Central China City Opens Property Rights Market

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Last updated at: (Beijing Time) Sunday, June 29, 2003

Central China City Opens Property Rights Market

Wuhan, the capital of Hubei Province and the largest metropolis in central China, has established a unitary market to trade property rights by merging three smaller property rights exchanges.

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Wuhan, the capital of Hubei Province and the largest metropolis in central China, has established a unitary market to trade property rights by merging three smaller property rights exchanges.

The three former exchanges are Wuhan Property Exchange, Wuhan Technology Exchange, and Wuhan China Optical Valley Technology Rights Exchange.

The newly-founded market adopts corporate mechanisms but will not be profit-oriented, according to official sources. The market merely maintains its operation by collecting service charges from the members.

The founding of the market is part of the city's efforts to initiate a new round of reforms in the state sector, according to local officials.

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