Sixteen companies listed on the Shanghai and Shenzhen stock exchange have reported losses for 1999, approximately one-fifth of the total number of companies (85) which reported losses in 1998, according to a securities trade newspaper.

Five of these sixteen companies are "ST" or "PT" stocks. Companies labeled "ST" have reported losses for three consecutive years and are in danger of becoming "PT" stocks, which have reported losses for three consecutive years and have been taken off the stock market.

Three of the sixteen companies reported losses for the first time, while the other thirteen companies have a record of reporting losses.