shanghai clearing house ("shch"), established on november 28, 2009, is a landmark achievement of china's response to the international financial crisis in 2008, the fulfillment of reform commitments of the g20 pittsburgh summit, and the construction of shanghai as an international financial center. as a systemically important financial infrastructure directly managed by the people's bank of china, shch is the qualifying central conterparty of china's interbank market and the only csd headquartered in shanghai.
based on regulatory expectations, market needs, and our own strengths, shch has established the condensed "1234" development strategy: anchor the core goal of "building an independent, controllable, safe, and efficient financial infrastructure", adhere to the financial positioning of "serving the central bank's duties and serving the shanghai international financial center", adhere to directions of "internationalization, specialization, digitalization", and "more actively integrate into the world, more widely connect internal and external, more comprehensively improve service level, more controllably manage risks".
with continuous efforts, shch has initially established six major platforms: firstly, the world's largest otc fx central clearing platform; secondly, a globally leading platform for rmb asset allocation and risk management; thirdly, an important bond issuance and custody platform in china; fourthly, a multi-level bulk commodity clearing platform that precisely serves the real economy; fifthly, a broad cross-border connectivity platform; and sixthly, a distinctive international financial interaction platform.
positioned as a financial infrastructure, shch has established three long-term goals based on thorough research and investigation: to become the primary central securities depsitory for overseas rmb bond assets, the leading central counterparty for overseas rmb financial product transactions, the main central clearing institution for china’s otc commodity transactions.
