Ping An Insurance, China’s first joint stock insurance company, was established in Shekou in 1988. The company has expanded rapidly to become China Ping An Group, a Fortune Global 500 financial conglomerate.
The first foreign exchange trading center
The State Foreign Exchange Administration approved the establishment of the Shenzhen Foreign Exchange Trading Center in May 1988, putting an end to the ban on trading of foreign exchanges under the planned economy.
The first stock exchange
New China’s first stock exchange, Shenzhen Stock Exchange, was established on Dec. 1, 1990. The stock market has helped thousands of companies raise funds and helped some of them grow into giants from small players, such as China Vanke and Shenzhen Development Bank, now known as Ping An Bank.
The first city to roll out housing reform
In June 1988, Shenzhen rolled out China’s first comprehensive housing reform measure, encouraging employees to purchase commercial housing and ending the distribution of homes by government departments and State-owned enterprises. The move led to the creation and booming of the property sector and improvement of people’s housing conditions.
The mainland’s first McDonald’s