Two more regional equity exchanges in the Chinese cities of Tianjin and Qingdao have been approved by the China Securities Regulatory Commission this week to pilot blockchain applications over equity trading.
- The regional equity exchanges are private equity markets in provincial or municipal administrative regions for medium to micro enterprises to trade equity.
- In 2020, five cities — Beijing, Shanghai, Jiangsu, Zhejiang, and Shenzhen — started to pilot blockchain technology in regional equity exchanges.
- Chinese financial markets have started to adopt blockchain. On Monday, the Beijing Securities Regulatory Bureau announced 16 fintech pilot projects exploring regulatory frameworks and tools for fintech, and four are blockchain-related.