October 2000
Sinpec lists on the NYSE, the SEHK and the London Stock Exchange (LSE). In July 2001, the company issues A - shares on the SSE.

February 2001
The CSRC opens up the B share market to domestic Chinese investors with foreign currency bank accounts.

June 2001
China Unicom is included as a constituent stock of Hong Kong's Hang Send Index.

The SSE Composite Index reaches a record high of 2,245.43.

The IPO of State-owned shares officially began, which triggered a four-year market slump.

November 2001
The CSRC and the Ministry of Finance (MOF) reduce the stamp tax levied on share trading to 0.2%.

December 2001
The CSRC announces companies applying for a listing in 2002 must have their company accounts audited by both a domestic and an international accountancy firm.

February 2002
New rules are issued permitting individuals to trade certificate treasury bonds.

March 2002
The CSRC allows IT and certain other companies to apply for brokerage licenses. Previously only securities firms were permitted to apply.

The CSRC and MOF cancel a plan to sell off state-owned shares after pressure from ordinary shareholders fearing such a move would cause a massive fall in share valuations.

October 2002
The CSRC issues the first set of comprehensive rules on the acquisition of listed companies, providing a framework for an already vibrant acquisitions market.

November 2002
The CSRC announces the pending introduction of the Qualified Foreign Institutional Investor (QFII) scheme, giving foreign investors access to A shares.

China Telecom lists on the NYSE and the SEHK.

December 2002
Normura Securities becomes the first overseas securities firm permitted to participate in B share trading at the SSE.

January 2003
CITIC Securities becomes the first mainland securities firm to go public, raising RMB 1.8 billion (US$220 million).

May 2003
UBS becomes the first foreign financial institution to be granted QFII status.

December 2003
China Life lists on the NYSE, in one of the largest IPOs of 2003 (over US$3 billion).

June 2004
Trading in the shares of 10 companies begins on the SME Board of an estimated 1,000 companies that applies to list. The SME Board, based in Shenzhen, is a Nasdaq-like board for smaller, mostly private companies. It was to have been launched in 2000, but was delayed partly due to fears that such a board would suck liquidity away from the A share market.

July 2004
The Bill and Melinda Gates foundation becomes the first non-financial institution to gain QFII status.

August 2004
The CSRC suspends domestic IPOs to draft new listing rules. Under the previous system companies would set IPO prices artificially low to ensure a big jump on the opening day of trading, making it common for prices to climb by 70% or more on the first day. Obviously, this did not encourage long term holding.

October 2004
Xinhua Finance lists on the Tokyo Stock Exchange's Mother board. The company, headquartered in Hong Kong, is the first Chinese company to list in Japan.

Barclays Global Investors launches iShares FTSE/Xinhua China 25 Index Fund, the first mainland China exchange-traded fund (ETF) available to American investors.

January 2005
The CSRC announces they will resume approval of domestic IPOs after a four-month suspension and a revamp of the rules. Future share offerings will go through a new system promising a more market oriented IPO pricing mechanism.

March 2005
The SSE Composite Index hits a six year low. Analysts warn of more losses to come, noting the impact of imminent IPOs on an already declining market.

UBS urges the CSRC to boost the markets by raising the QFII quotas for foreign investors above the current cap of US$800 million.

May 2005
The CSRC announces a long awaited pilot scheme to phase in the sale of state shares in four companies. The proposed scheme enables existing shareholders to negotiate both the selling price and the method by which non-tradable shares are sold and requires that such arrangements are passed by two-thirds of all voting stakeholders and voting tradable shareholders. Owners of non-tradable shares selected for the pilot will not be permitted to sell their holdings within a year of shares being floated.