China Securities Depository and Clearing Corporation is an enterprise which is authorized by the Peoples Bank of China to provide securities registration, settlement and depository services. It carries out the settlement operations of various securities trading activities of national securities exchanges, securities companies and other investors, provides cash and stock delivery payment services, provides depository services for many bonds and stocks, issues certificates and provides services for market participants.
The company was established in 1999 when the People’s Bank of China, the four largest state-owned banks and the China Securities Regulatory Commission discussed and formed theChina Securities Depository and Clearing Company. In 2006, China Securities Regulatory Commission announced that it would reorganize China Securities Depository and Clearing Corporation and make it the legal institution of the securities clearance and settlement system. In the same year, the restructuring was completed.
The mission of China Securities Depository and Clearing Corporation is “innovation, development, service non-stop” with the vision to become a highly reliable and well-equipped securities registration, settlement and depository service provider in China for customers. The company runs its business following the corporate rules and regulations, adopting the goal of protecting investors rights, integrity and completeness of security assets and development of capital market. Especially for the settlement service, China Securities Depository and Clearing Corporation offered the national electronic securities settlement system with T+0 settlement mode, on the basis of which settlement cycle of many types of securities have greatly improved, providing convenience to investors and shortening the financing cycle of capital.
The main business of China Securities Depository and Clearing Corporation is to ensure truth, timeliness and accuracy of securities trading data, provide a safe, efficient and reliable securities registration, settlement and depository services as well as provide a similar information platform to all market participants. In addition, the company issued real-name account deposit technology to avoid multi-open accounts, developed central depository online clearing and settlement system to ensure timeliness and accuracy of settlement data, and continuously promoted settlement safety, refined settlement service and improved settlement system.
Moreover, China Securities Depository and Clearing Corporation is actively exploring new forms of development, introducing and introducing high-tech products and services. It provides supervision, planning and guidance services for national and local safe storage, strengthens the security of storage, strengthens IT information technology and introduces modern science, such as network control, biometric technology, RFID technology, and electronic certificates.
The long-term development of China Securities Depository and Clearing Corporation is always on the top of the list, so safety and rationality in the business activities of the company at all times needs to be maintained to complete the task. The legal compliance of the business activities is also guaranteed by the business rules, regulations and rules issued by the company. The company will continue to strengthen and improve information sharing, to make every effort to expand customers and to develop new business areas.
