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Equity exchanges engaging in property trading

(Xinhua)
Updated: 2006-03-29 14:21

State-owned assets management agencies had designated 64 equity exchanges across China to engage in trading of state-owned equity by the end of 2005.

Li Rongrong, director of the State-owned Assets Supervision and Administration Commission (SASAC) of the State council, gave the remarks at a forum on the state-owned equity management.

According to the SASAC statistics, up to 3,622 transactions, or 108 billion yuan (13.5 billion US dollars), of state-owned equity took place in the three equity exchanges in Beijing, Tianjin and Shanghai, which are designated by SASAC for equity exchange of the 167 central state-owned enterprises (SOEs).

The trading volume was 6.47 billion yuan more than the assessed value, up 6.4 percent on average. For those open-pricing items, the increment was 24.8 percent on average and more than 40 percent for about one fourth of them.

Through across-nation delivery of state-owned equity registering certificates, the SASAC has basically grasped the distribution of state-owned assets, Li said, noting it has paved the way for SASAC to adjust the state-owned economy.