“证券教父”管金生离世，传奇一生落幕

Core Insights - The passing of Guan Jingsheng, known as the "Father of Chinese Securities," marks the end of an era in the financial industry [1][3] Group 1: Personal Background - Guan Jingsheng was born in 1947 in a poor village in Jiangxi and excelled academically, earning dual master's degrees in law and business administration from universities in Shanghai and Brussels [3] - He was instrumental in establishing the first securities company in Shanghai, Wangguo Securities, in 1988, which grew rapidly to become a major player in the industry [3] Group 2: Career Highlights - Under Guan's leadership, Wangguo Securities became a significant force in the Chinese securities market, contributing to the establishment of the Shanghai Stock Exchange [3] - His reputation as the "Father of Chinese Securities" was solidified during this period due to his pivotal role in shaping the industry [3] Group 3: Major Setbacks - The "327 Bond Incident" in 1995 led to a catastrophic loss for Wangguo Securities, resulting in Guan's resignation and subsequent imprisonment for 17 years due to financial misconduct [4] - The incident involved a massive sell-off of bond futures, amounting to 14.6 trillion yuan, which was nearly one-third of China's GDP in 1994 [4] Group 4: Later Years - After being released in 2003, Guan returned to the financial sector in 2016 by founding the Shanghai Jiusong Shanhe Equity Investment Fund Management Company, marking his third entrepreneurial venture [4] - His legacy continues to influence the Chinese securities market, with both his successes and failures serving as lessons for future generations [5]