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Chinese Firms Raise 142 Billion Yuan on Domestic Stock Market in 2000
Chinese enterprises raised a total of 141.7 billion yuan (some US$17 billion) on the domestic stock market during the year 2000, up nearly 65 percent on the previous year.
This is the first time China's stock market has raised over 100 billion yuan in one year, statistics prepared by Guotai-Jun'an Securities Research Institute show.
According to the statistics, among the new stocks issued in the year 2000, Baoshan Steel was the most eye-catching -- its total capital stock, circulating stock capital and net volume of money collected reached 12.5 billion yuan, 1.87 billion yuan and 7.72 billion yuan respectively (8.27 yuan equals to one US dollar), all record highs in China.
Experts attribute the boom of the stock market in China to the increase of institutional investors last year. In the first half of the year 2000, the number of such investors in Shanghai and Shenzhen totaled over 45,000.
In 1992, China's stock market raised only 9.4 billion yuan.
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