China's multi-tiered capital market, with the exception of exchanges for standardized assets such as stocks and bonds, is not well known to investors in the exchange that actually contribute the most to the real economy.
It is the Gold Exchange.
The gold exchange relied on local governments to debut
The full name of the Gold Exchange is "Financial Assets Trading Center" or "Financial Assets Exchange", which is a comprehensive financial service platform approved by the provincial people's government agencies.
In the entire market, the gold exchange is part of the OTC market.
In May 2010, Tianjin and Beijin were born, becoming the first two exchanges.
By the end of 2011, there were 7 more gold exchanges nationwide, distributed in Anhui, Chongqing, Shenzhen Qianhai, Dalian, Hebei, Sichuan, Wuhan, and one was Lu Jin, and the first ten gold exchanges, except for the Tianshi And Lujin, all passed the acceptance of the inter-ministerial joint meeting of the State Council to clean up and rectify various trading venues.
The gold exchange established after 2011 has not been able to obtain industrial and commercial registration under the name of the financial asset exchange, but has been replaced by the names of financial asset trading center, Internet financial asset trading center and equity trading center. In fact, the permissions and functions of the exchange and the trading center are the same. However, those that pass the acceptance of the inter-ministerial joint meeting directly under the State Council are named exchanges, and those approved by the provincial government are usually named trading centers.
The Company has a wide range of business types
The business scope of the Gold Exchange is all-encompassing, and its main business is four categories: underlying asset trading, equity asset trading, financing business and intermediary business.
Most of the financial assets traded on the Exchange are non-standard assets. Others include accounts receivable, equity debt investment, trust beneficiary rights, financial lease income rights, commercial paper income rights, etc.
With the implementation of the new regulations on asset management, the era of non-standards is about to pass, the good days of the gold exchange are gone, and the gold exchanges in various places will also be greatly reduced and will soon come to an end.