Five of China’s Regional Equity Markets to Participate in Blockchain Development Trials
China’s securities regulator has given its approval to blockchain development trials for the equity markets of five Chinese regions.
The China Securities Regulatory Commission (CSRC) released the “Letter Concerning Agreement in Principle to the Development of Blockchain Work for Five Regional Equity Markets Including Beijing, Shanghai, Jiangsu, Zhejiang and Shenzhen” (关于原则同意北京、上海、江苏、浙江、深圳等5家区域性股权市场开展区块链建设工作的函) on 7 July 2020.
The move comes after regional equity markets including the Beijing Equity Trading Centre (北京股权交易中心) and the Shenzhen Stock Exchange teamed up to launch a “regional equity market intermediary credit link (区域性股权市场中介机构征信链), to establish a blockchain for the sharing of operating information by intermediary institutions.
The undertaking was the first blockchain-application project to go online in China’s securities sector in November 2017.