The Beijing Stock Exchange (BSE) may become another “rotten tail” venture under the Xi Jinping administration, a senior financial expert says. The Chinese catchphrase refers to a failed or unfinished task, usually as a result of ill-conceived planning or poor execution.
Trading volume on the BSE continued to decline in 2023, with daily turnover of just 295 million yuan (about $40 million) and the trading volume of certain stocks’ falling as low as 2,200 yuan (about $300) on Jan. 17.
Between Jan. 16 and Jan. 20, daily turnover on the BSE ranged from 295 million yuan to 551 million yuan (about $90 million). Even the highest daily volume, $90 million, was a plunge of about 94 percent compared to a trading volume of 9.576 billion yuan (about $1.41 billion) on the BSE’s first day of trading….