On August 10, 1992, what happened to the "8.10 incident" that shocked the whole country?

Event replay 8.10 incident

In January 1992, a new gadget called "stock subscription certificate" became popular in Shanghai.

On May 21, the Shanghai Stock Exchange relaxed the price restrictions on only 15 listed stocks, triggering a surge in the stock market. Since there is no daily limit limit, the Shanghai stock market rose by 105% in one day. Subsequently, the stock index surged for two consecutive days. More and more people are beginning to believe that Chinese stocks can make people rich overnight.

August 10, Shenzhen. The fourth lottery of "1992 Stock Subscription Certificate". At that time, 5 million subscription forms were issued in advance, and each person could purchase 10 forms with their ID card. It was said at the time that "millions of people were vying to buy". In less than half a day, all the lottery forms were sold out, and people could not believe it. The order began to be chaotic and conflicts occurred when people questioned it. In the evening of that day, thousands of investors who had not bought the lottery tickets marched on Shennan Middle Road, carrying slogans against corruption and demanding justice, and formed a siege on the Shenzhen Municipal Government and the People's Bank of China, leading to the "8·10 Incident" . The Shenzhen Municipal Government held emergency consultations that night and decided to issue an additional 500,000 new share subscription and exchange forms, and the situation gradually calmed down.

The "8·10 Incident" triggered a plunge in the Shanghai and Shenzhen stock markets.