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November 22, 2009

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Expo assets for auction

WORLD Expo 2010 Shanghai assets -- from calligraphies and paintings to administrative offices and facilities -- are expected to go under the auctioneer's hammer when the event is over.

The Expo authority's asset management body was founded yesterday led by the state-owned Shanghai International Commodity Auction Co Ltd.

With the attendance of 192 countries and 50 international organizations, the organizers will have a huge amount of valuable assets, company Chairman Xu Mianzhi said.

World Expo assets include real property such as temporary pavilions, exhibits and art works but also intangible assets such as Expo-related trademarks, the mascot, the theme music and others.

Xu said his company had handled Olympic-related asset sales after the 2008 Beijing Games.

"And we will provide an open, highly efficient legal platform after the World Expo," he said.

As well as an on-site auction, the company will sell Expo-related assets via online bidding, sealed bids and live broadcast auctions.

Huang Jianzhi, deputy director of the Bureau of Shanghai World Expo Coordination, is optimistic about the outcome.

"The auction of Expo-related assets will help promote both the economic development and international influence of Expo," he said.


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