What is the stock exchange for? Why are there only two stock exchanges in China?

1. The stock exchange is a tangible place for centralized securities trading, which is established with the approval of the government securities authorities in accordance with relevant national laws. There are two in China: Shanghai Stock Exchange and Shenzhen Stock Exchange.

1. The establishment and dissolution of a stock exchange shall be decided by the State Council. The application for the establishment of a stock exchange is first examined by the China Securities Regulatory Commission, and then submitted to the State Council for approval.

2, the establishment of a stock exchange must formulate articles of association. The formulation and revision of the articles of association of a stock exchange must be approved by the the State Council Securities Regulatory Authority.

3. A stock exchange must indicate the word stock exchange in its name. No other unit or individual may use a stock exchange or a similar name.

Second, why should the China stock market be divided into two exchanges:

Because at the time of 1990 and 199 1, stock market trading was not as convenient as it is now. Before, there was no telephone in Ji Tuo, and there was no online trading. Stocks were traded on the stock exchange, and Shenzhen and Shanghai were big cities with rapid development at that time, so it was convenient to open two exchanges at that time.

Shanghai is an established financial center, and Shenzhen is an emerging special economic zone. Finance is financial integration, and only when you have money can you develop. Shanghai and Shenzhen are the top leaders of the central government, and will eventually be the same side of the exchange.

Shanghai is mainly established state-owned enterprises+central enterprises and relatively large manufacturing enterprises, which is in line with the actual situation in Shanghai, while Shenzhen is a paradise for small and medium-sized enterprises, so most listed companies in Shenzhen are small and medium-sized enterprises and private enterprises.

Extended data:

(1) A stock exchange shall provide guarantee for organizing fair and centralized trading, publish real-time quotations for securities trading, and make a list of quotations in the securities market according to the trading day and publish it. Without the permission of the stock exchange, no unit or individual may publish the real-time quotation of securities trading.

(2) A stock exchange has the right to deal with the suspension, resumption or termination of listing of stocks and corporate bonds in accordance with laws, administrative regulations and the provisions of the the State Council securities regulatory authority.

(three) when the normal trading of securities is affected by unexpected events, the stock exchange may take technical suspension measures; A stock exchange may decide to suspend trading due to unexpected events of force majeure or in order to maintain the normal order of securities trading. When a stock exchange suspends trading technically or decides to suspend trading temporarily, it must report to the securities regulatory authority in the State Council in time.

(4) The stock exchange shall monitor the securities transactions in real time, and report abnormal transactions according to the requirements of the securities regulatory authority in the State Council.

A stock exchange shall supervise the information disclosure of listed companies and related information disclosure obligors, and urge them to disclose information timely and accurately according to law. A stock exchange may, when necessary, restrict the trading of securities accounts with major abnormal trading conditions and report to the the State Council Securities Regulatory Authority for the record.

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