China Securities Year Book(the fourth English edition for 1999)is composed of10 chapters focusing itself on developments of financial and securities markets of thenation in 1998, and systematically introducing securities dealing and administering in-stitutions, and performances of joint-stock enterprises. The Year Book contains newspicture, financial markets in China, securities markets in China, fund markets in Chi-na, securities administrations and exchanges, social service offices,securities businesscompanies, listed companies on stock exchanges,science and technology in securitiesindustry, figures in securities industry, etc. There are 50 color and black-and-whitepictures.China Securities Year Book 1999 generally maintains the continuation of contentsand structure of the last annual, and newly includes sections on financial markets, pro-files of figures in securities industry, and trends of securities markets in Hong Kongand Taiwan. Information contained in the Year Book originates directly from an-nouncements or reports, and data from the State Council and authorities of provincesand cities, so the authority and accuracy of the Year Book are ensured. However, asChinese securities industry and stock systematization reform of enterprises are just atthe initial stage, the Year Book has a certain lag from objective demands in contents,data, criteria, etc. In addition, our capability is still limited. Negligence and mistakesare hard to be avoided. Your understanding and criticism are highly appreciated.