Project Partner
The Tianjin Property Rights Exchange (TPRE), a state-owned entity under the supervision of the Tianjin State-owned Assets Supervision and Administration Commission (SASAC), was founded in 1994.
Property Rights Exchanges, also called “Merger Centers”, are the first and most important mechanism for the restructuring, mergers and acquisitions of state-owned enterprises (SOEs) in China.
The TPRE is the only institution in Tianjin with the permission to trade assets and equities of SOEs. In addition to this, it is one of three authorized Property Rights Exchanges on a national level which may conduct transactions of SOEs under the direct control of the central government. However, one of the medium-term objectives of the Sino-German cooperation is to develop the TPRE into a market place that can handle any kind of M&A transaction, as opposed to the current limitation to SOE.
In 2002, seven Property Rights Exchanges from Tianjin, Beijing, Shanxi, Henan, Hebei, Harbin and Qingdao organized themselves to form a trans-regional market for property rights transactions, the North United Assets and Equities Market (NUAEM). The director of TPRE is chairman of the executive board of NUAEM, heading the biggest alliance of Property Rights Exchanges in China with 61 members in 19 provinces involving 148 assets and equity institutions.
The Tianjin New Binhai Area was established as a national pilot zone for comprehensive economic and financial sector reforms in 2006. This also brings new opportunities for the further development of the TPRE.