On August 13, 2026, Shanghai Clearing House (SHCH) supported China Development Bank (CDB) in completing Delivery Versus Payment (DVP) settlement for its first market making sell-out operation, involving 3-year CDB-SHCH bonds with a size of RMB 300 million. Participating institutions included Industrial and Commercial Bank of China, Industrial Bank Co., Ltd., Hengfeng Bank, Bank of Nanjing and Bank of Hangzhou. It marks CDB’s inaugural market making support operation targeting CDB-SHCH bonds. It enhances market makers’ position management capacity for CDB bonds, improves bond market liquidity, helps refine the CDB bond yield curve, and effectively boosts primary-secondary market linkage.
In recent years, SHCH and CDB have continuously deepened strategic cooperation on CDB-SHCH bond issuances. Both sides have collaborated extensively on business innovations including green bonds, floating rate bonds and standard bond forwards, as well as system connection and issuance mechanism optimization. In June this year, CDB launched regular issuances of 10-year CDB-SHCH bonds, steadily raising brand visibility and market influence of CDB-SHCH products. The latest market making support operation for CDB-SHCH bonds represents another key initiative by both parties to further build the CDB-SHCH brand and deepen bond market trading depth.
Going forward, SHCH will faithfully fulfil its mandate as a financial market infrastructure. Working together with all market participants, SHCH will improve the quality and efficiency of financial services for the real economy, advance high quality development of the financial market, and contribute to a sound start for the 15th Five-Year Plan.
