By Jin Jing (China Daily)
Updated: 2008-01-29 09:39

The turnover on Shanghai United Assets and Equity Exchange (SUAEE) jumped 13.36 percent from 2006 to 95.69 billion yuan last year, with the acquisition from State-owned companies increasing.

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Providing a platform for assets and equity transaction, the turnover of SUAEE has remained the No 1 in China for 13 straight years.

"SUAEE has become an important platform for corporate merger and acquisition and is attracting an increasing number of domestic and foreign investors, including venture capitalists and private equity funds," said Cai Minyong, president of SUAEE.

Around 334 projects have been bought by investment companies with a total of 12.69 billion yuan in 2007.

The transaction turnover on State-owned enterprises' equity buying at SUAEE surged 176.48 percent to 61.166 billion yuan, and that of equity selling amounted to 67.875 billion yuan, up 36.19 percent.

"It shows State-owned enterprises have begun to buy high-quality assets, instead of merely selling them," said Cai.

Modern services industry was the most active sector in 2006, largely because of the Shanghai government's plan to build an international financial center. "SUAEE transactions are shifting from the traditional manufacturing industry to financial and modern services industry," said Cai.

According to statistics from SUAEE, turnover in investment management amounted to 35.25 billion yuan, followed by the transportation sector, with a 140 percent jump, and the financial sector, with a 94.19 percent rise.

SUAEE has set up a global technical property rights exchange platform, which directly connects Shanghai's trading system to seven countries, including Thailand, Nigeria and Turkey, and four international organizations including the United Nations Development Program.

SUAEE plans to expand the platform to 16 countries and regions this year.

Around 454 transactions were completed on the technical platform last year, with the total amount hitting 8.54 billion yuan.