State-Owned Property Trading Goes On-Line in Shanghai

The Shanghai Property Rights Exchange (SPRE) has created a new Internet bulletin at its website www. SAEEIS. Org to provide property dealing information about state-owned enterprises (SOEs).

Fifty eight intention for reorganization and the completion of assets appraisal of 59 State-owned enterprise in Shanghai in January are available at the website. These enterprises include chemical, light industry, textile and the service industries with a total transaction worth 5.5 billion yuan (647 million U.S. dollars).

SPRE said that the enterprises involved can obtain relevant and detailed restricted information through their agents at SPRE. Contractors can also offer or negotiate new contract and dealings on-line.

As the official capital market for the restructuring SOE assets, SPRE has clinched 696 SOE property transactions worth 20.3 billion yuan (2.4 billion U.S. dollars), since reforms were carried out four years ago. As reforms expand, SPRE predicts an increase in dealings this year.

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