Representatives from five shareholders, including China Construction Bank and Morgan Stanley, signed the agreement at the Diaoyutai State Guesthouse in Beijing, with Wang Qishan serving as the first chairman, marking the official establishment of CICC.
Legislative Council member Tu Jinshen, at a Legislative Council meeting, raised concerns about the Hong Kong government's security policy, stating that the Minister of Public Security's remarks on the Patriotic Triad undermined the morale of Hong Kong law enforcement officers, and expressed worry that triad figures might exchange political donations for preferential treatment.
On September 7, 1994, the film 'In the Heat of the Sun' was submitted to the Film Bureau for censorship. The Bureau proposed seven modifications, but Jiang Wen argued his case and ultimately managed to keep 'The Internationale' in the group fight scene.
Zhang Yimou's film “To Live” won the Jury Prize at the Cannes Film Festival, and Ge You won the award for Best Actor. The film was not released in mainland China because it directly confronted the devastation inflicted on ordinary people by political campaigns such as the Cultural Revolution.
Deng Zhifang, the younger son of Deng Xiaoping, lost nearly 200 million RMB at the Casino Lisboa in Macau. The debt was subsequently covered using overseas public funds from Shougang by Zhou Beifang, which triggered Zhou's eventual arrest and sentencing.
On January 1, 1994, the official and market exchange rates of the Renminbi were merged, forming a unified exchange rate.
In 1994, China carried out price reform, abolishing the dual-track pricing system of capitalism and socialism, and the problem of official profiteering (guandao) was initially resolved.
With the China Three Gorges Project Corporation acting as the credit entity, the China Development Bank provided a massive 30 billion yuan, 15-year loan for the Three Gorges Project. At that time, Yu Xiaoping was responsible for related financing at the head office.
From Beijing with Love was released; the scene in which the protagonist pays the firing squad 100 yuan and is then politely escorted out the door is interpreted as a satire on the darkness of the judiciary and the power of money to open every door.
To attract overseas capital and encourage foreign investment, China introduced a rule temporarily exempting dividends and bonuses received by foreign individuals from foreign-invested enterprises from individual income tax.
In 1994, the Budget Law was passed, further improving China's modern financial framework.
After recording the special episode of the Zhengda Variety Show, Yang Lan flew to New York, successively studying at New York University and Columbia University, during which time she met Wu Zheng.
Feng Xiaogang partnered with Wang Shuo to establish the Haomeng Company, and with Wang Shuo's help, he adapted and directed his first film, "Gone Forever with My Love".
Zhu Rongji pushed forward the tax-sharing reform, allocating 75 percent of value-added tax to the central government and retaining 25 percent for local governments, while establishing a vertical national tax team. This led to a massive surge in central government fiscal revenue alongside a sharp increase in local fiscal pressure, laying hidden dangers for land finance and local government debt.