On November 26, the Shanghai Stock Exchange (SSE) celebrates its 35th anniversary. Launched in 1990 as the first securities exchange approved in the Chinese mainland, the SSE has evolved from a modest trading venue with 30 listed securities into a global powerhouse.
When the SSE opened its doors in 1990, it listed just 30 stocks. Fast forward to today, and the exchange hosts over 2,300 companies, boasting a combined market capitalization in excess of 60 trillion yuan (about $8.5 trillion). Its product lineup now spans equities, bonds, ETFs, REITs and the pioneering STAR Market dedicated to high-tech and strategic emerging sectors.
A key turning point came in 2014 with the launch of the Shanghai–Hong Kong Stock Connect. This program broke new ground in cross-border trading, allowing overseas investors to tap into A-shares via Hong Kong. It also paved the way for global benchmark providers like MSCI, FTSE Russell and S&P Dow Jones to increase A-share inclusion in their indices.
In 2019, the SSE took internationalization a step further by unveiling the STAR Market and the Shanghai–London Stock Connect. The STAR Market introduced a registration-based IPO model tailored for sectors like advanced manufacturing, semiconductors, biomedicine and artificial intelligence. Meanwhile, the London link enabled companies to issue depository receipts across the two financial centers.
As the SSE enters its fourth decade, it stands at the intersection of innovation and global integration. For young investors, entrepreneurs and changemakers, its evolution offers a blueprint for how a capital market can adapt, open up and drive growth in the digital age.
Reference(s):
cgtn.com
