Bank of China uses blockchain to issue special Bonds for SMEs

On December 3, the Bank of China completed the issuance and pricing of the first phase of 20 billion yuan of special financial bonds for loans of small-and-micro enterprises (SMEs) in 2019, raising funds specifically for offerings of loans for SMEs to support the development of the real economy.

On December 3, the Bank of China completed the issuance and pricing of the first phase of 20 billion yuan of special financial bonds for loans of small-and-micro enterprises (SMEs) in 2019, raising funds specifically for offerings of loans for SMEs to support the development of the real economy.

It is worth noting that in this issuance, the Bank of China simultaneously used the an independently-developed blockchain bond issuance system, which is also the first domestic bond issuance bookkeeping system based on blockchain technology.

It is said that issuers, underwriters and investors have participated in the use of the system, for online operation of bond issuance preparation, bookkeeping and filing, pricing and placing. The system takes the blockchain network as the underlying platform to support the interaction and storage of key information and documents in the process of bond issuance.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/05/bank-of-china-uses-blockchain-to-issue-special-bonds-for-smes/.

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