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Property Transaction in Shanghai Hit Record High in 2000
As an important component of Shanghai capital market, Shanghai property right trading market registered its highest ever turnover in 2000.
According to statistics, Shanghai Property Right Exchange Center concluded 2794 deals, totaling 48.031 billion yuan, of various corporate property rights last year, an increase of 2.06 times and 1.74 times respectively over the preceding year.
The transactions of last year indicated Shanghai's economy shows new trends.
The first is the pace of the state capital's withdrawal from ordinary competitive area has been accelerated and the purchase scale of various buyers is expanding. In 2000, state-owned enterprises concluded 740 deals of property right transfer at the exchange center and sold property rights worth 6.8 billion yuan, a rise of 2.21 times and 1.4 times respectively than the previous year.
The second is that market-oriented capital restructurings by diversified principal investors through taking stakes or controlling shares stand out and the proportion of mixed economy in Shanghai economy is rising. 70 percent of the turnover of Shanghai Property Right Exchange Center last year was of share right transaction, which radically changed the past trading pattern that focused on integral property right. Diversification of corporate share right structure will bring unprecedented vigor to Shanghai's economy.
The third is that the commercialization of hi-tech results is expedited. The property right market has become main channel for hi-tech enterprises to transfer share rights to gain venture investment. Shanghai Property Right Exchange Center wrapped up 220 hi-tech deals last year with their turnover rising to 10 percent of the total transaction volume.
Source: Panorama
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