上海证券交易所

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Shanghai Stock Exchange 上海证券交易所

公司類型	证券机构
市場資料	{{{market_information}}}
成立時間	1891年其前身上海掮客公会成立 1904年更名为上海证券交易所 1949年上海证券交易所停业1990年上海证券交易所重新开业
總部地點	上海，中华人民共和国
郵政編號	{{{zip_code}}}
電話號碼	{{{telephone_no}}}
重要人物	耿亮（理事长）朱从玖（总经理）
口號
產業	金融
產品	证券交易
資本額	{{{capital}}}
營業額	{{{revenue}}}
稅前盈餘	{{{operating_income}}}
淨利	{{{profit}}}
員工數
結算期	{{{accounting_period}}}
母公司	{{{parent}}}
子公司	{{{subsid}}}
網站	www.sse.com.cn
{{{footnotes}}}

上海证券交易所简称上证所（Shanghai Stock Exchange），是中国大陆两所证券交易所之一，位于上海浦东新区。上海证券交易所创立于1990年 11月26日，同年12月19日开始正式营业。上海证券交易所是不以营利为目的的法人，归属中国证监会直接管理。其主要职能包括：提供证券交易的场所和设施；制定证券交易所的业务规则；接受上市申请，安排证券上市；组织、监督证券交易；对会员、上市公司进行监管；管理和公布市场信息。

上证所市场交易时间为每周一至周五。上午为前市，9:15至9:25为集合竞价时间，9:30至11:30为连续竞价时间。下午为后市，13:00至15:00为连续竞价时间，周六、周日和上证所公告的休市日市场休市。

上海证券交易所是国际证监会组织、亚洲暨大洋洲交易所联合会、世界交易所联合会的成员。

[编辑] 历史

位于上海浦东陆家嘴金融贸易区的上海证券交易所大厦

The formation of the International Settlement (foreign concession areas) in Shanghai as a result of the1842年南京条约 of (which ended the 第一次鸦片战争) and subsequent agreements between the Chinese and foreign governments are crucial to the development of foreign trade in China and of the foreign community in Shanghai. 上海的证券贸易市场起源于1860年代. The first share list appeared in June 1866年 and by then Shanghai's International Settlement had developed the conditions conducive to the emergence of a share market: several banks, a legal framework for joint-stock companies, and an interest in diversification among the established trading houses (although the trading houses themselves remained partnerships).

In 1891年 during the boom in mining shares, 外国商人成立了“上海掮客公会” headquartered in Shanghai as 中国第一个证券交易所. 在1904年 the Association applied for registration in 香港 under the provision of the Companies ordinance and was renamed as “上海证券交易所”. The supply of securities came primarily from local companies. In the early days, banks dominated private shares but, by 1880年, only the Hong Kong and Shanghai local banks remained.

Later in 1920 and 1921, “上海证券物品交易所”和“上海华商证券交易所” started operation respectively. An amalgamation eventually took place in 1929, and the combined markets operated thereafter as the “上海证券交易所”. Shipping, insurance, and docks persisted to 1940 but were overshadowed by industrial shares after the Treaty of Shimonoseki of 1895, which permitted Japan, and by extension other nations who had treaties with China, to establish factories in Shanghai and other treaty ports. Rubber plantations became the staple of stock trading beginning in the second decade of the 20th century.

在1930年代，上海已经成为远东的金融中心，中外商人和投资者都可以在这里交易证券 debentures, 政府债券和期货。 The operation of Shanghai Stock Exchange came to an abrupt halt after 日本 troops occupied the Shanghai International Settlement on 1941年 12月8日。In 1946, Shanghai Stock Exchange resumed its operations before closing again 3 years later in 1949年, after the 国共内战 took place.

文化大革命结束以后邓小平恢复权利，中国在1978年重新对外开放。在1980年代， China's securities market evolved in tandem with the country's economic reform and opening up and the development of socialist market economy. 在1990年 11月26日，上海证券交易所再次成立and began operation a few weeks later on 19 December.

[编辑] 年表

1866年 - The first share list appeared on June.
1871年 - Speculative bubble burst triggered by monetary panic.
1883年 - Credit crisis resulted speculation in Chinese companies.
1890年 - Bank crisis started from Hong Kong.
1891年 - "Shanghai Sharebrokers Association" established.
1895年 - Treaty of Shimonoseki opened Chinese market to foreign investors.
1904年 - Renamed to "Shanghai Stock Exchange"
1909年-1910年 - Rubber boom.
1911年 - Revolution and the abdication of the 清朝. 中华民国成立。
1914年 - Market closed for a few months due to the 第一次世界大战
1919年 - Speculation in cotton shares.
1925年 - Second rubber boom.
1929年 - 上海证券物品交易所和上海华商证券交易所 were merged into the existing 上海证券交易所".
1931年 - Incursion of Japanese forces into northern China.

Image:SSE ICBC IPO 102006.jpg

Yang Kaisheng (right), vice chairman and president of ICBC, celebrates after striking the trade-starting gong during the ceremony of ICBC's IPO on 10/27/2006 at SSE.

1930年代 - The market was dominated by the rubber share price movements.
1941年 - The market closed on Friday 5 December. Japanese troops occupied Shanghai.
1946年-1949年 - Temporary resumption of the Shanghai Stock Exchange until the Communist takeover. 中华人民共和国在1949年成立.
1978年 - 邓小平让中国重新对外开放。
1981年 - Trading in treasury bonds were resumed.
1984年 - Company stocks and corporate bonds emerged in Shanghai and a few other cities.
1990年 - 新"上海证券交易所" opened in November 26 and began operation on 12月19日
2001年-2005年 - A four-year market slump which saw Shanghai's market value halved (after reaching a peak in 2001). A ban on new IPOs was put in April 2005 to curb the slump and allow more than US$200 billion of mostly state-owned equity to be converted to tradable shares.
2006年 - The SSE resumed full operation as the yearlong ban on IPOs was lifted in May. The world's largest ever (US$21.9 billion) IPO by the 中国工商银行 was launched in both Shanghai and Hong Kong stock markets.
2007年2月27日 - 上证指数暴跌接近9%on fears of capital controls.

[编辑] 组织

The securities listed at the SSE include the three main categories of stocks, bonds, and funds. Bonds traded on SSE include treasury bonds (T-bond), corporate bonds, and convertible corporate bonds. SSE T-bond market is the most active of its kind in China. There are two types of stocks being issued in the Shanghai Stock Exchange: A股和B股。 A股以当地的人民币元标价,而B股以美元标价. Initially, trading in A shares are restricted to domestic investors only while B shares are available to both domestic (since 2001) and foreign investors. 然而, after reforms were implemented in 2002年12月, foreign investors are now allowed (with limitations) to trade in A shares under the 合格境外机构投资者(QFII)系统. There is a plan to eventually merge the two types of shares.

[编辑] 市场数据

在2006年底，842家公司在上证所上市，上证所上市公司总市值达到71612亿元人民币。market capitalization

[编辑] Trading Summary for 2006

*Data updated on 29 December 2006*
	Stock listings	Market value (billion yuan)	Annual turnover value (billion yuan)
A股	832家	7,111.8	5,724.5
B股	54家	49.4	57.1
合计	886家	7,161.2	5,781.6

[编辑] 上海证券交易所前二十大市值的公司

Source: Shanghai Stock Exchange (market values in RMB/Chinese Yuan). Data arranged by market value. Updated on 15 January 2007

[编辑] 指数

主条目：上证指数

The SSE Composite Index is the most commonly used indicator to reflect SSE's market performance. Constituents for the SSE Composite Index are all listed stocks (A股和B股) at the 上海证券交易所. 上证指数的基准日期为1990年12月19日。The Base Period is the total market capitalization of all stocks of that day. 基准指数为100点。 The index was launched on 1991年 7月15日。2006年底，上证指数收报于2，675.47。上证所的其他一些重要的指数有上证50指数和上证180指数。

[编辑] Listing Requirements

According to the regulations of 《中华人民共和国证券法》和《中华人民共和国公司法》， limited companies applying for the listing of shares must meet the following criteria:

The shares must have been publicly issued following approval of the State Council Securities Management Department.
The company’s total share capital must not be less than RMB 50 million.
The company must have been in business for more than 3 years and have made profits over the last three consecutive years. This requirement also applies to former state-owned enterprises reincorporating as private or public enterprises. In the case of former state-owned enterprises re-established according to the law or founded after implementation of the law and if their issuers are large and medium state owned enterprises, it can be calculated consecutively. The number of shareholders with holdings of values reaching in excess of RMB 1,000 must not be less than 1,000 persons. Publicly offered shares must be more than 25% of the company’s total share capital. For company whose total share capital exceeds RMB 400 million, the ratio of publicly offered shares must be more than 15%.
The company must not have committed any major illegal activities or false accounting records in the last three years.

Other conditions stipulated by the State Council. The conditions for applications for the listing of shares by limited companies involved in high and new technology are set out separately by the State Council.