Zheshang Commercial Bank Explains Why Issuing Assets Using New Technology and Who Will Help It

Chinese commercial bank Zheshang issued blockchain-based securities backed by other financial assets (ABCP). The issue amounted to $ 16.9 billion. This is the first such case in China, ChinaBankingNews reports .

The issue of securities took place as part of a pilot program conducted by the National Association of Institutional Investors in the Financial Market (NAFMII). In total, the organization provides for five similar projects.

NAFMII explained that this way of issuing assets simplifies the process of raising capital for small and medium-sized enterprises that have difficulty financing through direct issuance of bonds. The maturity of the instrument is 6 months, the possibility of extension is provided.


Zheshang in 2019 went to the list of the largest public companies in the world Forbes Global 2000, taking 493 place. The company transferred to the blockchain its platform for financing receivables, it can be used by almost 4000 corporate clients of the bank.

In late April, it became known that more than 70 companies providing financial services in China are introducing blockchain-based applications. These included the largest technology companies and each of the four state-owned banks.