changning district, he told me that he graduated from technical school in a glass factory work, and now make some hard-earned money out of sick leave mixed. On the black market dealers, he is the lowest level in Shanghai known as "piling mold." He was later tapped to sell their own lack of funds, go to Erdaofanzi at getting goods. A few years ago I also encountered on the road this young man, was short, thin, very clever look, he said that now that family glass factory has been closed down, he laid off at home, helping people to play some odd jobs, the situation is not�
Erdaofanzai, I know we call him an "old Ningbo" and Mr. Chang, 60-year-old a retired staff. Every day he wore a coat, until one day, I would like to come to him to buy points, bond, he will I receive Beijing Road and into an apartment building stairs, opened the coat, wow! I see Yi Leng, which is a coat which, ah, is simply a flow of neatly stitched, "cabinet", from top to bottom tightly packed, each at a pocket filled with different years and different denominations of the bonds. Mr. Chang did not know of this coat is still? If still there, I think I can take it out into the museum to go, that was the witness of history it! Old Chang comparison to comply with rules of the game, there is time, I have paid their dues, he single-handedly pay coupons, returned home a little less than 50 yuan, the next day I went to see him, he Erhuamoyue, immediately draw one to me and apologized over and over again . Erdaofanzi's own strength to do a little bit, to advance a few hundred million dollars on tickets, the overhauled to make a difference can be issued, unable to pronounce opinions on their own down to eat.
Xikanglu 101 in front of the stock black market peak in 1989 at the end, when a group of Shenzhen, Shenzhen, speculation also pushed up the hand of the market was later transferred to Shanghai. As the buyer and the seller negotiated a price prevailing at the time went to the counter go up post-delivery handling procedures, so people do not bother listing the price of the venue, people in the street on the swing-up of the stalls, will the stock price tag. At that time the market called the big Sunding more active, he has produced a hung his head like a hawker selling cigarettes kind of big wooden box, which stood piles of stock and standard definition price. Sometimes I ask him, he would not bother to answer, only saying that "their perspective, their own look." Then active in the black market, large, and now most have disappeared without a trace.
101 Xikanglu the door on the front of the black market, the management was very much a headache, and has sent police and business managers to "impulsive," but all to no avail. Only found in the law enforcement process, it is difficult for these illegal acts of punishment, were arrested and have no basis for punishment. Gradually became aware of the management of this block would be better with less frequent in this context, the Shanghai Stock Exchange's efforts to speed up the preparation. Exchanges to set up, due to a long period of time the stock is still in short supply, to subscribe for certificates issued in 1992, the black market trading is still rampant, and the application procedures is also incomplete sub-called "Spear pairs to be" and "single shot is required to be" respectively price tag.
At that time up to 4,5 years, I spent a lot more time to investigate and study a variety of black-market transactions, respectively, at the time of the "Shanghai Securities News", "China Securities News", "Business News" published some information on Remediation black market articles. With the stock market structure becomes more complete, since 1993, the Shanghai Securities black market out of the stage of history only.
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