Transaction Exchange Union has accelerated information-sharing, and expanded cross-regional industries and multi-ownership businesses.

In a bid to boost mutual development, an integrated equity exchange market union was established in April 2002.

Started by seven exchanges including Tianjin, Beijing, Hebei, Henan, Heilongjiang and Qingdao, 16 institutions jointly initiated the foundation of the market union.

In the union's first session in April 2003, delegates from the exchanges put forward regulations on the Northern Equity Transaction Exchange Union and its operations.

Gao Luan, President of the Tianjin Property Rights Transaction Centre was elected as the chairman of the union.

In the last two years, the integrated market union has developed rapidly.

Its membership exchanges have increased from an early 16 to 43 in 16 provinces, municipalities and autonomous regions of northern China.

Two southern exchanges in Guiyang in Guizhou Province and Hefei in Anhui Province also participated in the union.

Taking the subsidary exchanges of the 43 membership exchanges into consideration, the total members of the union are 118.

In 2003, several research conferences and forums were held in Hebei, Henan, Fujian and Heilongjiang.

As well, the union has also takensteps to enhance strategic partnerships.

A high-profile forum on restructuring of State-owned enterprises and the development of the equity market was held in December last year.

Simultaneous listing and information sharing platforms have greatly benefited its members in different regions.

Last year, listed items on the integrated market were more than 1960.

The union also put forward some strict regulations on equity exchanges in China, now standard on the domestic market.

It has also drafted seven documents on non-listed stock companies.

The simultaneous listing of relevant information has expanded from the early eight provinces, municipalities and autonomous regions to the present 14 ones.

The centre also signed agent partnership contracts with members of the union in a bid to improve its services to State-owned enterprises.

Last year, total trading volume of the union was 106.5 billion yuan (US$12.9 billion), twice the figure of 2002. The cross-regional trading recorded 16.9 billion yuan (US$2.1 billion).

Presently, the union is mapping out its blueprint for future development.

Aiming at expanding market size, the union will strive to establish a more extensive network, covering the European Union, the United States, Japan, and the Hong Kong and Macau special administrative regions.

It is expected to increase the number of domestic membership exchanges to 100 and set up over 10 overseas branches.

The union will be dedicated to sharpening its competitive edge by offering a first-rate service platform, improving business in market management, research and development, agent consultation, information exposure and capital settlement.

In 2004, the union has set ambitious targets and expects to double its 2002 trade volume. It is expected that trade volume of each of the four to six members will exceed 100 billion yuan (US$12 billion).