Milestones for the launch of China's GEB

Time

Events

  Oct 30, 2009  Trading on the GEB starts.   Oct 23, 2009  Launching ceremony of GEB.  Sept 17, 2009  Seven companies entered the primary IPO review procedures.  Aug 14, 2009  The country's first issuance examination committee was established.  July 26, 2009  The CSRC started to accept applications for listing on the GEB.  July 15, 2009  Investors were allowed to open accounts for investing on the GEB.  June 5, 2009  The Shenzhen Stock Exchange issued the final version of the rules for listing on the GEB, which took effect on July 1, 2009.  May 8, 2009  The Shenzhen Stock Exchange issued draft rules for listing on the GEB and  solicited public opinion.  March 31, 2009  The CSRC issued the final version of the rules of an initial public offering and  listing on the GEB, which took effect on May 1, 2009.  March 2008  The CSRC issued draft rules for an initial public offering and for listing on the  GEB and started to solicit public opinion.  Aug 2007  Fan Fuchun, vice-chairman of the CSRC, said the GEB will be launched as soon  as possible. The State Council approved draft rules for listing on the GEB.  March 2007  The Shenzhen Stock Exchange said technical preparation for the GEB was  ready.  May 2004  The Shenzhen Stock Exchange established the small and medium-sized  enterprise (SME) board, which was seen as an important step toward the  construction of the GEB.  Feb 2004  The State Council decided to establish a multi-layer capital market system and  set up the GEB incrementally in order to finance different kinds of enterprises.  Oct 2003  The State Council said China would promote the construction of the GEB and  venture capital industry.  Nov 2002  The Shenzhen Stock Exchange handed in a proposal to the CSRC and  suggested the CSRC set up the GEB step-by-step.  Nov 2001  The Nasdaq index plunged and the bubble of technology stocks burst around the  world. The world's main stock market fell and the launch of China's GEB was  suspended.  Oct 2000  The Shenzhen Stock Exchange started soliciting opinion from the society on the  GEB rules.  Sept 2000  The Shenzhen Stock Exchange stopped issuing new stocks on the main board  and was intensely preparing for setting up the GEB.  May 2000  Gao Xiqing, vice-chairman of the CSRC at the time, said the second board was  expected to be launched within the year.  April 2000  Zhou Xiaochuan, chairman of the CSRC at the time, said the CSRC was fully  prepared to set up China's second board and once the law and technology were  ready China would launch the second board as soon as possible.  Aug 1999  The State Council said in a report promoting the country's technology  development that a hi-tech enterprises board would be set up at the Shanghai and  Shenzhen stock exchanges at the right time.  March 1999  The CSRC said for the first time that it "was considering setting up a hi-tech  enterprises board on the Shanghai and Shenzhen stock exchanges".  Jan 1999  The Shenzhen Stock Exchange handed in a proposal to the CSRC to start  analyzing the establishment of the GEB.  Dec 1998  China's State Planning Commission proposed to the State Council to "analyze  the issue of setting up a stock market for growth enterprises as soon as  possible".  Aug 1998  Zhou Zhengqing, who was then chairman of the China Securities Regulatory  Commission (CSRC), said at an inspection visit to the Shenzhen Stock  Exchange that a hi-tech board should be formed to promote the development of  hi-tech companies.  March 1998  The China Democratic National Construction Association proposed to the 9th  National Committee of the Chinese People's Political Consultative Conference  that the development of China's venture capital industry be strengthened. This  was seen as the initial phase to setting up China's GEB.