Nasdaq Closes at 4041, First Time Above 4000
On December 29, 1999, the Nasdaq Composite closed at 4041.45 points, crossing the 4000 mark at the close for the first time, marking its 60th closing record of the year.
On December 29, 1999, the Nasdaq Composite closed at 4041.45 points, crossing the 4000 mark at the close for the first time, marking its 60th closing record of the year.
In November 1999, Jiang Zemin instructed Zhu Rongji to facilitate the China-US WTO accession negotiations at all costs, and the basic framework was ultimately determined.
On November 3, 1999, the Nasdaq Composite closed above 3,000 for the first time (at about 3,028), its fourth consecutive closing record, after which it entered a phase of rapid ascent.
In 1999, the market gradually came to believe that the Y2K risk had been exaggerated; to guard against year-end liquidity problems, the Federal Reserve set up backup financing and special liquidity arrangements.
During the handling of the Yuanhua case, Xi Jinping drew attention for his clean image, was promoted to acting governor of Fujian Province, and cooperated with the central authorities in handling the case.
At the Fourth Plenary Session of the 15th CCP Central Committee held in September 1999, Hu Jintao was added as Vice Chairman of the Central Military Commission of the CCP Central Committee.
In June 1999, under the leadership of Harbin Institute of Technology professor Fang Binxing, the National Computer Network Emergency Response Technical Team/Coordination Center of China was established, aiming to technically block Chinese people from accessing overseas networks, and becoming the origin of the Great Firewall.
On May 8, 1999 (Beijing time), bombs dropped by a US Air Force B-2 bomber of NATO hit the Chinese Embassy in the Federal Republic of Yugoslavia, killing 3 Chinese journalists; people in many parts of China subsequently took to the streets to protest.
In 1999, the United States bombed the Chinese Embassy in Yugoslavia, triggering a surge of anti-American sentiment in China.
In 1999, the Chinese embassy in Yugoslavia was bombed, triggering a crisis in China-US relations.
In 1999, under Li Hongzhi's direction, Falun Gong leaders across China coordinated via email to launch a mass siege of Zhongnanhai, prompting the Chinese Communist Party (CCP) to tighten internet controls.
On April 20, 1999, central leaders issued instructions to thoroughly investigate the Xiamen Yuanhua smuggling case, and the “April 20” special task force was established to probe the smuggling and corruption of Lai Changxing’s Yuanhua Group.
In April 1999, Zhu Rongji visited the United States to negotiate China's entry into the WTO and made a number of concession commitments.
Shanghai software engineer Lin Hai was sentenced to two years in prison for providing 30,000 collected Chinese email addresses to the overseas anti-communist digital journal "VIP Reference," becoming the first person in China to be imprisoned for internet-related activities.
The China Development Bank established its first branch, the Wuhan Branch. Yu Xiaoping was personally appointed by the head office as the inaugural president and party secretary, tasked with supporting the second-phase water storage of the Three Gorges Project and the subsequent listing of China Yangtze Power.
The central bank specified that the maximum term for personal housing loans issued by commercial banks with credit funds will be extended from 20 years to 30 years.
Li Wei met Wang Yi, then vice chairman of the China Securities Regulatory Commission (CSRC), through Li Jiating, and afterwards began taking heavy positions in listed companies under Sinopec.
In 1999, the number of university students enrolled in China surged from 1.08 million to 1.6 million, as higher education began its transition toward mass enrollment.
After the Yuanhua case broke out in 2000, Lai Changxing fled to Canada and hid for many years.
China entered an aging society in 1999, and illnesses among the elderly increased; the National Health Commission says that population aging is accelerating and clinical blood demand keeps rising, while the imbalance between blood supply and demand remains fairly evident.
Chen Peisi and Zhu Shimao filed a lawsuit in court against a company affiliated with CCTV for publishing and distributing discs containing their Spring Festival Gala sketches without permission, demanding an end to the infringement and compensation.
Hu Liren said that Shanghai Bell Alcatel engineer Zhao Jun and his wife Xu Meiqi, director of the laboratory department of Shanghai Huaihai Hospital, were arrested together with their children in 1999 for practicing Falun Gong, and the whole family went missing afterward; their parents waited for more than 20 years without seeing them return. He said that the then-director of the Shanghai Public Security Bureau and head of the Falun Gong task force was Wu Zhiming.