Deutsche Boerse Group, the Tianjin Property Rights Exchange (TPRE), State-owned Assets Supervision and Administration Commission (SASAC) of Tianjin Municipal People’s Government, and the German Agency for Technical Co-operation (GTZ) have signed a four-party Co-operation Term Sheet (CTS) in order to internationalise the German and Chinese financial markets.
“Property Rights Exchanges are crucial for China’s future capital flows,” says Gao Luan, the Director of Tianjin Property Rights Exchange (TPRE) and Chairman of the Executive Council of North United Assets & Equities Market (NUAEM). “They are fundamental for assets reform and the platform for accumulative capital and increment capital, bridges for unions of high-tech industry and traditional industry, channels for foreign M&A and foreign capital.”
The four parties signing the Co-operation Term Sheet (CTS) will also work together in the areas of management, regulation and operation to assist TPRE in its transformation project of providing an efficient capital market infrastructure. TPRE is one of the three national Chinese institutions appointed by SASAC for the transfer of ownership of state-owned enterprises under control of the Central Chinese Government. TPRE supports assets transfers throughout China.
“We are proud to be able to announce an alliance with TPRE and Tianjin SASAC. This cooperation agreement will be an important step towards bringing European and Chinese market participants closer together,” adds Rainer Riess, the Managing Director of Stock Market Business Development.