传奇人生落幕 “中国证券教父”管金生逝世

Core Viewpoint - The article highlights the life and contributions of Guan Jingsheng, a pivotal figure in the development of China's capital markets, detailing his achievements, challenges, and the impact of his work on the industry [2][4]. Group 1: Early Life and Career - Guan Jingsheng was born on May 19, 1947, in a poor farming family in Jiangxi Province and later graduated with a master's degree in French literature from Shanghai International Studies University [4]. - He began his career at Shanghai International Trust Investment Company after struggling to find a job in his field [4]. Group 2: Founding of WanGuo Securities - In February 1988, Guan was appointed to establish China's first securities company, WanGuo Securities [5]. - Under his leadership, WanGuo Securities quickly rose to prominence, capturing 70% of domestic A-share trading volume and nearly all B-share trading volume, making it the largest brokerage in China at the time [6]. Group 3: Contributions to Market Infrastructure - Guan played a significant role in the establishment of the Shanghai Stock Exchange, contributing to the design of trading rules, equipment, and training for traders [7]. - WanGuo Securities was the first to enable cross-regional trading and promote paperless transactions [7]. Group 4: Challenges and Setbacks - The "327 bond incident" in February 1995 marked a turning point in Guan's career, where he heavily invested WanGuo Securities' assets in government bonds, leading to significant losses [9]. - Following the incident, Guan resigned and was imprisoned for 17 years, which severely impacted WanGuo Securities, leading to its merger with ShenYin & WanGuo Securities in 1996 [10][11]. Group 5: Later Life and New Ventures - After being released in 2003, Guan publicly reflected on his past mistakes and the importance of humility in leadership [11]. - In June 2016, at the age of 69, he launched a new venture, Jiu Song Fund, marking his third entrepreneurial endeavor [11][12]. - Jiu Song Fund was positioned as a parallel fund aimed at fostering Sino-foreign cooperation and innovation in the private equity sector [12].