This Day, That Year
China Daily | Updated: 2019-05-21 07:32
Editor's note: This year marks the 70th anniversary of the founding of New China.
On May 21, 1992, the Shanghai Stock Exchange decided to fully deregulate stock prices for free competitive bidding. The day is considered to be one of the most important ever for the Chinese stock market.
Stock prices at the time were solely driven by the market, which caused them to jump 570 percent in just three days. An item from Aug 24, 1992, in China Daily showed investors in Beijing buying bonds to help build Shanghai's Pudong construction and development zone.
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