Transformation and Renewal:The Old and New Tianjin Stock Exchanges
The Tianjin Stock Exchange,established in 1948,implemented a series of institutional regulations in areas such as stock listing,standardized trading,and credit management.With the accelerated liberation of Tianjin and the chaotic currency system created by the Nationalist Government,the Tianjin Stock Exchange lost its foundation and eventually exited the market.After the Communist Party of China took over the Tianjin Financial Management Bureau,it established the new Tianjin Stock Exchange on June 1,1949,based on the acquisition of public assets and retention of some original staff from the old Tianjin Stock Exchange.The new exchange continued the approval-based system for stock listings,emphasized broker credit management,prohibited off-market trading and speculation manipulation,and operated in a state-owned format.It established the Tianjin Branch's Office of People's Bank of China to guide speculative capital and support the economic development in the liberated areas.After the National Financial Joint Conference in 1950,the establishment of investment companies and creation of a long-term capital market became important aspects of China's financial policy reforms.The new Tianjin Stock Exchange was then timely replaced by the Tianjin Investment Corporation,whose securities trading service department adopted a real buying and selling approach,abolished the broker system and supported the development of the real economy.The new Tianjin Stock Exchange was the first stock exchange in the People's Republic of China.
City TakeoverTianjin Stock ExchangeCredit ManagementRed Finance
NETL
NSTL
万方数据
