The China
Securities Regulatory Commission has started advancing the use of blockchain technology
for regional equity markets, enhancing supervision and innovation.
The Commission
drives the digital shift and plans business smart contracts and comprehensive
digital profile, enhancing innovative on-chain applications and reinforcing
market interconnectivity.
It can be
recalled that in 2020, China proposed the creation of a blockchain-based
over-the-counter market registration system and transaction reporting library,
subsequently initiating a pilot project for blockchain implementation.
“Yiqirong”
unified data terminal for regional equity markets was unveiled at a Digital
Empowerment Regional Equity Market Innovation and Development event held on
August 8, 2023.
“Yiqirong,”
which was constructed collaboratively by the Shenzhen Stock Exchange, industry
bodies, and 35 regional equity markets, collects corporate data, offers
credible data services to market participants, and enhances investment
efficiency.
Looking
ahead, “Yiqirong” aims to expand nationwide, forge stronger partnerships with
regional equity markets and third-party service agencies, and further boost its
data and service ecosystem.
The Deputy
Director of the Market II Department at the China Securities Regulatory
Commission, Wu Qichao, underscored the marvelous advancements achieved in
blockchain implementation within regional equity markets.
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