Shanghai Clearing House (SHCH) was founded on November 28, 2009 to implement the G20 commitment, address the impact of the global financial crisis, and promote the vision of growing Shanghai into an international financial center. As a national financial infrastructure under the People’s Bank of China(PBC), SHCH is the world’s second and Asia’s first central counterparty (CCP) clearing institution established in the post-crisis era, providing a full range of central clearing services for the interbank market. It is also one of China’s three institutions for bond registration and custody, offering a full-process services of bond issuance, registration, custody and settlement. In addition, SHCH is the only financial institution that won the 2020 Shanghai Mayor Quality Award and the 4th China Quality Award.

SHCH is simultaneously strengthening the two pillars of its business - clearing and custody. It has introduced and continuously expanded the CCP clearing mechanism in the interbank market with a sound risk management function, thus establishing a unified, sophisticated central clearing system to cover five product categories - bonds, interest rates, foreign exchange(FX), credit and commodities. Furthermore, SHCH has innovatively developed and consistently improved its bond-related services, providing one-stop solutions covering bid-based issuance, registration, custody, clearing and settlement for financial bonds, non-financial corporate bonds, money market instruments, and warrant-type credit derivatives. In 2022, SHCH achieved a clearing amount of RMB 552.6 trillion and bond issuance amount of RMB 31.3 trillion. By the end of 2022, the balance of bonds in custody stood at RMB 31.3 trillion.

SHCH is China’s first approved Qualifying Central Counterparty (QCCP) and the first to receive cross-border regulatory recognition from the Europe. It has also been highly recognized by international organizations such as the International Monetary Fund and the World Bank. SHCH has been actively engaged in global financial governance by successfully promoting the “Shanghai Clearing Standards”, a set of quantitative disclosure standards released by the Global Association of Central Counterparties (CCP12), to be adopted by international peers covering more than 95% of the global markets. Meanwhile, through global cooperation, SHCH innovatively launched a multitude of cross-border services, including Yulan Bond and Bond Connect, to serve the construction of Shanghai international financial center and the goal of two-way financial opening-up.