The Yantai Huang-Bohai New Area Public Resource Trading Center completes the procurement of office and teaching furniture for a university's science and education park. [Photo by Jiang Pengfei/provided to chinadaily.com.cn]

The Yantai Huang-Bohai New Area Public Resource Trading Center recently completed the procurement of office and teaching furniture for a university's science and education park.

The procurement effort had a budget of 61 million yuan ($8.64 million) and involved buying more than 500 furniture items, including tables, chairs, beds and wardrobes, for the campus. The furniture is scheduled to be delivered before September.

Due to the urgency of the situation, the trading center opened a "green channel" for public transactions to speed up the completion of the procurement process. This green channel allowed for quick coordination with multiple parties and saw 239 entities make bids.

To ensure that the procurement process took place in an orderly fashion, a dedicated one-way driving area was created and display areas were assigned to each bidding unit. A backup parking lot was also created to ensure that bidding parties could enter the venue smoothly.

The trading center also provided services such as technology support to ensure the smooth progress of transactions.

During the bidding period, transaction management was strictly enforced and latecomers were prohibited from entering the venue, thus ensuring that project bidding and evaluation were standardized, orderly and fair.

"The trading center has since the beginning of this year promoted a new model of fully randomized bidding, reduced transaction costs, improved transaction efficiency and optimized the business environment for public resource trading. Next, we will continue to improve the service level and build an efficient, intelligent and standardized transaction platform," said an official from the center.