The Stock Exchange Executive Council (SEEC) of the People's Republic of China was established to improve the efficiency of the securities market in mainland China.
According to research by Nottle (1993), the re-emergence of securities markets commenced under the introduction of the economic reform programme. The initiative was announced by then party Vice Premier Deng Xiaoping in 1978; under the plan market forces would be brought to bear on the Chinese economy and China's "doors would be opened" to foreign capital and entrepreneurs.
Under this economic reform, a number of experiments have been conducted over the part decades in order to facilitate the development of securities markets.
- September 1984, the first joint stock company and then one was commenced in Shanghai in 1985 and in Shenzhen in 1987
- Another experiment consisted of establishing securities trading markets such as, over-the-counter (OTC) market for shares and bonds was established in 1986.
To further improve the economic efficiency of the Chinese securities markets, eventually the Stock Exchange Executive Council (SEEC) was formed in March 1989 to create a nationwide treasury bond trading system (Securities Trading Automated Quotations System (STAQs) which was established on December 1990.
Famous quotes containing the words stock, exchange, executive and/or council:
“And anyone is free to condemn me to death
If he leaves it to nature to carry out the sentence.
I shall will to the common stock of air my breath
And pay a death tax of fairly polite repentance.”
—Robert Frost (1874–1963)
“To coöperate in the highest as well as the lowest sense, means to get our living together. I heard it proposed lately that two young men should travel together over the world, the one without money, earning his means as he went, before the mast and behind the plow, the other carrying a bill of exchange in his pocket. It was easy to see that they could not long be companions or coöperate, since one would not operate at all. They would part at the first interesting crisis in their adventures.”
—Henry David Thoreau (1817–1862)
“It’s given new meaning to me of the scientific term black hole.”
—Don Logan, U.S. businessman, president and chief executive of Time Inc. His response when asked how much his company had spent in the last year to develop Pathfinder, Time Inc.’S site on the World Wide Web. Quoted in New York Times, p. D7 (November 13, 1995)
“I haven’t seen so much tippy-toeing around since the last time I went to the ballet. When members of the arts community were asked this week about one of their biggest benefactors, Philip Morris, and its requests that they lobby the New York City Council on the company’s behalf, the pas de deux of self- justification was so painstakingly choreographed that it constituted a performance all by itself.”
—Anna Quindlen (b. 1952)