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Shanghai is the place to explore the new China economic system: the first state-owned company in New China, "public-private partnership", opened a new situation in the market economy, and the first foreign-funded enterprise settled here … …

On the occasion of the 70th anniversary of the founding of New China, Interface News cooperated with Shanghai Local Records Office, and invited Ma Xuexin, former director of the Institute of Contemporary Shanghai, as a consultant to review the 70-year "entrepreneurial history" of Shanghai and review 100 important moments of Shanghai’s economic development. Looking back at the key nodes that have laid the contemporary economic structure and system in China from the endless tide is both a tribute and a reflection.

First, everything needs to be done (1949-1963)

Second, hard exploration (1964-1977)

Third, the spring breeze of reform swept the land (1978-1992)

Recovering from the turmoil of the Cultural Revolution, Shanghai’s economy, generate, showed new vitality. With the help of the spring tide of reform and opening up, Shanghai is determined to innovate in social and economic forms and has formed a number of valuable experiences that have influenced it to this day.

28. Shanghai Baosteel was born.

At the beginning of 1977, Shanghai industry faced a serious iron deficiency dilemma, with an iron deficiency of 3 million tons. On March 11th, 1978, the State Council decided to build a new steel plant in Baoshan County. As the Cultural Revolution has just ended and the national economy is still in difficulties, the new construction of Baosteel has been questioned by all sectors of society.

From May to June, 1979, Chen Yun, then vice chairman of the Central Committee of the Communist Party of China and director of the the State Council Financial and Economic Committee, conducted a special investigation and many discussions on Baosteel for nearly one and a half months. He thought that the establishment of Baosteel was "basically feasible" and demanded "taking Baosteel’s construction as an example, summing up experience and making a typical example of introducing foreign capital, technology and compensation trade."　

On November 26th, 1985, the first phase project of Baosteel was officially put into production. The Central Committee of the Communist Party of China and the State Council sent congratulatory messages: "The completion and commissioning of the first phase of Baoshan Iron and Steel General Plant is another great achievement in China’s socialist modernization drive. This is of great significance to improving the production technology and management level of China’s iron and steel industry, promoting the development of the national economy and accelerating China’s socialist modernization. "

29. Ruijin Hospital successfully performed the first heart transplant operation in China.

On April 21, 1978, Zhang Shize and Fang Lide, thoracic surgeons of Shanghai Ruijin Hospital, stood on the operating table, and a precious heart donor removed by Dr. Zhou Sibo 3.5 hours ago was delivered to them. The operation lasted for 6 hours and 15 minutes, including 2 hours and 22 minutes of cardiopulmonary bypass, 69 minutes and 28 seconds for cardiovascular suture, and 26 hours of ventilator support after operation.

With the cooperation and support of the surgical team, the Thoracic Surgery Department of Ruijin Hospital completed the first human orthotopic heart transplant in China, which is also the first heart transplant in Asia.

Today, China’s organ transplantation technology has been at the world’s leading level. The establishment of this position is largely due to the bold attempts of Shanghai medical workers in the field of organ transplantation exploration more than 40 years ago.

30. Delivery of China 10,000-ton ocean-going freighter Shaoxing for the first time.

On September 23, 1978, the 10,000-ton ocean-going freighter Shaoxing built by Shanghai Shipyard was delivered to China-Poland Shipping Company. Shaoxing is a 10,000-ton ocean-going freighter exported for China for the first time, earning 11.51 million US dollars for the country. In September, the first international container route at Shanghai Port was opened. On 23rd of the following month, Xiang Yanghong 09, the largest marine survey ship in China, was built in Shanghai.

31. The first TV advertisement in China was broadcast in Shanghai.

At 6 pm on March 15th, 1979, the advertisement of "Radar Watch" was broadcast on Shanghai TV Station. Due to time and operation, the advertisement is explained in English with Chinese subtitles. At that time, there were few people who knew English in China, but within three days, more than 700 consumers went to Huangpu District shopping mall to ask about "Radar Watch".

According to Zheng Shijue, vice president of China District of Swiss Radar Watch, "China was not fully open at that time, but it had great potential to be tapped. Radar watches strive to be the first person in the market, and build a high brand awareness with less resources and time without competitors. "

In that year, Shanghai began to attract foreign investment, conduct small and medium-sized compensation trade, introduce technology and equipment, attract foreign direct investment, and set up joint ventures or cooperative enterprises. By 1983, Shanghai had built productive projects, such as Schindler Company of China and Foxboro Company.

32. The freighter Linhai Liu made its maiden voyage from Shanghai to Seattle, USA.

On March 25th, 1979, China Ocean Shipping Company Shanghai Branch "Linhai Liu" set sail from Shanghai for the United States, and resumed the Sino-US sea route which had been interrupted for 30 years.

The cargo ship "Linhai Liu" was built in Norway in 1971 and later purchased by China. It is famous as the China ocean-going ship that made its first voyage to the United States after the resumption of diplomatic relations between China and the United States. In January 1979, China and the United States formally established diplomatic relations. In February of the same year, COSCO Corporation signed an agreement with Lex Company, and COSCO Corporation and Lex Company each sent a ship to the other country. On March 25th, 1979, the first cosco freighter "Linhai Liu" flying National Flag of the People’s Republic of China set off from Shanghai Port and crossed the Pacific Ocean, and arrived at Seattle Port in the United States on April 18th.

The American government attached great importance to this maiden voyage and held a grand welcoming ceremony. Banners in Chinese and English were hung on the dock, such as "Warmly welcome the China Liulin seagoing vessel to Seattle on its maiden voyage", "Long live the friendship between Chinese and American people" and "Warmly welcome our China friends".

On March 24th, 1980, the American Boeing 747 aircraft purchased by China made its maiden voyage on the Beijing-Shanghai route.

On April 28th of the same year, the American Consulate General in Shanghai opened.

33. China People’s Insurance Company Shanghai Branch resumed its organizational system.　　　

On May 1, 1979, China People’s Insurance Company Shanghai Branch resumed its organizational system and officially resumed its domestic insurance business in January, 1980.

From November 19th to 27th of the same year, the National Insurance Conference was held in Beijing. With the approval of the State Council, the People’s Insurance Company of China has gradually resumed its domestic insurance business since 1980 to meet the needs of modernization.

34. The first private hotel in Shanghai opened.

In 1980, China’s ideological emancipation and economic policy reform took a new step. In Shanghai, individual industrial and commercial households that have long been regarded as at odds with public ownership have begun to recover. At that time, Chen Guigen, who was born in a hotel family and was only 26 years old, applied to Jing ‘an District Administration for Industry and Commerce to open a shop as a self-employed person to operate the wine and vegetable industry, and was granted the business license of Shanghai Individual Catering Industry No.001.

Chen Guigen borrowed 3000 yuan from relatives and friends to buy restaurant utensils. As soon as the report of the opening of the first individual restaurant "Weimei Pavilion" in Shanghai was published in Wen Wei Po, the small restaurant with only 20 square meters was suddenly full of guests. Its turnover in the first month reached 3000 yuan, which was "quite profitable" at that time.

The central leadership specifically gave instructions: "All aspects should support the development of Weimei Museum". "Weimei Pavilion" is one of the representatives of "self-employed" in the early days of reform and opening up. At that time, the private economy played a role in facilitating people’s lives and solving social employment.

35. Permanent bicycles enter the American market.

On September 12, 1980, Shanghai permanent brand and Phoenix brand bicycles were exported to Europe and America in batches for the first time. On March 20th of the following year, 60,000 permanent and Phoenix bicycles were first sold in the United States.

China was once called "the kingdom of bicycles". Brands such as Phoenix and Forever were once the collective memory of a generation of Chinese. The entry of domestic bicycles into the American market opened the prelude to the global expansion of "Made in China" and laid the foundation for "World Factory".

Chinese mainland’s first fashion show team was born in Shanghai.

On November 19th, 1980, Chinese mainland’s first fashion show team — — The fashion show team of Shanghai Clothing Company was born, and 12 women and 7 men in the team became the first generation fashion models in New China. According to Xu Wenyuan, the founder and first captain of the fashion show team of Shanghai Clothing Company, the models were selected from nearly 30,000 employees in 78 enterprises under the clothing company. Its purpose is to make beautiful girls and boys wear clothes ready for mass production and increase the order quantity for domestic sales or export. At that time, the monthly income of this profession was 45 yuan, and the subsidy for attending a performance was 1.5 yuan.

At 7: 30 pm on February 9, 1981, the first fashion show of New China kicked off in Shanghai Friendship Cinema. In April 1983, the fashion show team of Shanghai Clothing Company took the stage at the clothing, shoes and hats fair in five provinces and cities nationwide, and it was hard to get a ticket for the performance. The costumes of the performance team were sold at the next counter and were snapped up by the citizens.

The colorful colors presented by China’s models awaken people’s pursuit of beauty, affect the development of China’s fashion industry, and then promote the recovery and progress of social concepts.

37. The "Han Kun case" triggered social discussion.

On September 9, 1982, Han Kun, a scientific and technical personnel of Shanghai Rubber Products Research Institute, used his spare time to serve township enterprises and received remuneration, and was accused by the Institute of accepting bribes. On November 25, Changning District Procuratorate filed a public prosecution with the court for accepting bribes, and the court ruled that the crime was "untenable", which aroused strong repercussions in the city.

On December 23, the same year, Guangming Daily published "Saving the factory with meritorious service, but not guilty of accepting remuneration", which "moved" Han Kun’s experience to the headline of the front page and set off a national discussion on "whether scientific and technical personnel should take part-time jobs or not". As a result of this discussion, thousands of "Han Kun" in Qian Qian have been freed from heavy shackles, and it has been recognized as legal for intellectuals to engage in a second job after eight hours.

38. Shanghai launched the "Yuanyang Building"

The "Yuanyang Building" was first built in Putuo District, Shanghai, for the exclusive use of newlyweds without wedding rooms, and each room has a construction area of less than 24 square meters.

In the early 1980s, Shanghai, where the housing situation was grim, ushered in the peak of educated youth returning to Shanghai. According to statistics, the per capita housing area in Shanghai at that time was only 4.3 square meters. In order to solve the problem of "housing is difficult and marriage is difficult", in 1982, Shanghai built the first "Yuanyang Building" in China. The so-called "Yuanyang Building" is the transitional room for the marriage of older young people in the dwelling age. It makes the lovers watching the ebb and flow of Huangpu River by the lovers’ wall on the Bund see the hope of getting married with a house.

The "Yuanyang Building" is the dream of a generation of educated youth incubating love, and it is also the epitome of the shortage of housing supply in Shanghai in the early days of reform and opening up.

39. The first Sino-US joint venture western medicine preparation enterprise in Chinese mainland was established in Shanghai.　　　

On October 15th, 1982, Shanghai Squibb Pharmaceutical Co., Ltd. was established, which was the first Sino-US joint venture enterprise of western medicine preparation in Chinese mainland. On October 18th, 1985, the factory was completed and put into production.

In 1978, China’s pharmaceutical gross industrial output value was less than 8 billion yuan, the per capita infusion output was only 10 people/bottle, and the sales of the whole pharmaceutical industry was only 7.2 billion yuan. China’s pharmaceutical industry has just started, and the industry lacks corresponding regulations and supervision departments. For the "opening" of China’s pharmaceutical industry, "bringing in" is more urgent than "going out".

In July 1980, the then State Administration of Medicine officially approved the establishment of a joint venture pharmaceutical enterprise with Squibb in Shanghai. After the formal establishment of Sino-American Shanghai Squibb Pharmaceutical Co., Ltd., it has created many firsts in the domestic pharmaceutical industry: including the first Sino-American joint venture pharmaceutical enterprise; The first pharmaceutical enterprise to establish a professional pharmaceutical sales team; The first joint venture in China that passed the FDA certification and exported western medicine preparation products to the United States.

It also established the first OTC promotion team in China. Subsequently, Wuxi Huarui, Xi ‘an Yangsen and Suzhou Capsule were established successively, and China pharmaceutical industry officially appeared in the market.

40, Shanghai to promote household contract responsibility system.

On January 1, 1982, the first document No.1 on rural work in the history of communist party, China was officially issued, which clearly pointed out that the production responsibility system of the socialist collective economy is to guarantee the production of each household. Since then, the government of China has continuously stabilized and improved the household contract responsibility system, encouraged farmers to develop diversified business models, and enabled rural areas to quickly get rid of the poverty and backwardness and gradually embark on the road of prosperity.

On December 14, 1982, the Shanghai Municipal Committee of the Communist Party of China announced the cancellation of the restrictions put forward in 1981, such as not engaging in household contract production in the suburbs, and decided to promote the household contract responsibility system in the suburbs. By the end of 1988, the city’s agricultural production responsibility system had formed two forms: the household contract responsibility system, accounting for about 94% of the city’s production teams; Unified management is implemented by production teams or production groups, accounting for about 6% of the city’s production teams.

On January 1, 1983, the collective catering industry in Shanghai fully implemented the responsibility system of operating quota.

In 1983, the mayor’s office meeting in Shanghai adopted in principle "Several Provisions on Reforming the Commercial System", and the commercial system in Shanghai was comprehensively reformed first.

41. The concept of "Yangtze River Delta" was born　　　

On December 22, 1982, the State Council issued the Notice on Establishing the Planning Office of Shanghai Economic Zone and Shanxi Energy Base. The circular proposes the scope of the Shanghai Economic Zone, with Shanghai as the center, including Suzhou, Wuxi, Changzhou and Nantong in the Yangtze River Delta, Jiaxing, Huzhou and Ningbo.

This is the first time that China’s official policy document mentions the "Yangtze River Delta".

42. The first Santana car was successfully assembled in Shanghai Automobile Factory.

On April 11th, 1983, the first Shanghai Santana car was successfully assembled in Shanghai Automobile Factory. On the 20th, the first batch of Shanghai-Santana cars left the factory.

At that time, seven workers from Shanghai Automobile Factory installed more than 10 meters of hand-pushed guide rails in the workshop to assemble Santana. Due to lack of experience, the car that could have been assembled in two days took a week. After two years of joint venture, Santana’s localization rate is 2.7%. In 1987, Shanghai took the city’s efforts to build a community with the whole vehicle as the leader and the interests of parts enterprises as the link, and the localization problem gradually broke through.

In 1996, Santana’s localization rate reached over 90%. With the rise of parts industry, China automobile industry has embarked on the fast lane of leap-forward development. The appearance of Santana has opened a brand-new pattern of utilizing foreign capital, introducing technology and accelerating the development of China’s automobile industry, which is an important cornerstone in the development of China’s car industry.

43, the country’s first nuclear power plant Qinshan nuclear power plant started.

On June 1, 1983, the first nuclear power plant in China — — Qinshan Nuclear Power Station started construction, and Shanghai undertook 50% of the equipment development for the nuclear power station. Qinshan Nuclear Power Station is located at the foot of Qinshan Mountain in the southeast of Haiyan County, Zhejiang Province, so it was named "Qinshan Nuclear Power Station". It is adjacent to Hangzhou Bay with stable geological structure in the east, and takes water from seawater for cooling.

On December 15, 1991, the nuclear power plant was successfully connected to the grid for the first time, and it was put into commercial operation in 1994. Its completion is the result of China’s reform and opening-up policy, which not only marks the entry of China into the nuclear power era, but also profoundly changes the energy supply structure of China.

44. Shanghai cotton cloth is available free of charge.

On December 1st, 1983, according to the decision of the State Council, the cotton cloth was available free of charge in Shanghai from now on. Stop issuing cloth tickets the following year.

The end of the era of cotton supply by ticket shows that China is gradually transitioning from a planned economy to a market economy, and it also highlights the dilemma of oversupply of cotton textile industry.

In the 1990s, when the industry was booming, there was a grand scene of 300,000 textile workers walking down the street after work on Yangshupu Road in Shanghai. During that period, the total industrial output value of Yangpu District accounted for a quarter of gross industrial output value. However, as the country began to take market regulation as the guide, Shanghai used to be a cotton textile center — — The cotton textile mill on Yangshupu Road is facing transformation.

45. The terminal building of Shanghai Hongqiao Airport was expanded again.

In March 1984, the terminal building of Shanghai Hongqiao Airport was expanded again. On September 30th of the same year, the expansion project was completed. After the expansion of the terminal, the use area has doubled. In December 1988, the terminal building of Shanghai Hongqiao Airport was expanded for the third time, which was completed on December 26, 1991. In March 2010, Hongqiao T2 Terminal was officially put into use. At the peak of the airport, the passenger reception capacity has increased from an average of 1000 passengers per hour to 4000 passengers.

The completion of Hongqiao Airport Terminal further established its position as a domestic gateway port.

46. All shops on Nanjing East Road open night markets.

Nanjing East Road is known as "the first commercial street in China". Every night, Nanjing East Road is brightly lit. But before the 1980s, most shops on Nanjing East Road closed early. Many consumers report that there is no place to buy things after work. In May 1984, all the shops on Nanjing East Road resumed the night market, and "closing at 10 pm" became a symbol of commercial service consumers on Nanjing East Road.

After opening the night market in an all-round way, on September 20, 1999, Nanjing Road Pedestrian Street was officially opened. In the past 20 years, Nanjing Road Pedestrian Street has become an important stage to show Shanghai’s charm, lead consumer culture and prosper urban commerce.

47. Real estate advertisements began to appear in Shanghai newspapers.

On June 1, 1984, the "Trial Measures for the Management of Commercial Housing in Shanghai" was implemented. Subsequently, real estate advertisements appeared in Shanghai newspapers.

In 1949, after the founding of New China, urban land was nationalized, and since then, land has been provided free of charge to land units by administrative allocation; In 1962, the lease right of the last batch of small land owners was cancelled, and the real estate market in Shanghai completely disappeared. In 1987, Shenzhen and other places began to try to lease state-owned land for a limited period of time, thus establishing a real estate market with China characteristics. In 1987, the first round of real estate development fever was set off in China. By the early 1990s, the real estate market had spread all over the country.

At this time, Shanghai also promoted real estate development on a large scale with the help of Pudong development, and at the same time launched the construction of urban infrastructure. A large number of foreign capital entered the real estate market, forming an investment boom. With the construction of the above-mentioned urban infrastructure and commercial high-rise buildings, the development of civil housing has also started rapidly. By the end of 1990s, the residential real estate market has become the largest part of the whole real estate market in Shanghai.

48, the country’s first stock sale

On November 14th, 1984, with the approval of Shanghai Branch of the People’s Bank of China, Shanghai Feile Acoustics General Factory, No.3 Branch of Feile Acoustics General Factory, Shanghai Electronic Components Industry Company, and Jing ‘an Branch of Industrial and Commercial Bank of China Shanghai Branch Trust Company initiated the establishment of Shanghai Feile Acoustics Co., Ltd. to issue shares to the public and employees. The stock has a total share capital of 10,000 shares, each with a face value of 50 yuan, and a total of 500,000 yuan has been raised, of which 35% is subscribed by legal persons and 65% is publicly issued to the public.

Shanghai Feile Audio Co., Ltd. became the first joint-stock enterprise in Shanghai, and the shares issued by Feile Audio Company this time have no time limit, can not be withdrawn, and can be circulated and transferred. It can be said that it is the first real stock in the new period of China’s reform and opening up. People used to nickname it "Little Feile".

"Xiaofeile" has taken on the heavy responsibility of breaking through China’s securities market from scratch.

On January 14, 1985, Shanghai Yanzhong Industrial Co., Ltd. issued shares of 5 million yuan, which was the first time for industrial enterprises in districts and counties in Shanghai to issue shares to the society after liberation.

49. Shanghai relaxes restrictions on private car purchases.

At the end of 1970s, the price of cars in China was three or four times that of the international market, which discouraged most wage earners. At the beginning of the reform and opening up in 1980s, a batch of mini-cars produced in Eastern Europe flowed into China through barter trade, and private cars emerged in China with a gray face.

On January 26th, 1985, according to the relevant regulations of the State Council, the Shanghai Municipal Government formulated the interim measures for private car purchase. In 1994, the State Council issued the first "Industrial Policy of Automobile Industry" to encourage individuals to buy cars, which is of great significance to break through the restricted area for private cars.

After 1995, the joint venture production of Santana, Jetta and Fukang, the production of Tianjin Xiali, Chang ‘an Alto and small cars imported by barter trade, their private purchases are increasing in Beijing, Shenzhen, Guangzhou, Wenzhou and other coastal economically developed cities, and the car prices are between 130,000 yuan and 150,000 yuan.

50. The first local civil airline operating passenger and cargo transport independently in China was born.

On December 30, 1985, Shanghai Airlines was established. On January 11th, 1986, the plane made a sea trial and set sail on December 31st.

Shanghai Airlines is one of the first airlines founded with the support of local government funds after Chinese mainland’s reform and opening up, and it is also the first air transport service operator completely independent of the state-owned civil aviation system at that time. Shanghai Airlines base is located in Shanghai Hongqiao International Airport. On October 11th, 2002, Shanghai Airlines was listed on the Shanghai Stock Exchange.

The original intention of Shanghai Airlines was to realize the "three links" between Chinese mainland and Taiwan Province, China. The Chinese logo of SHANGHAI AIRLINES and the English logo of Shanghai Airlines are written by Wang Daohan.

Shanghai Airlines is the first local civil airline in China to operate passenger and cargo transportation independently.

51. The first domestic stock exchange market was established.

On December 31st, 1985, Shanghai Jing ‘an Securities Business Department, the first domestic stock exchange market, was established. The exchange is located at No.1806 Nanjing West Road, Shanghai, with a counter area of only a dozen square meters. Only the trading prices of two stocks are written on the blackboard next to the counter.

On January 16th of the same year, the Shanghai Branch of the People’s Bank of China promulgated the Regulations on Trading on Securities Counter, which was the first trading regulation in China after liberation. On January 17th, all kinds of stocks and other securities owned by Shanghai residents can be directly traded on the counter at designated places. On May 2nd, relevant departments said that the embryonic form of regional financial market had been formed in Shanghai. The market includes interbank lending market, discount market, securities market and foreign exchange market. On June 4th, Shanghai’s city-wide capital market opened, consisting of 70 banks and other financial institutions.

52. Shanghai Metro Line 1 started.

On July 4, 1986, the first subway station in Shanghai was started at the Shanghai Railway New Passenger Station. Shanghai officially entered the subway era. On April 10th, 1992, Shanghai Metro Line 1 (Shanghai Railway Station-jinjiang park) was opened to traffic and put into trial operation.

In just 30 years, the total mileage of Shanghai subway with the whole network is 672 kilometers, which ranks first in the list of subway lengths in the world, and carries more than 10 million passengers every day.

53. Shanghai real estate market opened.　

On November 2, 1986, the Shanghai real estate market opened, and 10 sets of commercial houses were pre-sold every day.

On January 5, 1987, Shanghai first applied for a loan for the purchase of high-grade commercial housing, and pre-sold Building 4 of Aijian Building, a joint venture between Shanghai Aijian Company and Hong Kong Yanyang Investment Company. On the 9th, Shanghai real estate began to be listed for sale, after selling 500,000 square meters of commercial housing. On the 28th, Shanghai held its first real estate fair. In August, the first listed real estate company in China — — Shanghai Xingye Real Estate Co., Ltd. was established.

On October 23, 1992, Shanghai’s first Sino-foreign joint-stock real estate enterprise — — Shanghai Real Estate Development and Management Co., Ltd. was established.

54. The birth and termination of blue-printed hukou.

In December 1993, Shanghai issued the Interim Provisions on the Management of Blue Seal Accounts in Shanghai. Overseas people can apply for a blue seal account index if they invest 200,000 US dollars or buy an export-oriented commodity house of more than 100 square meters, and domestic people invest 1 million yuan. Blue-printed hukou is a kind of household registration between official hukou and temporary hukou, which is called blue-printed hukou because of the blue seal stamped by the public security organ. Shanghai is the first big city in Chinese mainland to implement the blue-printed hukou policy.

In the 1990s, Shanghai’s real estate industry was basically driven by investment. In 1992 and 1993, the investment growth rate was not fast, but the purchasing power could not keep up, resulting in a vacancy rate of 20% to 30%. At the same time, the accounts of large and medium-sized cities in the eastern coastal areas of China generally have a high value content, which is very attractive to migrants. In April 2002, the Shanghai Public Security Bureau stopped handling the "blue-printed account".

55. Signature of the first land parcel in Shanghai with paid transfer of the right to use.

On July 8, 1988, the first paid transfer of land use right in Shanghai was awarded to Japanese Sun Shi Enterprise Co., Ltd. with a transfer fee of RMB 104.16 million through international bidding, and the land use period was 50 years. On September 1st of the same year, Japanese Sun Shi Enterprise Co., Ltd. invested US$ 28,055,054 to obtain the Shanghai State-owned Land Use Certificate, becoming the first foreign company to obtain the land use right in China after 1949.

This is the first time that China has used international public bidding to transfer the land use right with compensation. It is also an important symbol of the success of the pilot reform of the land use system in Shanghai and even the whole country. It marks that the allocation mode of state-owned land resources in China has changed from market mechanism to administrative allocation, from "three noes" (free, indefinite and non-circulating) to "three noes" (paid, limited and circulating).

The curtain of capitalization of urban state-owned land resources and marketization of land resources allocation in China has been opened.

56. Pudong development began.

In October, 1986, Lin Tongyan, a Chinese American, submitted the report "Study on the Possibility of All-round Development of Modernized Greater Shanghai" to the Shanghai Municipal Government. The following year, after revision and enrichment, Shanghai officially put forward "Developing Pudong — — Building a modern Shanghai. In April 1987, the Shanghai Municipal Government set up a Sino-US joint research group to develop Pudong, and Lin Tongyan was hired as a senior consultant.

On May 4, 1990, the CPC Shanghai Municipal Committee and Municipal Government submitted the Request for Instructions on Developing and Opening Pudong to the Central Committee of the Communist Party of China and the State Council, and put forward specific opinions on the principles, policies and measures for developing and opening Pudong. On June 2nd of the same year, the Central Committee of the Communist Party of China and the State Council approved in principle.

On September 7th of the same year, the State Council approved the Provisions on the Reduction and Exemption of Enterprise Income Tax and Consolidated Industrial and Commercial Tax for Encouraging Foreign Investment in Pudong New Area. On the 10th, the head office of the People’s Bank of China, the Ministry of Finance, the General Administration of Customs and the Shanghai Municipal Government issued nine regulatory documents on the development and opening up of Pudong New Area. On the 11th, Pudong Waigaoqiao Free Trade Zone Development Company, Jinqiao Export Processing Zone Development Company and Lujiazui Financial and Trade Zone Development Company were established.

The development of Pudong officially kicked off.

57. Opening of Shanghai Stock Exchange

On November 26th, 1990, authorized by the State Council and approved by the People’s Bank of China, the Shanghai Stock Exchange was established. Shanghai Stock Exchange is the first stock exchange opened in Chinese mainland since the reform and opening up, and it opened on December 19th of the same year.

After the drastic changes in Eastern Europe in 1989, the debate on the advance and retreat of China’s reform became more intense. In this context, the establishment of Shanghai Stock Exchange has been questioned. In the spring of 1991, Deng Xiaoping came to Shanghai. He pointed out that "securities and stocks are good or not, are they dangerous, are they unique to capitalism, and can socialism be used?" Allow to see, but try resolutely. " This speech saved the exchange, but the rapid development of the Shanghai Stock Exchange was after Xiaoping’s southern tour. On October 26th, 1992, the the State Council Securities Commission was established, with Zhu Rongji, then Vice Premier of the State Council, as the director, and the China Securities Commission as the executive body until 1998.

After a series of changes, the stock market has also shifted from local pilot to national unity. On July 1st, 1999, the Securities Law of People’s Republic of China (PRC) came into effect, thus establishing the legal status of the capital market in China.

58. The construction of Lujiazui financial business circle began.

On December 22, 1990, the first high-rise building in Lujiazui Financial and Trade Zone in Pudong New Area, Shanghai Waterway Communication Building, was started. The construction of Lujiazui business circle officially began.

59, "Liberation Daily" published "Huang Fuping" commentary.

From January 28th to February 20th, 1991, during his inspection tour in Shanghai, Deng Xiaoping put forward that "we should pay close attention to the development of Pudong until it is completed" and "we should be more emancipated, bolder and faster".

On February 15th of the same year, Liberation Daily published "Being the Leading Sheep of Reform and Opening-up" written by Huang Fuping according to the spirit of Deng Xiaoping’s speech. Up to April 22nd, four related articles were published. The article points out that "planning and market are only two means and forms of resource allocation, rather than the symbol of dividing socialism and capitalism", which has aroused heated discussion about the surname "society" and "capital" throughout the country.

60, the national initial stock subscription certificate.

From January 19th to February 1st, 1992, Shanghai issued the stock subscription certificate for the first time in China. On March 2, the stock subscription card was announced for the first time, and 214,000 shares were won in the city.

On May 21st of the same year, the daily limit of stocks was lifted, and the Shanghai Composite Index rose by 105% on that day and soared by 570% in three days. On August 10th of the same year, the subscription lottery table was put on sale in Shenzhen, and millions of people rushed to buy it, which triggered the "August 10th" incident. On the third day after that, the Shanghai Composite Index plunged 22.2%, down 45% from the high level two and a half months ago & hellip; …

On October 12th of that year, China Securities Regulatory Commission was established.

61. Pudong New Area was born.

On April 30th, 1990, Zhu Rongji, then mayor of Shanghai, announced the establishment of the Shanghai Pudong Development Leading Group. On May 3, 1990, Pudong Development Office and Pudong Development Planning and Design Institute of Shanghai Municipal People’s Government were listed at No.141 Pudong Avenue.

On October 11th, 1992, the State Council issued the State Council’s Reply on the Establishment of Pudong New Area in Shanghai, agreeing to establish Pudong New Area in Shanghai. On January 1, 1993, the CPC Shanghai Pudong New Area Working Committee and Shanghai Pudong New Area Management Committee were formally established on Pudong Avenue.

At the 14th National Congress of the Communist Party of China, the Central Committee of the Communist Party of China made an important decision of "taking the development and opening-up of Pudong in Shanghai as the leading factor, further opening up cities along the Yangtze River, building Shanghai into one of the international economic, financial and trade centers as soon as possible, and promoting a new economic leap in the Yangtze River Delta and the whole Yangtze River basin".

Fourth, the overall opening pattern was initially completed (1993-2007)

V. Building the "Five Centers" in an All-round Way (2008-2019)