Chart 1 below reflects the number of listed companies that have filed for reorganization from 2007 through February 2017-Of these forty-seven companies, twenty-eight were listed on the SZSE
and nineteen on the SHSE exchange.
It is also necessary to realize that the Chinese share market performed very poorly in 2011, with the combined index of SSEI and SZSE
declined by more than 20 percent in a year.
The latter have accounts-level data of a single brokerage firm and focus only on individual investors' trades of SZSE
stocks executed through seven branches of this firm.
For example, seven of the 11 years for the SHSE "A" share index, seven of the 10 years for the SHSE "B" share index, five and six of the nine years for the SZSE
"A" and "B" share indices show negative July returns.
Nonetheless, the average and median of state ownership in our sample are both about 30 percent (see Table 1, Panel A), which is similar to the reported average level of state shareholding for all companies listed in the SHSE and SZSE
The trading of shares on all the exchanges (SSE, SZSE
, STAQS and NETS) is through an electronic auto-matching process, in which transactions are settled only for those brokers who offer the same bid and ask prices.
In his speech to welcome the guests from SZSE
, Monzon said: 'We were greatly inspired at how you were able to transform your exchange to become one of the world's leading bourses.
The sample used in this study consists of 1203 firms listed on the SHSE or SZSE
in China during 1999-2002.
Upon approval by the State, Chinese companies can issue two types of shares at SHSE or SZSE
to raise equity capital: "A" shares are owned and traded by Chinese domestic investors, and "B" shares are owned and traded by foreign investors in US dollars at SHSE or HK dollars at SZSE
No single entity can own more than 5 percent of PSE so in case SZSE
decides to invest, it can only buy up to 5 percent.
In a presentation before the Shareholders Association of the Philippines (SharePHIL) yesterday, PSE president Ramon Monzon mentioned the possibility of forming a tie-up with SZSE
to establish a cross-border trading linkage or 'Shenzhen Connect.
named Mr Mao to the board of China Exchanges Services Company Limited (CESC), HKEx's partnership with Shanghai and Shenzhen stock exchanges, when CESC was put up later and he subsequently became one of CESC's co-chairmen.