Raging bulls: China's stockmarket craze catches on in provinces

Article Abstract:

Interest in China's Shanghai and Shenzhen stockmarkets has spread beyond those two cities to such places as Changsha, capital of Hunan province. Tens of thousands of new investors are buying stocks every week, with the number of investors living outside Shanghai and Shenzhen now being greater than the number living inside. This surge in speculation has helped the Shanghai market to double its 1992 volume in the 1st qtr of 1993. Low bank deposit rates and raging inflation are prompting many ordinary Chinese to invest their considerable savings in stocks with their usually superior returns.

Investments, Chinese, Chinese (Asian people)

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Irrational rationing

Article Abstract:

China's experiment in stock markets has initially led to anarchy as eager investors battled for a very limited number of shares culminating in violence. This situation has occurred in Shenzhen where police had to be called in to restore order. China's population of a more than a billion has savings equivalent to US$185 billion. This amount is usually kept in bank savings or hoarded as cash in homes. With the introduction of the stock exchange mechanism, these savings are ready to be invested. The government needs to create a rational allocation system to cope with the demand.

Security and commodity exchanges, Securities

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Mao fever enriches his home town

Article Abstract:

China's late communist leader, Mao Zedong, is still venerated in China and particularly in his birthplace, the village of Shaoshan in Hunan Province. Benefitting from a wave of Maoist fever that swept over China after the democracy movement was crushed in Jun 1989, entrepreneurs have turned the selling of Mao-related mementos and souvenirs into a major industry. Business is brisk since 1993 is the centenary of Mao's birth. However, even Mao's most fervent admirers are committed to economic reform.

Influence, Centennial celebrations, Centennial celebrations, etc., Mao Zedong, Shaoshan, China

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