1May, 99517th, in view of the fact that China did not have the basic conditions to carry out treasury bond futures trading at that time, the treasury bond futures came to an end after only two years and six months, and the China Securities Regulatory Commission issued the Emergency Notice on Suspending the Pilot of Treasury bond futures trading. China's first financial futures product died.
On September 20th, 1995, the Ministry of Supervision, the China Securities Regulatory Commission and other departments announced the investigation results and handling decisions on the "327 incident", and concluded that "this incident was a bond futures storm triggered by Shanghai Wanguo Securities Company and Liaoning Guofa (Group) Company under the circumstances that the bond futures market was developing too fast, the supervision of the exchange was lax and the risk control was lagging behind." It was decided that the Shanghai Stock Exchange seriously underestimated the risks caused by excessive speculation in the market, the trading rules were imperfect, the risk control was lagging behind, and the supervision and management were lax, which led to the frequent occurrence of serious illegal transactions in the past few months, which caused extremely bad influence at home and abroad. After more than four months of in-depth investigation and evidence collection, the Ministry of Supervision, the China Securities Regulatory Commission and other departments, in accordance with relevant laws and regulations, respectively imposed disciplinary sanctions on the relevant responsible persons, such as dismissal from public office, revocation of administrative leadership positions, and organizational sanctions such as transfer and dismissal. Those suspected of violating the criminal law shall be transferred to judicial organs for handling, and the securities institutions that violate the provisions shall be given economic penalties.
1April 1995, Guan Jinsheng resigned. Two months after joining the company, his economic crimes began to be exposed. 1995 May19, Guan Jinsheng was arrested in Hainan on charges of embezzlement and misappropriation of public funds of more than 400,000 yuan, but he did not violate the futures trading rules.
However, the August rights issue of Changhong 1995 and the incident of Yinguangxia 200 1 made MCC drive away a downward channel. Trust business and real estate investment are sluggish, and securities underwriting business often becomes almost unprofitable because of vicious competition. During the period of 1997, CDB's external payments fell into crisis several times, with a debt of 7.8 billion yuan. In June 2000, with the approval of the State Council, China National Economic Development Bank became one of the first reserved central trust and investment companies, and after rectification, it was handed over to the Central Financial Work Committee for management. The company divested its industrial investment to CIC, and the credit assets have been entrusted to the asset management headquarters for further collection.