China Allows Regional Equity Markets To Experiment With Blockchain In The Equity Trading Industry
China Allows Regional Equity Markets To Experiment With Blockchain In The Equity Trading Industry
July 22, 2020
China Allows Regional Equity Markets To Experiment With Blockchain In The Equity Trading Industry
China Allows Regional Equity Markets To Experiment With Blockchain In The Equity Trading Industry
July 22, 2020

China Securities Regulatory Commission (CSRC) allows regional equity markets to experiment with blockchain in the equity trading industry. They will include equity centers in Beijing, Shanghai, Jiangsu, Zhejiang, and Shenzhen, as these and other regions received authorization to begin experimenting with a blockchain pilot in early July. 

It has been reported by Beijing Local Financial Supervision and Administration that the next step for the CSRC is to guide Beijing Equity Trading Center to carry out the blockchain pilot. The trading center in Beijing has allegedly built a “relatively perfect infrastructure” for equity registration, custody, and transaction transfer.

However, the administration notes that they have taken the lead in online equity registration custody and equity change of enterprises in China.

It has been analyzed that as of June 30, 2020, Beijing’s Equity Trading Center has served more than 1000 unlisted joint-stock companies in the city, as they have been entrusted with equity for 9 commercial banks, including 1 rural commercial bank, 1 private bank, 1 direct selling bank, and 6 rural banks. Their total share capital is more than 21 billion yuan, or roughly $3 million.

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Likewise, Beijing Equity Trading Center, together with Shenzhen Stock Exchange and other regional equity market operators, reportedly launched a regional equity market intermediary credit reference blockchain in late 2017.

Thus, Chinese experts also held a seminar to explore implementing blockchain in China’s new “social credit system.”

Source: Cointelegraph | Image: Pixabay


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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.