Shanghai Unveils Plan for Capital Market Fintech Innovation Trials

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China’s securities regulator has unveiled plans for capital market fintech innovation trials in the financial hub of Shanghai.

The Shanghai branch of the China Securities Regulatory Commission (CSRC) recently issued a notice on “special work in relation to capital market fintech innovation trials,” according to reports from state-owned media on 8 December.

The notice outlines a total of 26 capital market fintech innovation projects on the shortlist for inclusion in the Shanghai trial, including:

  • A project for the innovative application of the digital renminbi in the securities sector proposed by Guotai Jun’an Securities.
  • A project for innovative trial application of the digital renminbi proposed by Orient Securities.
  • A project for innovative application of the digital renminbi based on a fund payments system proposed by China Universal.

In October 2021, CSRC first announced that it would support Shanghai’s staging of capital market fintech innovation trials, for the purpose of “driving the steady development of fintech in the securities and futures sectors, expediting the digital transformation of capital markets, and improving mechanisms for regulation of capital market fintech.”