证券时报记者 杨丽花

The securities times reporter talking Yang li-hua with

　　9月份，泰山、郑州、成都三家文交所先后宣告取消艺术品份额交易，至此国内仍在进行艺术品份额交易的仅剩下天津文交所。曾经轰轰烈烈的艺术品份额交易，正在退潮。

In September,Mount tai/zhengzhou/Chengdu three into the text has declared cancel art share trading,So far the domestic still on art share trading left tianjin into the text.Once magnificent and victorious art share trading,Is ebbing.

　　开展艺术品份额交易的文交所，深圳最早宣布按发行价回购，取消艺术品份额交易。这也给其他文交所的处理方案和态度，带来示范作用和处理压力。

Carry out art share trading into the text,Shenzhen earliest announced price according to repurchase,Cancel art share trading.It also gives other text into the treatment scheme and attitude,Bring demonstration effect and processing pressure.

　　天津、郑州、成都、北京汉唐、山东泰山五家文交所投资人为了敦促文交所尽快做出善后处理，成立了文交所维权联盟，通过多种渠道给文交所施压。虽然各家文交所都表示会贯彻《国务院关于清理整顿各类交易场所切实防范金融风险的决定》（国38号文）的精神，接受部际联席会议的领导，但是又强调自身特色和优势，希望通过交易规则的调整，保留艺术品份额交易。

tianjin/zhengzhou/chengdu/Beijing han/Shandong taishan five text into the investors to urge the text into a rehabilitation treatment as soon as possible,Established the text into the rights alliance,Through a variety of channels to text into the pressure.Although their hand in the text have said would be implemented[The state council on all kinds of trading places rectifications to guard against financial risk decision](Countries 38 wen)spirit,Accept BuJi joint meeting leadership,But they also emphasize their own features and advantages,Hope that through the adjustment of trade rules,Keep art share trading.

　　然而9月份，各家文交所的态度发生大逆转。河南省清理整顿各类交易所领导小组办公室9月10日对郑州文交所发文称，“你所（郑州文交所）的规范整改工作进度与国务院和省政府清理整顿各类交易场所的要求还有较大的差距”，因此要求其规范整改，并且提出明确要求：“按照全部取消份额化产品的原则，敦促份额化产品原持有人通过协议转让或回购等方式，尽快满足投资人要求权益回购的愿望”。

But September,Each text into the attitude there is a major reversal.Rectifications in henan province, the office of leading group for all kinds of exchange on September 10, in zhengzhou text into the outgoing mail said,"What you(Zhengzhou text into the)Standard rectification work progress and the state council and the provincial government and rectify the requirements of all kinds of trading places have a big gap",So ask its regulating action,And give clear requirements:"According to the abolition of all share the principle of chemical products,Urged share change product original holder through the agreement transfer or repurchase, etc,As soon as possible to meet the desire of the buyback rights for investors".

　　郑州文交所的转变与成都、泰山类似，都是在当地政府的要求下取消艺术品份额交易，并且要满足投资人要求权益回购的愿望。成都的做法是引入机构投资者，据成都文交所董事长王春介绍，机构投资者为当地文化集团；泰山是按艺术品份额投资的加权平均价进行回购，最快本周投资人将会收到第一部分的回购款项。而郑州文交所董事长王迪称，郑州文交所已与艺术品份额持有人协商，目前的方案是由第三方机构购买所有的艺术品份额（包括原艺术品持有人份额和流通中的艺术品份额），取得艺术品所有权后，成立艺术品基金，对艺术品进行开发。但是协议转让价格尚没有达成统一意见。汉唐文交所的处理方案也在交涉中，由于汉唐文交所最早停牌，且没有明确的政府背景支持，艺术品份额取消当在预期之中。

Zhengzhou text into the transformation and chengdu/Mount tai similar,In the local government is required to cancel art share trading,And to meet the requirements of the buyback rights investors wish.The practice of chengdu is the introduction of institutional investors,According to chengdu, the chairman of the board in WangChun is introduced,Institutional investors for the local cultural group;Mount tai is to press art share investment weighted average price makes repurchase,This week the fastest investors will receive the first part of the buyback money.And zhengzhou text into the chairman of the board WangDi says,Zhengzhou text into the already and art share holder consultation,The current plan is by the third party institutions to purchase all the art share(Including the original artwork holder share and circulation of the art share),Get art after the ownership,Art fund was established,Development of art.But the agreement transfer price is still failed to reach a consensus.Wen tang into the treatment scheme is also in the negotiations,Because the tang wen into the earliest suspended,And no clear government background support,Art share cancel when the expected.

　　至此，天津文交所成为目前唯一一家开展艺术品份额交易且又在正常运营的交易所。在艺术品份额交易的问题上，天津影响涉及人群最为广泛，艺术品波动幅度最大，运营时间最长，投资人理解现分歧：一是认为现在只剩天津一家，取消艺术品份额交易，回购投资人份额是大势所趋；二是认为天津或者可以取得艺术品份额交易所试点资格。随着清理整顿工作的深入开展，谜底揭晓为期不远。

So far,Tianjin into the text as the only one at present in art share trading and and in normal operation of exchange.In the works of art on the issue of share trading,Tianjin influence people involved in the most widely,Art fluctuation range maximum,Operation time longest,Now investors understand differences:One is that now there are tianjin a,Cancel art share trading,Investors share repurchase is the trend of The Times;The second is that tianjin or can achieve art share exchange pilot qualifications.With the in-depth development of the rectifications program,Mystery solved in the near future.