Structure
See also: Qualified Foreign Institutional Investor| Shanghai Stock Exchange | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Chinese | 上海证券交易所 | ||||||||||||
|
|||||||||||||
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" shares and "B" shares. A shares are priced in the local renminbi yuan currency, while B shares are quoted in U.S. dollars. Initially, trading in A shares are restricted to domestic investors only while B shares are available to both domestic (since 2001) and foreign investors. However, after reforms were implemented in December 2002, foreign investors are now allowed (with limitations) to trade in A shares under the Qualified Foreign Institutional Investor (QFII) program which was officially launched in 2003. Currently, a total of 98 foreign institutional investors have been approved to buy and sell A shares under the QFII program. Quotas under the QFII program are currently US$30 billion. There has been a plan to eventually merge the two types of shares in the future.
The SSE is open for trading every Monday to Friday. The morning session begins with centralized competitive pricing from 09:15 to 09:25, and continues with consecutive bidding from 09:30 to 11:30. This is followed by the afternoon consecutive bidding session, which starts from 13:00 to 15:00. The market is closed on Saturday and Sunday and other holidays announced by the SSE.
| Holiday Schedule Shanghai Stock Exchange 2010 |
|||
| Holiday | From | To | No. of days (excluding Saturday and Sunday) |
|---|---|---|---|
| New Year | 1 January 2010 (Friday) | 1 January 2010 (Friday) | 1
DAY |
| Chinese New Year | 15 February 2010 (Monday) | 19 February 2010 (Friday) | 5 DAYS |
| Qingming Festival | 5 April 2010 (Monday) | 5 April 2010 (Monday) | 1 DAY |
| Labor Day | 3 May 2010 (Monday) | 3 May 2010 (Monday) | 1 DAY |
| Duanwu Festival | 14 June 2010 (Monday) | 16 June 2010 (Wednesday) | 3 DAYS |
| Mid-Autumn Festival | 22 September 2010 (Wednesday) | 24 September 2010 (Friday) | 3 DAYS |
| National Day | 1 October 2010 (Friday) | 7 October 2010 (Thursday) | 5 DAYS |
| Note: The above dates are inclusive and all Saturdays and Sundays are non-trading days. | |||
Read more about this topic: Shanghai Stock Exchange
Famous quotes containing the word structure:
“Vashtar: So it’s finished. A structure to house one man and the greatest treasure of all time.
Senta: And a structure that will last for all time.
Vashtar: Only history will tell that.
Senta: Sire, will he not be remembered?
Vashtar: Yes, he’ll be remembered. The pyramid’ll keep his memory alive. In that he built better than he knew.”
—William Faulkner (1897–1962)
“Just as a new scientific discovery manifests something that was already latent in the order of nature, and at the same time is logically related to the total structure of the existing science, so the new poem manifests something that was already latent in the order of words.”
—Northrop Frye (b. 1912)
“The question is still asked of women: “How do you propose to answer the need for child care?” That is an obvious attempt to structure conflict in the old terms. The questions are rather: “If we as a human community want children, how does the total society propose to provide for them?””
—Jean Baker Miller (20th century)