The Beijing Securities Regulatory Bureau released a list of a first batch of 16 fintech pilot projects. Among the listed projects, four are based on blockchain and one uses e-CNY, the central bank digital currency. The projects are for exploring regulatory frameworks and tools for fintech.
- The e-CNY-based fintech project will allow users to purchase financial services and invest in over-the-counter products with the digital yuan. The project is jointly initiated by a brokerage firm, Chinese Galaxy Securities, and the Industrial and Commercial Bank, one of the banks that exchange digital yuan to the public.
- There are four blockchain-based projects. One is an inter-firm data-sharing platform for brokerages to manage risk by accessing the client’s trading histories with other firms. The China Securities Industry Association initiated the project.
- Another is a blockchain-based information collecting system initiated by brokerage firm China Securities. The system collects users’ behavior on software such as page-viewing, for securities companies to push online information of rule notifications and risk alert.
- The third is a blockchain platform for securities trading electronic contracts and certifications, which provides online authentication and signing services for bonds and derivatives contracts. It is initiated by the China Securities Internet System Co. Ltd, a trading platform for private equity and over-the-counter products for institutions.
- The last one is a blockchain platform for private equity funds, for recording and regulating the contracts of private equity fund shares trading. It is initiated by Beijing Equity Trading Center, one of China’s regional equity exchanges.
- The list pilot project started screening in March, and 16 of the 51 projects were selected.