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Chongqing United Assets and Equity Exchange Launches New Energy Vehicle Trading Zone

By VIVIAN YANICHONGQING|May 12,2022

Chongqing- Chongqing United Assets and Equity Exchange recently launched a new energy vehicle trading zone through the Internet. The first batch of approximately 1,000 BAIC New Energy EC3 pure electric vehicles worth more than 10 million yuan (about 1.49 million U.S. dollars) was launched. It is expected that more than 20,000 new energy vehicles will be listed on the Chongqing United Assets and Equity Exchange this year.

Regulating the circulation of state-owned property rights in order and preventing the loss of state-owned assets, Chongqing United Assets and Equity Exchange is designed to transfer state-owned property to central and financial enterprises, where its business covers more than 30 varieties in seven categories, including state-owned property rights, project bidding, government procurement, land and mineral rights transfer, drug and equipment procurement, environmental rights transactions, and judicial auctions.

Additionally, it is also a national judicial network service determined by China’s Supreme People’s Court, the sole third-party payment license in the national factor resource trading market, and was permitted to set up the industry’s first nationwide post-doctoral workstation. Shenzhen, Guangzhou, and other cities have also learned from their experience in operating public resource trading platforms with state-owned enterprise systems and mechanisms.

BAIC New Energy EC3 pure electric vehicles. (Photo/ BAIC)

The launch of the new energy vehicle trading zone is an active action to play the advantage of the property rights market in optimizing resource allocation.

According to the Chongqing United Assets and Equity Exchange, through actively gathering interested vehicle buyers, disclosing information and promoting projects, completing asset disposal, and accelerating the product line updates, the group will build a platform for buyers and sellers, contributing to building a green high-level travel service system and achieving the “dual carbon” goal. 

The “dual carbon” goal refers to China’s goal of realizing peak carbon emissions by 2030 and achieving carbon neutrality by 2060.

Meanwhile, Chongqing United Assets and Equity Exchange will provide one-stop “online + offline” services, including registration, online auction, deposit payment, and other links, which will ensure every intended buyer understands the operation and completes the high-quality transaction and disposal of new vehicles during the whole service process.

Chongqing Chang’an New Energy Vehicles Technology Co., Ltd., a representative enterprise in new energy vehicles in the area (Photo/Chongqing Chang’an Group)

For the second-hand new energy car industry, this project also performs a good reference role for the listing and valuing the new energy used vehicle disposal project in the future.

Chongqing was one of China’s main old industrial bases, dominated by heavy industries. (iChongqing/ Vivian Yan)

(Wang Yuxuan, as an intern, also contributed to this report.)

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