CMEX (China Milan Equity Exchange) is the first
equity exchange platform set up in Europe to help European companies gain access to the ongoing
privatization
Privatization (also privatisation in British English) can mean several different things, most commonly referring to moving something from the public sector into the private sector. It is also sometimes used as a synonym for deregulation when ...
process of Chinese
State-owned enterprise
A state-owned enterprise (SOE) is a Government, government entity which is established or nationalised by the ''national government'' or ''provincial government'' by an executive order or an act of legislation in order to earn Profit (econom ...
s. China's equity exchanges were set up by the Chinese government in an effort to ensure the transparent, regulated, fair and open privatization of state-owned
equity
Equity may refer to:
Finance, accounting and ownership
* Equity (finance), ownership of assets that have liabilities attached to them
** Stock, equity based on original contributions of cash or other value to a business
** Home equity, the dif ...
.
Background
In 2003, the Chinese Government launched the widest privatization policy of State-owned enterprises ever implemented in the world's economic history. Thousands of State-Owned companies were put on sale through a standardized procedure designed to ensure transparency and efficiency in the acquisition process by private enterprises.
Foreign companies have the chance to participate to the bidding process for the privatization of Chinese state-owned companies through equity exchange platforms that are directly supervised by the State Assets Supervision Administration Commission (SASAC).
CBEX (
China Beijing Equity Exchange
China Beijing Equity Exchange (CBEX; ) is an equity transaction bourse and platform run by the government of Beijing for mergers, acquisitions and restructuring of state-owned enterprises.
Background
China Beijing Equity Exchange was established ...
) is the Chinese largest equity exchange, having completed 4,151 transactions in 2008 for a combined value in excess of 10 billion Euros.
Since 2007, CMEX is the exclusive partner in Italy of CBEX, operating as a collector and processor of financial information available through the CBEX platform for the scouting of Chinese private and State-Owned Enterprises. CMEX assists Italian and European investors interested in penetrating the Chinese M&A market.
Within the Go Global strategy (
Go Global
Go Out policy () is the People's Republic of China's current strategy to encourage its enterprises to invest overseas.
Most nations favour attracting inward foreign investment, and support outward foreign investment only passively. The People ...
), promoted by the Chinese Government to encourage its enterprises to invest overseas, CMEX also represents a privileged channel for Chinese companies wishing to expand their business abroad.
CMEX originates from a business project of the Law Firm "Carone & Partners - in association with Grandall Legal Group".
External links
China Milan Equity ExchangeChina Beijing Equity Exchange
{{Portal bar, China
Economy of China