Property Right Exchanges Focus on Shanghai

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Last updated at: (Beijing Time) Saturday, November 23, 2002

Property Right Exchanges Focus on Shanghai

Nearly 100 projects worth of 3.5 billion yuan (422 million US dollars) were recommended Friday for property-right exchanges at an investment fair held in east China's business hub Shanghai.

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Nearly 100 projects worth of 3.5 billion yuan (422 million US dollars) were recommended Friday for property-right exchanges at an investment fair held in east China's business hub Shanghai.

Enterprises from 10 provinces along the Yangtze River attended the fair initiated by the Shanghai Property Rights Exchange.

These projects involve new high technologies, standard workshops, land development, securities, patented technologies andthe restructuring of assets.

Huang Dawei, vice-president of the Shanghai exchange, said the property right exchange market in the Yangtze Valley is expanding fast.

Currently, 11,800 transactions with a combined turnover of 250 billion yuan (30 billion US dollars) have been handled by the exchange. In 2001, Jiangsu and Zhejiang provinces contributed to as much as 24 billion yuan (about 2.9 billion US dollars) to the exchange's turnover.

Huang said they would strive to build the property right exchange into a national market in China.

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