The Shanghai Stock Exchange (SSE) launched a network-wide test on Sunday, a non-trading day, to brace for the possible pressure of continuous surge in stock-trading volume.
Over the past week, Chinese stocks rallied after a slew of policies introduced by the government to prop up the economy.
By the close of trading on Friday, September 27, the Shanghai Composite Index increased by 2.88 percent, ending at 3,087.53 points.
On Sunday, the SSE organized financial institutions to conduct tests on platforms for bidding, comprehensive business, and others to verify the accuracy and stability of the trading system.
According to the test plan of the SSE, transactions and clearing for one trading day were simulated. This aimed to verify that the bidding platform would run smoothly when a large number of orders were declared during a continuous bidding period.
The test subjects mainly involve financial institutions such as securities firms and public funds, and was not open to ordinary shareholders.
The entire test ran from 09:15 to 14:00. All the test data was based on that obtained after the market closed on Friday, involving stocks, funds, block transactions, ETF subscriptions, and redemptions to ensure the completion of the test.
Up to date, all tests of the SSE have ended, and the bidding trading system has received a total of 270 million orders, which is twice the historical peak and three times the number declared on Friday. The test results showed that the overall system performance was normal and in line with expectations.
Shanghai Stock Exchange conducts pressure test to ensure smooth trading
Dilma Rousseff, president of the New Development Bank (NDB) and former president of Brazil, expressed her commitment to deepening the ties and cooperation between China and Brazil after being honored with the Friendship Medal in Beijing on Sunday.
Chinese President Xi Jinping presented the Friendship Medal to Rousseff at a ceremony held to award the highest state honors to 15 distinguished individuals.
The gold and blue Friendship Medals are China's highest state honors for foreigners, awarded to those who have made outstanding contributions to China's modernization drive, promoting exchange and cooperation between China and the world, and safeguarding world peace.
In her speech after receiving the medal, Rousseff expressed gratitude for the honor and praised China's remarkable development achievements over the past four decades.
"Your Excellency President Xi Jinping, Your Excellencies members of the Government of the People's Republic of China, distinguished guests, and dear friends, I am deeply honored that the government of the People's Republic of China awarded me the Friendship Medal. This medal confirms the solid ties of friendly cooperation between our two countries and two peoples. I am extremely grateful for the trust and friendship offered by the Chinese government. I would like to express my gratitude to President Xi Jinping and the Chinese people for granting me this honor," she said.
"Over more than 40 years, China has made remarkable development achievements. Accelerated economic transformations, technological innovation and extraordinary social development have enabled China to rise into a world power and become a beacon of hope to bring enlightenment to the world. China's persistence on reform and opening up has not only lifted hundreds of millions of people out of poverty, but also made outstanding contribution to world economic growth and global stability," said Rousseff.
Rousseff praised Chinese President Xi Jinping's leadership. She commended his vision for a shared future for mankind, highlighting his efforts in addressing global challenges like climate change, promoting inclusive development, and fostering international cooperation through initiatives such as the Belt and Road.
"I would like to extend my warm congratulations to President Xi Jinping. Your proposal for a shared future for mankind and the promotion of common prosperity is undoubtedly one of the noblest goals for people across all continents and is filled with inspiration. President Xi, your unremitting efforts in addressing major global challenges such as climate change, promoting inclusive development, and maintaining peace and security demonstrate your profound insight as a great statesman into the future. The Belt and Road Initiative exemplifies bold progress, opening new pathways for mutually beneficial international cooperation," she said.
"The three global initiatives - namely the Global Development Initiative, the Global Security Initiative and the Global Civilization Initiative - underscore China's commitment to addressing international issues in a responsible and constructive manner. In a world with increasing fragmentation and confrontation, it is truly encouraging to witness how, under your leadership, President Xi Jinping, China is gradually establishing a more united and harmonious international political order," she said.
Rousseff added that, based on her experience as the former president of Brazil, she considers President Xi a champion of international cooperation and multilateralism, emphasizing his critical role in advancing global governance and recalling their joint announcement of the New Development Bank in 2014.
"As the former President of the Federative Republic of Brazil, I have had the privilege of working with many global leaders. I think President Xi Jinping is a true champion in promoting international cooperation and a strong defender of multilateralism. Your leadership is crucial to advancing global governance, addressing global challenges and promoting the formation of a more equitable and more just international order. President Xi Jinping, I am particularly proud that we jointly announced the establishment of the New Development Bank in Brazil in 2014 during the meeting of BRICS (Brazil, Russia, India, China and South Africa)," said the NDB president.
"After receiving the Friendship Medal, I reiterate that I will continue to make unremitting efforts to strengthen China-Brazil cooperation based on mutual benefits. China and Brazil are friends and partners and share common interests in promoting world peace, stability and prosperity. I will do my best to promote the development of bilateral ties and bolster cooperation between the two countries in the fields of development, trade, investment, education, culture and other fields," she said.
"Finally, I would like to once again express my deep gratitude to President Xi Jinping and the Chinese government. This medal brings me immense honor. I take great pride in being a part of this special relationship and hope to continue to strengthen our collaboration in the future," Rousseff said.
Former Brazilian president vows to further enhance bilateral ties with China
