Alliance established to smooth trading in equity investment funds

A new vehicle has been set up in Beijing to make it easier for investors to buy and sell shares in equity investment funds, as the IPO market remains in the doldrums.

The China PE Secondary Market Development Alliance is expected to be made up of a group of venture capital and private equity firms, commercial banks, securities companies and financial service institutions, who can help investors trade shares on the Beijing Financial Assets Exchange.

Talking at the launch on Thursday, Yu Bo, president of the new alliance, and vice-president at Beijing Financial Assets Exchange, said that by the end of 2015, he hopes to have 2,000 member organizations, and for them to have completed 1,000 deals worth 30 billion yuan ($4.72 billion) in the PE secondary market.