Tianjin assets exchange debuts

TIANJIN - China's first officially registered financial assets exchange debuted at the 4th China International Private Equity Forum in Tianjin on Friday as an integrated financial institution offering a wide range of solutions to investment and finance companies.

Industry experts said the formal establishment of Tianjin Financial Assets Exchange was a significant innovation in the financial arena, as it will serve as a trading platform for financial assets, particularly for banks' non-performing assets.

The assets exchange completed its registration on May 21, the earliest in China, and has so far wrapped up transactions worth 600 million yuan ($87.9 million), said Zhou Liyao, chairman of the exchange.