Shanghai Announces First Group of 864 Financial Institutions Set to Resume Operation Post-Lockdown

148

Shanghai authorities have released a list of local financial institutions who will soon be permitted to resume certain operations for the first-time since the imposition of a new round of Covid lockdowns at the start of April.

The Shanghai authorities recently released the “Work Plan on Driving Capital Market Financial Institutions to Continue Stable Operation and Better Support Economic and Social Development” (关于推进本市金融机构持续平稳运行更好支持经济社会发展的工作方案), serving as the basis for a list of 864 financial institutions that will be permitted to resume operation.

Key exchanges and financial infrastructure providers are at the top of the list, including:

  • The China Foreign Exchange Trade System.
  • The Shanghai Stock Exchange.
  • The Shanghai Futures Exchange.
  • The Shanghai Insurance Exchange.
  • China Central Depository & Clearing Co., Ltd.
  • The Credit Information Centre of the People’s Bank of China (PBOC)

Other financial institutions on the list encompass banks, securities companies, mutual funds, futures companies and insurers, including Minsheng Securities, Huaxin Securities, Haitong Securities, Sinolink Securities, Huatai Securities, Tebon Securities and Donghai Securities.

Shanghai Rural Commercial Bank (SRCB) recently became the first financial institution in the city to resume some external operations following the start of lockdowns, at its Zhujing branch in the Jinshan district of Shanghai.