There have been two pieces of Chinese blockchain related news for stock exchanges in the last two days. Firstly, China’s main market, the Shanghai Stock Exchange, unveiled a blockchain pilot. And the blockchain custody system for the Beijing Regional Equity Market, the so-called 4th board, was launched. Its blockchain solution is for online stock registration and transfer for unlisted securities, as previously reported.
The Shanghai Stock Exchange received the China Securities Regulatory Commission’s (CSRC) approval. And a big part of its role involves integrating with the supervisory systems, which in the case of CSRC, also leverage blockchain, reports Shanghai Securities News. The hope is it will solve the time-consuming business processes, presumably reconciliations, and reduce costs. It will help to improve transparency and there are plans to reform the credit management systems for the capital markets.
In terms of progress, the pilot is reasonably advanced. It has all the data for enterprises, intermediaries and investors on-chain. The current use cases include listings, custody, transactions, capital management and disclosures.
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