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The Event Outcome of "March 27" Treasury Bond Futures Storm
The "327 Incident" shocked the securities and futures circles in China. Under the mediation of the arbitration organ, the liquidation was agreed on February 27 and 28, but the effect was not satisfactory. March 1, forced liquidation. The situation is just clear and it is worth holding two sessions. The accountability of "March 27 incident" has become the focus of NPC deputies and CPPCC members. Later, the CPC Central Commission for Discipline Inspection, the Ministry of Supervision, the China Securities Regulatory Commission, the Ministry of Finance, the People's Bank of China, the Supreme People's Procuratorate and other relevant departments formed a joint investigation team and conducted an investigation for more than four months with the cooperation of the Shanghai Municipal Government. On this basis, they made a serious deal.

Global Securities Company was reorganized, and Chairman Xu Qingxiong and Vice Chairman and President Guan Jinsheng resigned at the same time. Guan Jinsheng was jailed. Liao Guofa, the second protagonist of the "327 Incident", was presided over by the Gaoyuan and Gaoling brothers from Shenyang. After the "327 incident", in order to recover huge losses, in March, he tried to turn over a profit and continued to speculate on the "329" variety in the bond market, resulting in losses again. The Liao case is not only a violation of securities and futures, but also a serious crime such as financial fraud, involving tens of billions of yuan.

After the "327 Storm", the exchange adopted measures such as increasing the margin ratio and setting up a price limit board to curb the speculative atmosphere of treasury bonds futures. However, due to the particularity of treasury bond futures and the economic situation at that time, the transaction was still turbulent, and a 3 19 storm was brewing on May 10 of that year. On May 17, China Securities Regulatory Commission decided to suspend the trial of treasury bond futures trading because China did not have the basic conditions to carry out treasury bond futures trading at that time. At this point, China's first financial futures product died.

The "327" national debt futures incident was later called "China Bahrain Bank Incident" by the famous economist Dai. Guan Jinsheng is really bold. Boldness itself is not a mistake. The point is that he did the wrong thing at the wrong time and place. Therefore, Guan Jinsheng was arrested.