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Guests visit China Securities Museum
From:english.eastday.com  |  2019-07-06 15:20

The guests of the journey of culture and humanities arrived at their fifth stop, the China Securities Museum (formerly the Astor House Hotel, China's 1st hotel built by a Western merchant in 1846). The Peacock Hall on the first floor of the museum is the founding place of the Shanghai Stock Exchange.

In the early days, as there was no remote transaction service, the client had to report their transaction instructions via telephone to the securities trader who would later type the orders into the stock exchange’s trading host computer. The traders were dubbed “red vests” because of the color of their uniform.

The museum also brings back the scene of Deng Xiaoping’s meeting with a U.S. securities delegation led by John J. Phelan, Jr, on November 14, 1986. In the People’s Hall in Beijing, China’s then leader presented the then chairman of the New York Stock Exchange with a 50-yuan Feilo Audio stock as a gift.

The picture shows old beepers used by individual investors to get updates on their stock shares.

Visitors pose for a group picture in front of the Peacock Hall.