China Central Depository & Clearing (CCDC) opened a new headquarters in Shanghai Monday.

 

中央结算公司周一在上海开设分公司。

 

Five of CCDC's core services -- the cross-border RMB bond issuance center, the cross-border RMB bond settlement center, CCDC Collateral¹ Management Service Center, ChinaBond Pricing Center, and the Shanghai Data Service Center -- have been connected to the Shanghai headquarters to support making the city an international financial hub.

 

Together with the Beijing headquarters, the Shanghai head office will issue bonds to global investors², strengthen the connection between onshore and offshore³ markets, and serve the Belt and Road Initiative.

 

On Monday, the CCDC Collateral Management Service Center was also set up; and ChinaBond Pricing Center, a CCDC subsidiary, released the Shanghai Key Yield (SKY) curve.

SKY is derived⁴ from the ChinaBond Government Bond Yield Curve, and will have bond with maturities⁵ of 3 months, 1 year, 3 years, 5 years, 7 years and 10 years. It will be updated by the center each trading day in the interbank market.

 

As of 2016, the total value of financial assets under the depository of the CCDC had reached 91.9 trillion yuan (13.9 trillion U.S. dollars), up 19 trillion yuan year on year. 

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