China's stock markets closed its first trading session of the new millennium on January 4 without any glitches caused by the Y2K bug, sources from the China Securities Regulatory Commission said.

The sources said this shows that efforts made by the securities sector in the last two years to kill the millennium bug have paid off.

He added, however, that the final word will be in only after the Shanghai and Shenzhen stock exchanges finish the settlement of today's transactions.