深圳故事｜新中国第一张股票：“深宝安”

新中国第一张股票：“深宝安”

Shenzhen Bao’an, the first stock of the new China

上世纪八十年代初，中国人对“股票”的概念还十分陌生，老百姓更是不敢想象“用真金白银换张‘纸’就能赚到钱”。那么新中国第一张股票又是如何诞生的呢？

In the 1980s, company stocks was still a fairly novel concept to many Chinese people. It was hard for the public to believe that they could earn more money by spending real money on a piece of paper. So how did the first stock of new China come about?

 

深圳经济特区成立后，各项建设全面推进，基础设施建设、经济发展、行政事业等开支都需要大量资金，“新宝安县”也感到了巨大的经济压力。

After the establishment of the Shenzhen Special Economic Zone, all varieties of construction were being promoted. The “New Bao’an County” was under great economic pressure as the government would need a lot of capital to fund the construction of various infrastructure facilities, economic development, and cover administrative expenses.

 

在这样的背景下，为了适应新形势的需要，更好地集中县社资金和引进外资，有计划地兴办各类企业、事业，1982年11月10日，宝安县人民政府成立宝安县联合投资公司，并决定做“第一个吃螃蟹的人”，尝试以发行股票的方式筹措资金。

Against such a background, in order to meet the needs of the new situation, better concentrate the social capital and introduce foreign investment to push forward the development of various enterprises and public institutions, the Bao’an County Government, on Nov. 10, 1982, set up the Bao’an County Joint Investment Co. and issued shares to raise funds, becoming the “first one to eat crabs.”

 

1983年7月，宝安县联合投资公司发行了新中国成立以来的第一张股票——“深宝安”。25日，本着“入股自愿、退股自由、保本付息、盈利分红”的原则，宝安县联合投资公司在《深圳特区报》刊登了招股公告，欢迎省内外国营集体单位、农村社队和个人（包括华侨、港澳同胞）投资入股，每股人民币十元。县地方财政拥有20%股权。公司确保股东权益，享受优惠待遇。

The Bao’an County Joint Investment Co. in July 1983 issued the first stock of new China – Shenzhen Bao’an. Based on the principles of “voluntary participation, freedom of withdrawal, guaranteed repayment of capital and interest, and profit sharing,” the Bao’an County Joint Investment Co. on July 25 published a prospectus in the Shenzhen Special Zone Daily, welcoming State-owned enterprises, collectively owned companies and individuals (including overseas Chinese, compatriots from Hong and Macao) in Guangdong and outside of the province to invest in the company at 10 yuan (US$1.46) per share. The county treasury owned 20% of the equity, and the company would protect the rights and benefits of all shareholders, who also enjoyed preferential treatment.

1983年7月25日，宝安县联合投资公司在《深圳特区报》刊登招股公告。

The prospectus of the Bao’an County Joint Investment Co. published on Shenzhen Special Zone Daily on July 25, 1983.

公告发布后，全国20多个省、市、自治区的投资者纷纷前来认购。公司首期集资1300万元，远远超出预期，为宝安县的建设汇集了大量资金，1983年，深宝安已获纯利15.7万元，股票1000元就可以分红200元，也让股东们获得了可观的利润。

After the prospectus was published, investors from more than 20 provinces, municipalities and autonomous regions nationwide subscribed to purchase the shares. The company raised 13 million yuan in the first phase, far exceeding its expectation and gathering substantial capital for the county’s construction. The net profit of the company in 1983 reached 157,000 yuan. Shareholders made considerable profit by investing in the company, receiving 200 yuan in dividends for every 1,000 shares they owned.

“深宝安”股票票样（原件藏于宝安区档案馆）

A share certificate of Shenzhen Bao’an. (The original copy is in the Bao’an Archives).

“深宝安”的发行，不仅带动了全县股份合作制企业的发展，也是深圳经济特区开展的一项深层次改革，开创了国有企业股份制改革的先河。

The issue of the stock of Shenzhen Bao’an not only drove the development of joint-stock cooperative enterprises in the county, but also was a profound reform carried out by the Shenzhen Special Economic Zone, pioneering the reform of the joint-stock system for State-owned enterprises.