China Beijing Equity Exchange (CBEX), a state equity exchange company, signed an agreement with PricewaterCoopers (PxC) Thursday, to facilitate international transactions of state-owned Chinese businesses (SOEs), said CBEX President Xiong Yan.

According to China's current laws and regulations, each ownership transfer involving SOEs has to be performed in an equity exchange authorized by the government. CBEX operates as an equity and assets transaction platform when international investors want to enter the Chinese market.

"To cooperate with world renowned intermediaries could help CBEX to introduce more foreign investments for SOEs during their ownership transformation," said Xiong.

PwC (Shenzhen), one of the world's top four consultant firms, will take part in CBEX's international transaction businesses and conduct SOE's property exchanges for CBEX, according to the agreement.

In the next few years State-owned assets worth trillions of yuan are expected to transfer through CBEX, according to the company's website.

Source: Xinhua