Ltd ("*ST Canghua") was incorporated by means of sponsorship in March 1994-In June 1996, *ST Canghua made its initial public offering and its shares were publicly traded on the SHSE.
According to the Listing Rules of the SHSE, if *ST Canghua continued to produce losses through the end of 2007, which would have been the third consecutive year of losses, its share trading would be suspended.
The sample used in this study consists of 1203 firms listed on the SHSE
or SZSE in China during 1999-2002.
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.
As shown in Table 1 Penal A, seven of the 11 years for the SHSE "A" share index, six of the 10 years for the SHSE "B" share index show positive May return.
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 (CSRC, 2000).
We chose SHSE and SZSE A-share indexes as the market portfolio for A-share companies in these two markets, respectively.
As of May 1999, there are more than 900 companies listed on SHSE and SZSE, and 80 of them issued both A shares and B shares.
The reorganized date refers to the date that the Chinese government allowed the State-owned enterprise to reorganize as a corporate limited company, and the listing date is the date that its stocks are first offered at the SHSE or SZSE.
Akummulyatornaya traction battery 48V on Electric Forklift HELI CPD 20, the serial number 05020A9288F2 filled and charged, the dimensions (LWH) 480 * 1000 * 670mm without SHSE
As of December 2001, there are 255 SHSE members (112 are securities firms and 143 are nonsecurities firms) in Mainland China.
Individuals are allowed to open only one brokerage account at any one branch in order to trade SHSE stocks, and the account is opened using their National Identity Card.