Established in 1996 and headquartered atNo. 10, Financial Street, Xicheng District, Beijing, China National Debt Depository and Clearing Co., Ltd. is the only institution authorized by the Ministry of Finance to preside over the establishment and operation of the national debt custody system. It is also the national inter-bank bond market bond registration, custody and settlement institution designated by the People's Bank of China and the first-class custodian of book-entry treasury bond transactions of commercial banks.
China Government Securities Depository and Clearing Co., Ltd. is a wholly state-owned financial institution that provides services such as registration, custody and transaction settlement of fixed-income securities such as government bonds, financial bonds and corporate bonds for the national bond market.
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Background of the establishment of China National Debt Registration and Clearing Co., Ltd.
In the early 1990s, China's bond market entered an early stage of development dominated by the national debt market. However, due to the lag of market infrastructure construction and the lack of centralized custody and unified settlement mechanism for bonds, there have been problems such as fraudulent use of state credit, ineffective protection of investors' legitimate rights and interests, high market operating costs, and increased financial risks, which have hindered the healthy development of the national debt market.
In order to rectify the order of the national debt market, ensure the safe, efficient and low-cost operation of the market, and promote the healthy development of the bond market, the People's Bank of China and the Ministry of Finance reached an agreement through consultation and submitted it to the State Council for approval. On the basis of the original China Stock Exchange System Co., Ltd., they reorganized and established the Central Government Debt Registration and Settlement Co., Ltd. (hereinafter referred to as the Central Clearing Company) to undertake the functions of unified registration, custody and settlement of national debt and other domestic bonds.
The Central Clearing Company is a national non-bank financial institution. It was registered in the State Administration for Industry and Commerce in February, 1996, with a registered capital of 5 billion yuan.
References:
China government bonds registration and settlement co., ltd Baidu encyclopedia.