Przemiany na chińskim rynku akcji w latach 1990–2012

• Authors: Marszk Adam

Title variants

EN

The transformation of the Chinese stock market between 1990 and 2012

• Languages of publication: EN

Abstracts

EN

The main purpose of this paper is to examine the transformation of the stock market in the People’s Republic of China (i.e. concentrated on stock exchanges in Shanghai and Shenzhen; the stock exchange in Hong Kong was omitted) from its beginnings in the early 1990s, through rapid development over the next two decades, up to the financial crisis of 2008 (the period examined is 1990–2012). The paper presents a short history of the Chinese stock market before and after 1990. Other topics covered include unique stock classification system, comparison of the two stock exchanges, main market participants (including barriers for institutional and foreign investors), and legal/regulatory environment evolution. The next part of the paper consists of an analysis of the main stock market’s development indicators (in both absolute and relative terms). The findings conclude that, in the said period, Chinese stock market has undergone a deep transformation, especially when its size and liquidity are being considered. However, there are still many aspects in which it remains underdeveloped, particularly in the supervision system’s area.

Keywords

EN

emerging markets; stock market; market capitalization; market liquidity

• Publisher: Uniwersytet Gdański
• Journal: International Business and Global Economy
• Year: 2014
• Volume: Volume 33
• Pages: 340–351

Dates

online

2015-01-05

Contributors

author

Marszk Adam

Identifiers

DOI

10.4467/23539496IB.13.024.2409