The first round of skyrocketing and plunging: 100 points — 1429 points — 400 points. Using December 19, 1990 as the base period, China's stock market started at 100 points; on May 26, 1992, the Shanghai Composite Index surged to 1429 points, marking the "peak" of China's stock market's first major bull run. In one and a half years, the Shanghai Composite Index soared by 1329%. Following this, the stock market rapidly and panic-strickenly plummeted, and after five months of steep decline, on November 16, 1992, the Shanghai Composite Index fell back below 400 points, almost reverting to its original state.