With the approval of China Securities Regulatory Commission, China Securities Depository and Clearing Co., Ltd. (hereinafter referred to as China Clearing Co., Ltd.) was established as a non-profit enterprise legal person on March 30th, 20001year according to the provisions of People's Republic of China (PRC) Company Law (hereinafter referred to as the Company Law) and People's Republic of China (PRC) Securities Law (hereinafter referred to as the Securities Law). Shanghai Stock Exchange and Shenzhen Stock Exchange hold 50% shares of the company respectively. From 200 1, 1 and1,all the securities registration and settlement businesses undertaken by the Shanghai and Shenzhen Stock Exchanges were placed under the responsibility of China Clearing, forming a centralized and unified securities registration and settlement system in China as stipulated in the Securities Law.
According to the Securities Law, the Measures for the Administration of Securities Registration and Settlement promulgated and implemented by the CSRC and the Articles of Association, the functions of the company include: the establishment and management of securities accounts and settlement accounts; Depository and transfer of securities; Register of securities holders and registration of rights and interests; Clearing, delivery and related management of securities and funds; Distributing securities rights and interests entrusted by the issuer; Providing inquiry, information, consultation and training services related to securities registration and settlement business according to law; Other businesses approved by China Securities Regulatory Commission.
At present, the company's business covers the following places:
(1) Providing registration, clearing and settlement services for all listed or listed securities of Shanghai and Shenzhen Stock Exchanges and the National Small and Medium-sized Enterprise Share Transfer System Company;
(2) Providing clearing and settlement services for financial derivatives such as stock options listed on the Shanghai and Shenzhen stock exchanges;
(3) Providing registration, depository, clearing and settlement services for cross-border securities transactions such as Shanghai-Hong Kong Stock Connect;
(4) Providing registration, clearing, settlement and custody services for open-end fund products, asset management products of securities companies and mutual recognition products of land and port funds issued in the Mainland;
(5) Providing registration and settlement services for the refinancing business of China Securities Finance Company;
(6) Providing physical delivery services for treasury bonds futures listed on China Financial Futures Exchange;
(7) Providing centralized registration and depository services for unlisted public companies;
(8) Providing centralized registration and depository services for non-overseas listed shares of overseas listed companies (mainly in Hong Kong);
(9) Providing transfer custody (transfer registration) services for bond circulation in the stock exchange market and the inter-bank market.
The main services provided by the Company to the participants in the registration and settlement system include:
(1) Providing services such as stock holding roster, distribution of securities rights and interests, online voting of corporate behavior, equity incentive and employee stock ownership plan for listed companies and other securities issuers.
(2) setting up securities accounts for securities holders through the electronic securities bookkeeping system, and providing post-transaction registration, depository services and securities settlement services.
(3) setting up secured and unsecured fund settlement accounts for settlement participants, and providing settlement and delivery services for securities and financial derivatives transactions. As a central counterparty (CCP), the Company provides multilateral net guarantee settlement services for securities traded centrally on the floor. Provide bilateral full amount, bilateral net amount, real-time full amount (RTGS) and fund collection and payment services for securities that are not centrally traded on the exchange.
(4) Providing fund asset custody services for Public Offering of Fund and issuers of private equity funds.