The China Securities Regulatory Commission (CSRC) has reportedly put out an approval letter, enabling 5 regional equity markets to carry out testing with blockchain in the equity trading sector.
Specifically, the next initiative to be conducted by the CSRC is to provide guidance for Beijing Equity Trading Center to finalize the blockchain pilot.
The Beijing-located trading facility has reportedly come up with a “relatively perfect infrastructure” for equity registration, custody, and transaction transfer. The administration reportedly claimed that they have been the pioneering force regarding online equity registration custody and equity change of enterprises across China.
As of June 30, 2020, Beijing’s Equity Trading Center has reportedly provided services to over 1000 unlisted joint-stock firms throughout the city. They have reportedly been tasked 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 reportedly exceeds the 21 billion yuan benchmark (around $3 million).
Beijing Equity Trading Center – along with Shenzhen Stock Exchange and other regional equity market operators, reportedly rolled out a regional equity market intermediary credit reference blockchain in late 2017.