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From village collectives in Southern China in the early 1980s to the summer 1999 share rally, this volume provides a guide to 20 years of China's stock markets. The book analyzes the changes that have occurred in all areas of China's securities business including legal, regulatory, share structure, issuers, investor base and market performance. Topics are placed in the context of the industry's overall development to highlight the market's current situation as China enters the new century.