Shenzhen Stock Exchange Launches Blockchain-based Trading Platform for Unlisted Stocks
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The Shenzhen Stock Exchange is working on a blockchain-based trading platform for private companies that failed to be listed on the main exchange, China Daily has learned, citing sources familiar with the matter.

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The exchange claims the new platform is equipped with a strong business and technical team and is partnering with the Tongji Blockchain Research Institute to jointly promote docking and interaction with the China Securities Regulatory Commission.

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It is assumed that with the help of blockchain, new trading will be able to compensate for the lack of the traditional capital market and solve the excessive transaction costs of the business.

In June 2020, Chinese commercial bank, China Zheshang Bank, issued securities worth $16.9 billion on a blockchain network.

The issuance of securities was implemented as part of the pilot program of the National Association of Financial Market Institutional Investors (NAFMII). The NAFMII representative said that with the help of blockchain, companies have direct access to the markets, which greatly simplifies the attraction of financing.

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