(FORTUNE Magazine) – China's first stockbroker will begin operation in Shanghai next month, trading in the shares of just over ten local companies that have sold equity to the Chinese public . . . Just under 20 Shanghai companies have raised funds over the past year by issuing shares . . . The largest offering was that by Yanzhong in January this year. A total of 18,000 people mopped up the five million yuan of shares within eight hours . . . -- From a news report in the Financial Times.