In recent years, the Tianjin Property Rights Transaction Centre has started to boast its unique advantages.

Centre President Gao Luan answered reporter Lu Liren's questions about the operation and mechanism of the centre.

Q: Can you give an introduction on the general operational system at the Tianjin Property Rights Transaction Centre?

A: The centre is composed of a main exchange market, technology stock exchange, stock custody market, assets market and six district-level exchanges.

A new building with 120,000 square metres is expected to be built this year, and our online network provides access to our domestic members.

Q: Could you give some details about the agent system and services your centre offer?

A: We have some 90 exchange agencies, and many skilled transaction agents who have mastered knowledge about equity transactions.

In a bid to enhance our overseas business, we have established strategic partnerships with a number of financial institutions in the United States, Japan and Canada.

We also have business partners in the Hong Kong Special Administrative Region.

Q: What kind of resources can the centre provide to support its services?

A: Many consulting companies, law firms, equity settlement firms, assets auction firms and asset management companies have branches here.

As well, we have invited staff from relevant government bodies including the commercial and industrial bureau, and finance and real estate bureaus to answer clients' questions.

Q: Can you give a brief explanation of the operation processes in your centre?

A: We are striving to streamline the process and provide standardized services to our clients.

For example, we have implemented a standard process involving registration, listing, contract-signing, appraisals and settlement.

As well, the standard forms involving transactions, agent agreements, contracts and appraisal documents which have been widely adopted in the domestic equity exchange market were also first drafted by our centre.

The listing of the trading programmes will last 20 days. We also supervise the qualified agent institutions to ensure that they conduct clear and transparent assessments for the clients.

After trading associated with relevant programmes has been completed, we also ensure that the appraisal department will provide documentation in the matter within three working days.

Q: Every exchange must be supervised by relevant government institutions. What is the supervision mechanism in your centre?

A: The Tianjin municipal financing bureau and supervision bureau are the main supervision organs of our centre.

As the centre has been appointed to be the equity transaction exchange for central State-owned enterprises (SOEs), the State-Owned Assets Supervision and Administration Commission will also monitor our business in a bid to prevent losses and abuses of the SOEs.

Q: As the Tianjin centre is the market leader in northern China's equity exchange market, can you give some details about the expansion of the regional market?

A: The centre was the founder of the Integrated Northern Equity Transaction Exchange Union in April 2002, and its members have been increased. Among them, 30 exchanges have signed agent contracts involving SOE transaction.

Q: It is well-known in the domestic equity exchange market that the mayor of Tianjin attaches great importance to the development to the Property Rights Guide journal of your exchange. What are the future plans for the journal?

A: Yes, the mayor does attach great importance to it. From May of this year, it will start to be published publicly.

Q: Do most of the overseas financial institutions and domestic SOEs focus on the trading fees of your centre?

A: In a bid to relieve the costs for the central SOEs, we won't charge them listing, service and appraisal fees. We have adopted a membership system, and reduced the fees for agent members to the lowest levels, charging them 0.1 per cent of the real trading volume of their equity and assets.