This Day, That Year: Nov 27

Editor's note: This year marks the 70th anniversary of the founding of New China.

In November 1990, the Shanghai Stock Exchange was established. Governed by the China Securities Regulatory Commission, it started formal operations one month later.

In July 1991, the Shanghai Stock Exchange Composite Index was launched, which aims to measure market performance.

It is comprised of listed stocks, both A and B shares, on the Shanghai Stock Exchange.

In May 1992, the Shanghai exchange decided to fully deregulate the stock prices for free competitive bidding. The stock prices were then solely driven by the market which caused them to rise by about 570 percent in only three days. That is considered to be one of the most important days in the country's stock market.

An item from Aug 24, 1992, in China Daily showed investors in Beijing buying bonds to help build Shanghai's Pudong construction and development zone.

On Nov 16, 2001, stamp duties on both A and B share trading were reduced to 0.2 percent. The reduction was meant to encourage investors to trade stocks on the Shanghai Stock Exchange.

In 2007, the Chinese market developed rapidly. Trading volume on the Shanghai Stock Exchange reached a new high, with $271 billion worth of shares traded and nearly 21 billion shares changing hands on May 30. The composite index hit its all-time high of 6,124.04 points on Oct 16, 2007.

The Shanghai exchange was allowed to offer short-selling and margin trading starting in 2010 to deepen and diversify investor participation.

In 2014, the Shanghai-Hong Kong Stock Connect program was launched. This allowed trading of Hong Kong-listed companies and Shanghai-listed A shares.

As the first initiative of its kind, the program created a brand-new model and has achieved great success in the country's financial innovation.

In June, the Shanghai-London Stock Connect was launched in the United Kingdom's capital, offering more opportunities for British and Chinese financial institutions to buy into each others' economic development.

The connect, a two-way depository receipt mechanism, brings together the Shanghai Stock Exchange with the London Stock Exchange.