On March 19, China National Chemical Corporation (ChemChina) won the “Gold Exchange Award” and “Innovation Award for Best Property Transactions” during the presentation ceremony of the Central Enterprise Property Transactions at China Beijing Equity Exchange.
ChemChina pays close attention to the efficient allocation and integration of assets by establishing rules and improving procedures to regulate the transfer and disposal of assets. In recent years, ChemChina has successfully finished several property transactions, of which some transactions have realized bidding transfers. It not only ensures inflation-proofing and appreciation of State-owned assets, but also accumulates the rich experience of asset disposals.
In 2009, ChemChina realized 13 listing transfer projects with a total value of 204 million yuan; eight successful deals worth 154 million yuan; direct auction of three bankrupt projects worth 6.6 million yuan; four authentications of free transactions worth 358 million yuan; three authentications of separation between main business and auxiliary business worth 16 million yuan. In addition, ChemChina holds public auction of properties of bankrupt enterprises by property trading platform for the first time, which is an innovation of property transaction market as well as asset disposals of State-owned enterprises. (Zheng Xiaowei)