On June 22, 1982, the People's Daily reported the completion of the task of subscribing for treasury bonds across the country. At the beginning of reform and opening up, in order to concentrate financial resources on modernization, the State Council passed the "Treasury Bill Regulations" in 1981 and began to issue treasury bills. Yang Baiwan, who is known as "the first shareholder in China" and Shanghai, earned his first bucket of gold by reading the People's Daily and local party newspapers, carrying sacks across the country to earn price differences.