On August 10, the fourth lottery was for the Shanghai Stock Subscription Certificate in 1992, which was also the last lottery for the Shanghai Stock Subscription Certificate in 1992.

The winning rate for the first lottery is 10%, the winning rate for the second lottery is 50%, and the winning rate for the last two lotterys is about 31%.

The profit of the first lottery is the most amazing, almost 30 times! Although the profit of the next three times has been reduced a lot, it is still amazing. Even the profit of the fourth lottery can still reach 15-20 times.

On August 10, 1992, when Shanghai was carrying out the fourth lottery for the Shanghai Stock Subscription Certificate in 1992, another incident that shocked the whole country was brewing.

The matter starts with the Shanghai Stock Subscription Certificate in 1992.

The huge profits brought by the first two lottery draws of Shanghai stock subscription certificates in 1992 were quickly spread throughout the country through radio, newspapers and television.

On the afternoon of August 7, 1992, various media in Shenzhen were broadcasted separately, and the "1992 New Stock Subscription Lottery Issuance Announcement" jointly issued by the Shenzhen Branch of the People's Bank of China, the Shenzhen Municipal Bureau of Industry and Commerce, the Public Security Bureau and the Supervision Bureau, thus officially kicking off the 1992 new stock issuance in Shenzhen.

So, Shenzhen went crazy, Guangdong went crazy, and the whole country went crazy!

According to the announcement, Shenzhen will issue new stocks with a face value of 500 million yuan to the public and subscribe to the public through subscription lottery forms. From August 9 to 10, a total of 5 million new stock subscription lottery forms will be issued in two days, with a winning rate of 10%. Each table buyer can purchase 10 lottery forms with 10 ID cards. The winner can buy 1,000 newly listed stocks.

However, in fact, since July, news has been circulating in Shenzhen: Shenzhen will issue new shares to the public! Shenzhen people are ready to do a big move, and smart people from all over the country also have a keen sense of smell. According to usual experience, the price of new shares issued in Shenzhen this time can be increased by at least 10 times after they are listed. Where can I find such opportunities for wealth?

So, starting from late July, smart people from all over the country took woven bags and set off, heading south to Shenzhen, forming an unstoppable stream of people. A few days before the lottery table was about to be released, train tickets from Guangzhou to Shenzhen were speculated to 400 yuan per piece, more than 10 times the normal price! Bus tickets were even speculated to 1,000 yuan per piece, and smart people from all over the country came. It is estimated that at least 700,000 people came to Shenzhen from other places, and all hotels, hotels, and guesthouses in Shenzhen were full, and they still could not accommodate the tide of people coming, causing many people to sleep on the streets.

After the news was announced, someone started queuing on the afternoon of the 7th. On the 8th, the long queue of people and things divided the Shenzhen streets into pieces. Many people were all out, carrying small stools, beds, mats, bicycles, cartons, newspapers, bricks, etc., among the long queues that were invisible in front and behind. On the morning of the 9th, there was a team of more than 1 million people.

In fact, two months ago, many people received news that they were about to issue new shares, and first started a war of ID card acquisition outside Shenzhen.

I needed to buy the ID card for the lottery form, so the streets of Shenzhen were filled with phone calls and telegrams, urging people to the world one by one: "Send your ID card quickly!"

Suddenly, tens of millions of ID cards flew from Hunan, Hubei, Jiangsu, Zhejiang, Jiangxi... to Shenzhen. Express delivery to Shenzhen from all over the country shocked the people of the whole country! Some post offices received packages containing ID cards weighing up to 7 kilograms, and blue envelopes from express delivery were flying all over the sky.

Some people think that the phone number or telegram contact is unreliable, so they simply take the train to rural areas across the country to rent and borrow or even buy it!

A capable man brought 7,200 ID cards from the mainland at one time, and another person prepared the ID card "business" with considerable profits, so he became a "professional" ID card. He went to rural areas such as Hunan, Hubei, Zhejiang, etc., rented or even purchased at a price of 20 to 50 yuan per card, and then bought it in Shenzhen for a high price of 100 to 200 yuan.

According to the relevant departments at that time, about 3.2 million resident ID cards flew to Shenzhen.

Although it rained heavily at 4 pm on August 9, people "difficult to thunderstorm can't blow up". The pouring rain failed to extinguish people's enthusiasm, washed away the passion in their hearts, and washed away the dream of making money.

Due to major mistakes in organizing the sale, many outlets have committed serious fraud. Some outlets have opened their doors and announced that the lottery tables have been sold out in just two or three hours. In the long queue of thousands of people, only more than 30 people bought the lottery tables; some outlets just announced that they had sold the lottery tables and when thousands of investors were pessimistic and disappointed, some "scalpers" took hundreds of lottery tables on stage and sold at a price of 700 to 1,000 yuan per ticket.

Due to the serious fraud, the majority of investors queuing up to buy tables have been extremely dissatisfied. On the day of the listings on August 9, the order of some sales outlets began to be chaotic, which once hindered the continued development of the issuance work.

By around 9 p.m. on August 9, all 5 million new stock subscription lottery forms were issued.

On the afternoon of August 10, the Shenzhen Branch of the People's Bank of China issued a notice announcing that the deadline for the closing time was originally scheduled to be 6:00 pm on August 10, and it will be postponed to 11:00 on the 11th.

This announcement was like a spark, which suddenly ignited the anger of the vast majority of investors or speculators who were extremely sad and angry. Because they had reason to speculate that the bank postponed the deadline for closing the bill was to create convenient conditions for fraudsters to give them enough time to sell the subscription form bought from the backdoor at a high price!

So, small-character posters that expressed their anger and exposed the fraud were put on the wall one after another.

On the evening of August 10, after two days and two nights, thousands of investors who were cheating began to gather and watch, and then marched along Shennan Middle Road toward the municipal government with banners such as "resolutely oppose cheating", "oppose corruption", and "we want fairness, we want stocks".

The situation worsened around 8 p.m., with tens of thousands of people surrounding the municipal government and blocking Shennan Middle Road, causing traffic interruption. As the situation further developed, a few people began to exercise violence, smashing cars, smashing motorcycles, and attacking on duty police officers. Some people burned two cars, four motorcycles near the Bank of Communications on Hongli Road, and overturned four cars.

When the armed police went to maintain order, several police officers were beaten and injured. Casualties occurred in the chaos. The incident lasted until the early morning of the next day, with 20,000 or 30,000 onlookers.

Shenzhen's most important transportation trunk line, Shennan Middle Road, and the avenue at the entrance of the Shenzhen Municipal Government were blocked, and relevant departments had to use tear-jerking bullets and water cannons to disperse the crowd.

That night, the municipal government and relevant parties convened an emergency meeting and decided to issue 500,000 additional new stock subscription lottery tickets the next day. Each lottery ticket can be exchanged for 10 lottery tickets after September, with the winning rate unchanged. Several radio cars were dispatched to broadcast the decision at around 10 o'clock that night, and the situation was quickly calmed down.

In the early morning of the 11th, some printing factories in Shenzhen began to print new stock subscription form redemption coupons, and they began to be sold one after another from 2 pm. Four departments including the People's Bank of China and the Shenzhen Branch of China People's Bank of China posted an announcement: the original 5 million new stock subscription lottery tables have been sold out. It is too late to print the new table, so we will first print the lottery tickets and exchange coupons... Those who use their power to privately get vouchers and send coupons must be dealt with strictly.

The lottery table doubles, and the winning rate remains unchanged. This move means that either doubles the listed stocks or each winning table drops from buying 1,000 shares to 500 shares. People have started to queue up to buy redemption coupons, and they are reluctant to leave day and night.

The 810 storm that shocked China and abroad finally subsided.

This is the famous 810 storm!

During the 810 storm, stock fraudsters were found in the four-month investigation: 11 financial units in the city have a total of 300 sales points, and 10 units have a total of 95 sales points reported by the public; 62 key clues were screened out from more than 2,900 (times) of mass complaints, involving 75 people in 20 units in 5 systems, including finance, supervision, industry and commerce, public security, etc., including 22 cadres at the department level or above. By December 10, 105,399 lottery draws for internal intercepted private purchases have been found, involving 4,180 cadres in the financial system and 4,180 employees. Among them,

Employees in the financial system bought nearly 65,000 pieces privately, and on duty. Supervisors bought more than 20,000 pieces privately, and bought nearly 20,000 pieces for related households. 62 key clues complained by the masses have now been verified 57 cases involving 68 people, 38 of which are true and partly true, involving 43 people. Among them, 11 department-level cadres, 22 section-level cadres, 10 general cadres and employees; 23 party members; 30 people belong to the financial system, 8 people in the industrial and commercial system, 4 people in the public security system, and 1 person in the enterprise unit. The last 9 people who were publicly dealt with were "extremely evil", 7 of whom were in the heads of units or departments.

After the 810 storm, Shenzhen's stock market was hit hard for a while, with the stock price index soaring from 310 points on August 10 to 285 points on August 14, a drop of 8.1%.

The Shenzhen stock market was severely damaged, and the Shenzhen Index fell sharply until the stock price index 164 points on November 23 before it stopped falling and rebounded.

Affected by the Shenzhen 810 storm, the Shanghai Stock Exchange Index plummeted from 964 points on August 10 to 781 points on August 12, a drop of 19%, with the deepest drop of 22.2% to 640 points. This is really rare in the Shanghai Stock Exchange.

The 810 storm caused extremely bad effects at home and abroad. It not only damaged our image, but also had a negative impact on our reform and opening up.

After August 10, 1992, the country stopped the issuance of new shares for a year. At the same time, this incident also prompted the national securities management department to consider exploring a more scientific and reasonable new share issuance method, which led to a fundamental change in my country's new share issuance method in the future. This may be the only gain brought to us by the 810 storm.

In fact, it is not just 810. When any new thing occurs, it is accompanied by loopholes, barbarism, speculation and crime. This is true in ancient and modern times, both in China and abroad!

Nearly three years after the 810 incident, the 327 Treasury bond futures incident hit the new futures market in China again. However, it is precisely because of the 327 Treasury bond that the Chinese futures market was regulated!

Not only China, but even the United States, which is known for its system and Japan, which is known for its craftsman spirit, will still experience horrifying financial disasters such as the Lehman Brothers incident after the system has developed for decades!
Chapter completed!