Property Rights Exchanges in China

China's property rights exchanges were established in the late 1980s to enable the Chinese authorities to dispose of state-owned assets as part of the reform of the country's state-owned enterprises. However, now that the proportion of state-owned assets traded on these exchanges is expected to decline over the long term, they are trying to diversify (e.g., to become a platform for private equity investment) and to play a role in China's creation of a multi-layer capital market. As well as dealing with the history, current state of development, regulations and procedures of these exchanges, this report considers the challenges facing them and their likely future development