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49-524: At present, Wenshan City has 3 subdistricts, 7 towns, 2 townships and 5 ethnic townships. One of the largest companies based in Wenshan County is the electric power supplier Yunnan Wenshan Electric Power Co., Ltd. It is listed on the Shanghai Stock Exchange . [1] The Wenshan Zinc Mine is known for producing world class, deep blue hemimorphite specimens. Wenshan is a producer of 'Sanchi',

98-769: A case of the coerced turning increasingly to coercion . Both the Republic of China , now controlling Taiwan, and the People's Republic of China , now controlling mainland China, consider the transfer of Taiwan to Japan to have been reversed by the Instrument of Surrender of Japan . Additionally, the Treaty of Shimonoseki is allegedly nullified by the Treaty of Taipei with the Republic of China. However, pro-independence activist Ng Chiau-tong argues that

147-504: A diplomatic solution (See Russian Dalian ) to the Chinese Empire, and agreed to a token lease of the region to save face, instead of annexing Manchuria outright, which was its effect. Within two years, Germany, France, and Great Britain had similarly taken advantage of the economic and political opportunities in the weak Chinese Empire (See Scramble for China ), each taking control of significant local regions. Japan also took note of how

196-522: A few weeks later on 19 December. The Shanghai Stock Exchange was under municipal control and termed an "experimental point" until 1997. In 1997, the central government brought the exchange (as well as the Shenzhen stock exchange) under central government control and affirmed that the exchanges had a legitimate role in the socialist market economy. In 2019, the Shanghai Stock Exchange launched

245-404: A plant with medicinal properties which grows away from daylight under huge plastic sheets. Due to its low latitude tempered by its high elevation, Wenshan has a mild humid subtropical climate ( Köppen Cwa ) with short, mild, dry winters and warm, rainy summers. Wenshan is situated in the so-called 'Valley of Eternal Spring'. Because it is on a plateau, temperatures are quite constant throughout

294-513: A series of uprisings culminated in the fall of the Qing dynasty itself in 1911. The Triple Intervention is regarded by many Japanese historians as being a crucial historic turning point in Japanese foreign affairs – from this point on, the nationalist, expansionist, and militant elements began to join ranks and steer Japan from a foreign policy based mainly on economic hegemony toward outright imperialism —

343-559: A weaker emerging nation not yet perceived as even a regional power — returned control of the territory and withdrew its de jure claim on the Liaodong Peninsula in return for an increased war indemnity from China of 30 million Taels . At that time, the European powers were not concerned with any of the other conditions, or the free hand Japan had been granted in Korea under the other terms of

392-434: Is already a province , and therefore not to be given away ( 臺灣已立一行省，不能送給他國 )." However, Imperial Japan had the military advantage, and eventually Li gave Taiwan up. On April 17, 1895, the peace treaty between Imperial Japan and the Qing dynasty had been signed and was followed by the successful Japanese invasion of Taiwan . This had a huge and lasting impact on Taiwan, the turning over of the island to Imperial Japan marking

441-520: Is closed on Saturday and Sunday and other holidays announced by the SSE. The SSE Composite Index (also known as Shanghai Composite) Index is the most commonly used indicator to reflect SSE's market performance. Constituents for the SSE Composite Index are all listed stocks (A shares and B shares) at the Shanghai Stock Exchange. The Base Day for the SSE Composite Index is December 19, 1990. The Base Period

490-439: Is open for trading every Monday to Friday from 09:15 to 15:00. 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 14:57. The centralized competitive pricing starts again from 14:57 to 15:00 and continues with block trading from 15:00 to 15:30. The market

539-601: Is the total market capitalization of all stocks of that day. The Base Value is 100. The index was launched on July 15, 1991. At the end of 2006, the index reaches 2,675.47. Other important indexes used in the Shanghai Stock Exchanges include the SSE 50 Index and SSE 180 Index . Source: Shanghai Stock Exchange (market values in RMB/Chinese Yuan). Data arranged by market value. Updated on Aug 27 2020. According to

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588-627: The Beijing Stock Exchange and the Shenzhen Stock Exchange . The Shanghai Stock Exchange is the world's third largest stock market by market capitalization . It is also Asia's biggest stock exchange. Unlike the Hong Kong Stock Exchange , the Shanghai Stock Exchange is still not entirely open to foreign investors and often affected by the decisions of the central government, due to capital account controls exercised by

637-662: The Chinese mainland authorities. In 1891, Shanghai founded China's first exchange system. The current stock exchange was re-established on November 26, 1990, and was in operation on December 19 of the same year. It is a non-profit organization directly administered by the China Securities Regulatory Commission (CSRC). The formation of the International Settlement (foreign concession areas) in Shanghai

686-527: The Communist revolution took place. After the Cultural Revolution ended and Deng Xiaoping rose to power, China was re-opened to the outside world in 1978. During the 1980s, China's securities market evolved in tandem with the country's economic reform and opening up and the development of socialist market economy . On 26 November 1990, the Shanghai Stock Exchange was re-established and operations began

735-525: The First Sino-Japanese War . Under the terms of the treaty, China lost suzerainty over Korea; ceded sovereignty of the Penghu (Pescadores) Islands, Taiwan (Formosa) and the Liaodong Peninsula to Japan; agreed to pay substantial war indemnities to Japan; and opened China to Japanese foreign trade. The peace conference took place from March 20 to April 17, 1895. This treaty followed and superseded

784-477: The Liaodong Peninsula . Li Hongzhang refused on the grounds that Taiwan had never been a battlefield during the first Sino-Japanese War between 1894 and 1895. By the final stage of the conference, while Li Hongzhang agreed to the transfer of full sovereignty of the Penghu islands and the portion of Liaodong to Imperial Japan, he still refused to hand over Taiwan. As Taiwan had been a province since 1885, Li stated, "Taiwan

833-495: The Sino-Japanese Friendship and Trade Treaty of 1871. The treaty ended the First Sino-Japanese War of 1894–1895 as a clear victory for Japan. China recognized the "full and complete independence and autonomy" of Joseon (the kingdom of Korea) and formally renounced China's traditional claims of imperial overlordship. The ceremonies in which Joseon acknowledged subordination to China were permanently abolished. In

882-569: The Taiwan islands . Moreover, Mutsu had already noticed its importance in order to expand Japanese military power towards South China and Southeast Asia. It was also the age of imperialism, so Japan wished to mimic what the Western nations were doing. Imperial Japan was seeking colonies and resources in the Korean Peninsula and mainland China to compete with the presence of Western powers at that time. This

931-628: The Treaty of Maguan ( Chinese : 馬關條約 ; pinyin : Mǎguān Tiáoyuē ; Pe̍h-ōe-jī : Má-koan Tiâu-iok ) in China and Treaty of Bakan ( Japanese : 馬關條約 , Hepburn : Bakan Jōyaku ) in the period before and during World War II in Japan, was an unequal treaty signed at the Shunpanrō  [ ja ] hotel, Shimonoseki , Japan on April 17, 1895, between the Empire of Japan and Qing China , ending

980-573: The Triple intervention , they paid another 30 million taels for a total of over 276,000,000 troy ounces (8,600 t) silver, worth about $ 5 billion US dollars in 2015. During the summit between Japanese and Qing representatives in March and April 1895, Prime Minister Itō Hirobumi and Foreign Minister Mutsu Munemitsu wanted to reduce the power of the Qing dynasty on not only the Korean Peninsula but also

1029-428: The emperor of Japan and Li Hongzhang and Li Jingfang on behalf of the emperor of China . Before the treaty was signed, Li Hongzhang was attacked by a right-wing Japanese extremist on 24 March: he was fired at and wounded on his way back to his lodgings at Injoji temple. The public outcry aroused by the assassination attempt caused the Japanese to temper their demands and agree to a temporary armistice. The conference

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1078-741: The Association applied for registration in Hong Kong under the provision of the Companies ordinance and was renamed as the "Shanghai Stock Exchange". The supply of securities came primarily from local companies. In the early days, banks dominated private shares but, by 1880, only the Hong Kong and Shanghai local banks remained. Later in 1920 and 1921, "Shanghai Securities & Commodities Exchange" and "Shanghai Chinese Merchant Exchange" started operation respectively. An amalgamation eventually took place in 1929, and

1127-674: The Liaodong peninsula was granted de jure to Russia by China along with an increase in other rights she had obtained in Manchuria (especially those in Jilin and Heilongjiang provinces) the construction of the 550 mile Southern spurline of the Manchurian Railway was redoubled. Russia finally seemed to have gotten what the Russian Empire had been wanting in its quest to become a global power since

1176-528: The Qing dynasty, originally did not plan to cede Taiwan because they also realized Taiwan's great location for trading with the West. Therefore, even though the Qing had lost wars against Britain and France in the 19th century, the Qing emperor was serious about keeping Taiwan under its rule, which began in 1683. On March 20, 1895, at Shunpanrō ( 春帆楼 ) in Shimonoseki in Japan, a one month long peace conference began. At

1225-546: 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 were US$ 30 billion and increased to US$ 80 billion as of April, 2012. There has been a plan to eventually merge the two types of shares in the future. The SSE

1274-511: The STAR Market, featuring only technology-related companies, as a rival to the NASDAQ . 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

1323-568: 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 is 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

1372-922: The State Council. The SSE is housed at the Shanghai Securities Exchange Building since 1997. The Shanghai Stock Exchange owns a 40% stake in the Pakistan Stock Exchange (PSX) . PSX is integrated with China's stock market through the China Connect Interface, allowing Chinese investors to more easily enter Pakistan's stock markets. The Shanghai Stock Exchange is a part owner of the Astana International Financial Centre . Treaty of Shimonoseki The Treaty of Shimonoseki ( Japanese : 下関条約 , Hepburn : Shimonoseki Jōyaku ) , also known as

1421-572: The Treaty of Shimonoseki. This would prove to be a mistake, as Japan would end up occupying Korea by 1905 and expand into Russia's sphere of influence with the Russo-Japanese war , and then encroach upon Germany's port in Shandong during World War I. Within months after Japan returned the Liaodong peninsula, Russia started construction on the peninsula and a railway to Harbin from Port Arthur , despite Chinese protests. Eventually, Russia agreed to offer

1470-530: The Treaty was considered a national humiliation by the bureaucracy and greatly weakened support for the Qing dynasty. The previous decades of the Self-Strengthening Movement were considered to be a failure, and support grew for more radical changes in China's political and social systems which led to Hundred Days' Reform in 1898. When the latter movement failed due to resistance from the Manchu nobility,

1519-474: The combined markets operated thereafter as the "Shanghai Stock Exchange". Shipping, insurance, and docks persisted to 1940 but were overshadowed by industrial shares after the Treaty of Shimonoseki of 1895, which permitted Japan , and by extension other nations which had treaties with China, to establish factories in Shanghai and other treaty ports. Rubber plantations became the staple of stock trading beginning in

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1568-455: The conditions conducive to the emergence of a share market: several banks, a legal framework for joint-stock companies , and an interest in diversification among the established trading houses (although the trading houses themselves remained partnerships). In the 1880s and 1890s, during the boom in mining shares, foreign businessmen founded the "Shanghai Sharebrokers' Association" headquartered in Shanghai as China's first stock exchange. In 1904,

1617-550: The end of 200 years of Qing rule despite local resistance in Taiwan against the annexation , which was quashed swiftly by the Japanese. Therefore, Taiwan was under Japanese rule from 1895 to 1945, until the end of World War II by the surrender of Japan . The treaty was drafted with John W. Foster , former American secretary of state, advising the Qing Empire . It was signed by Count Itō Hirobumi and Viscount Mutsu Munemitsu for

1666-461: The first half of the conference, Ito and Li talked mainly about a cease-fire agreement, and during the second half of the conference, the contents of the peace treaty were discussed. Ito and Mutsu claimed that yielding the full sovereignty of Taiwan was an absolute condition and requested Li to hand over full sovereignty of the Penghu Islands and the eastern portion of the bay at the southern tip of

1715-578: The geopolitical reality in ignoring the free hand Japan had been granted by the Treaty (of Shimonoseki) with respect to Korea and Taiwan was short-sighted of Russia with respect to its strategic goals; to get to and maintain a strong point in Port Arthur Russia would have to dominate and control many additional hundreds of miles of Eastern Manchuria (the Fengtian province of Imperial China, modern Jilin and Heilongjiang) up to Harbin. Japan had long considered

1764-514: The international community allowed the great powers to treat weaker nation states, and continued its remarkable measures to bootstrap itself into a modern industrial state and military power, with great success as it would demonstrate in the Russo-Japanese War less than a decade later. In Taiwan, pro-Qing officials and elements of the local gentry declared a Republic of Formosa in 1895, but failed to win international recognition. In China,

1813-482: The lands paralleling the whole Korean border as part of its strategic sphere of influence . By leasing Liaodong and railway concessions, Russia crashed its Sphere of Influence squarely into Japan's. This acted as a further goad to emerging Japanese anger at their disrespectful treatment by all the West. In the immediate fallout of the Triple Intervention , Japanese popular resentment at Russia's deviousness and

1862-605: The next year, the Yeongeunmun gate outside Seoul , where those ceremonies were performed, was demolished leaving its two stone pillars. China ceded to Japan the Island of Taiwan , the Penghu Islands , and the Liaodong Peninsula in the southern part of present-day Liaoning province (including the city of Dalian ). However, Liaodong was subsequently returned to Qing dynasty due to diplomatic intervention of Russia, Germany, and France , which forced Japan to back down and withdraw from

1911-495: The peninsula in the same year. China paid Japan a war indemnity of 200 million Kuping taels, paid over seven years. China opened various ports and rivers to Japanese trade, and granted Japan the same status regarding trade as various western powers had gained in the aftermath of the First and Second Opium Wars . Qing China's indemnity to Japan of 200 million silver Kuping taels, or about 240,000,000 troy ounces (7,500 t). After

1960-472: The perceived weakness of its own government caving in to foreign pressure led to riots in Tokyo. The disturbance almost brought down the government, as well as a strengthening of imperial and expansionist factions within Japan. The Russian spear into the sphere also brought about the ensuing struggle with Russia for dominance in Korea and Manchuria. These events eventually led to the Russo-Japanese War of 1904–1905 by

2009-409: The rail route to Russia's principal Pacific Ocean naval base at Vladivostok , a port closed by ice four months of each year. Russia also improved the port facilities at Port Arthur and founded a commercial town nearby at Dalniy (modern-day Dalian , which now encompasses Port Arthur as its Lüshunkou District ), before inking the lease of the territory . When the de facto governance of Port Arthur and

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2058-464: The regulations of Securities Law of the People’s Republic of China and Company Law of the People’s Republic of China , limited companies applying for the listing of shares must meet the following criteria: Other conditions stipulated by the State Council. The conditions for applications for the listing of shares by limited companies involved in high and new technology are set out separately by

2107-511: The reign of Peter the Great . This ice-free natural harbor of Port Arthur/Lüshun would serve to make Russia a great sea as well as the largest land power. Russia needed this ice-free port to achieve world power status as it was tired of being blocked by the balance of power politics in Europe (The Ottoman Empire and its allies had repeatedly frustrated Russian power fruition). However, the omission of

2156-618: The second decade of the 20th century. By the 1930s, Shanghai had emerged as the financial center of the Far East , where both Chinese and foreign investors could trade stocks, debentures , government bonds, and futures . The operation of Shanghai Stock Exchange came to an abrupt halt after Japanese troops occupied the Shanghai International Settlement on December 8, 1941. In 1946, the Shanghai Stock Exchange resumed its operations before closing again 3 years later in 1949, after

2205-534: The terms subject to nullification should be limited to those not entirely fulfilled yet, to the exclusion of the cession provision. The People's Republic of China does not recognize the Treaty of Taipei. Russia wasted little time after the Triple Intervention to move men and materials down into the Liaodong to start building a railroad from both ends — Port Arthur and Harbin , as it already had railway construction in progress across northern Manchuria to shorten

2254-412: The year, with more precipitations during the summer months. This Yunnan location article is a stub . You can help Misplaced Pages by expanding it . Shanghai Stock Exchange The Shanghai Stock Exchange ( Chinese : 上海证券交易所 , SSE ) is a stock exchange based in the city of Shanghai , China. It is one of the three stock exchanges operating independently in mainland China , the others being

2303-834: Was temporarily adjourned and resumed on 10 April. The conditions imposed by Japan on China led to the Triple Intervention of Russia, France, and Germany, western powers all active in China, with established enclaves and ports, just six days after its signing. They demanded that Japan withdraw its claim on the Liaodong peninsula , concerned that Lüshun , then called Port Arthur by Westerners, would fall under Japanese control. Tsar Nicholas II of Russia (an ally of France) and his imperial advisors, including Kaiser Wilhelm II of Germany , had designs on Port Arthur, which could serve as Russia's long sought-after 'ice-free' port. Under threat of war from three Western political powers, in November 1895, Japan —

2352-638: Was the result of the Treaty of Nanking of 1842 (which ended the First Opium War ) and subsequent agreements between the Chinese and foreign governments were crucial to the development of foreign trade in China and of the foreign community in Shanghai. The market for securities trading in Shanghai begins in the late 1860s. The first shares list appeared in June 1866 and by then Shanghai's International Settlement had developed

2401-410: Was the way the Japanese leadership chose to illustrate how fast Imperial Japan had advanced compared to the West since the 1867 Meiji Restoration , and the extent it wanted to amend the unequal treaties that were held in the Far East by the Western powers. At the peace conference between Imperial Japan and the Qing dynasty, Li Hongzhang and Li Jingfang , the ambassadors at the negotiation desk of

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