Brief Introduction of CCDC and Its Shanghai Branch
China Central Depository & Clearing Co., Ltd. (CCDC), established in 1996 and headquartered in Beijing, is a wholly state-owned central institution. It provides registration, custody and settlement services under the approval and funding of the State Council and has a registered capital of RMB 5 billion.
CCDC initially began as a centralized depository for government bonds and has since evolved into a central institution that provides registration, custody, and clearing services for various financial assets. In line with China’s development requirements and market demands, CCDC has pursued a development strategy focused on “Diversification, Conglomeration, and Internationalization.” The company has dedicated efforts to building a core financial infrastructure platform and brand that s with the needs of financial market management. In July 2015, CCDC established its first branch in the Shanghai Pilot Free Trade Zone. Subsequently, in December 2017, CCDC established its Shanghai headquarters to oversee and manage all its operations in Shanghai. The Shanghai headquarters aims to build five major functional platforms, namely the RMB bond cross-border issuance center, RMB bond cross-border settlement center, ChinaBond collateral business center, ChinaBond pricing center, and Shanghai data center. These platforms contribute to the development of Shanghai as an international financial center. In 2018, the Shanghai headquarters of CCDC facilitated the issuance of various bonds with a total amount of RMB 614.55 billion. This included 99 issues of local government bonds, raising RMB 482.775 billion for financing purposes, 66 issues of corporate bonds with a financing amount of RMB 61.22 billion, 12 issues of asset-backed securities with a financing amount of RMB 64.55 billion, and two issues of financial bonds with a financing amount of RMB 6 billion.
I. CCDC provides comprehensive and integrated services throughout the entire bond lifecycle. These services include bond issuance, registration and custody, transaction settlement, interest payment, and information disclosure.
II. CCDC offers a range of ChinaBond information products including ChinaBond Valuation, ChinaBond Yield Curve, ChinaBond Index, and ChinaBond VaR. It also provides bond collateral management services which are widely used in monetary and fiscal policies, as well as derivatives and repo trading, foreign exchange management, and social security fund management.
III. CCDC conducts technical evaluations of corporate bonds, facilitates international business operations such as cross-border issuance, settlement, and collateral management, and provides registration and custody services for a wide range of financial assets. These assets include bank credit assets, bank wealth management products, and trust products.