In the first half of this year, the total auction transaction volume of Shanghai's auction industry increased by 53.93% year-on-year, and Shanghai's auction industry was thriving
In modern market economy, auctions are widely used in the market-oriented allocation of various resources, such as land, mineral resources, intellectual property, etc. The principles and transaction characteristics followed by auctions, as well as the professional online and offline services they provide, play a special role in disposing of many tangible and intangible assets, including state-owned assets, state-owned enterprise real estate leasing rights, and so on. Recently, Shanghai International Commodity Auction Co., Ltd. successfully auctioned off the 10-year lease right of a building located in Jing'an District, Shanghai, with a total transaction amount of 173.2667 million yuan.
Liu Jianmin, President of the Shanghai Auction Industry Association, introduced that China's auction industry has recovered to this day, especially in the past 20 years. Shanghai's auction industry has leveraged its comparative advantages to serve the reform and opening up, promote resource allocation, and provide professional services for the transfer of property rights and asset disposal of state-owned enterprises. Data shows that from 2011 to 2022, the total auction transaction volume of Shanghai's auction industry reached 665.29 billion yuan. From January to June this year, the total auction transaction volume of Shanghai's auction industry reached 32.023 billion yuan, a net increase of 11.22 billion yuan compared to the same period, with a growth rate of 53.93%.
Liu Jianmin stated that the Shanghai auction industry focuses on fair, open, and transparent state-owned asset auctions, leveraging market mechanisms and allowing data to speak up, contributing to the preservation and appreciation of state-owned assets. For example, from 2015 to 2018, Shanghai Zhongnan Auction Co., Ltd., Shanghai Jinshan Auction Co., Ltd., and Shanghai Qingliange Auction Co., Ltd. organized auction activities for state-owned enterprise real estate leasing rights; Since 2019, Shanghai Guotai Auction Co., Ltd. has held 37 consecutive auctions of state-owned enterprise housing rental rights, with a total transaction amount of nearly 70 million yuan.
Auction enterprises with professional qualifications and capabilities have used the professional auction platform - Shanghai Public Resource Auction Center - to auction public property, confiscated materials, and state-owned assets in accordance with the law, and have achieved remarkable results. From 2020 to 2022, the auction transaction volume of the public auction website reached 36.8197.1 billion yuan. "Multiple transaction methods have more advantages than a single method, and also give state-owned asset disposal institutions greater choices to achieve the maximization of asset value in disposal," said Fan Ganping, director of the Shanghai Auction Industry Research Center.