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BIZCHINA / Center |
China's stock market value reaches new high(Xinhua)
Updated: 2007-10-06 09:36 The total market value of stock on the Shanghai and Shenzhen bourses has recorded 25.3 trillion yuan (US$3.37 trillion) by the last trading day before the weeklong National Day holiday, 1.2 times of China's GDP in 2006, according to figures from the two stock exchanges. Market value of the bigger Shanghai stock market stood at 19.6 trillion yuan while that of the Shenzhen market came to 5.7 trillion yuan. Market capitalization, or market cap, the market value of all companies' outstanding shares, rose to 8.6 trillion yuan, statistics show. By September 28, a total of 1,479 companies with 1,583 stocks were traded on the two bourses. China's equity markets raised 425.04 billion yuan in total through initial and secondary public offerings in the first nine months of this year, China Securities Journal has reported. The figure surpassed the 423.89 billion yuan in combined funds raised on the markets from 2002 to 2006. Chinese shares rose 2.64 percent to close at a new record of 5,552.30 points on September 28, the last trading day before the current seven-day National Day holidays.
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