Beijing Financial Assets Exchange to Become a Bond Market Powerhouse

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The Beijing Financial Assets Exchange was founded in 2010.

The Beijing Financial Assets Exchange announced Wednesday that it will leave the local financial assets exchange business by August 30, turning into a bond trading exchange and positioning itself as financial infrastructure.

The move follows the central government’s decision in late 2023 to close down local financial asset exchanges in a crackdown on financial risks and illegal fundraising.

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The Beijing Financial Assets Exchange will transition to a bond trading exchange by August 30, as part of a central government crackdown on financial risks.
Of 28 local financial asset exchanges, only Beijing's will be restructured; 16 have been closed down so far.
Initially founded in 2010, the Beijing exchange will now focus on interbank bond issuance, distribution, and related innovative services.

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Who’s Who

Beijing Financial Assets Exchange: The Beijing Financial Assets Exchange will exit the local financial assets exchange business by August 30 to become a bond trading exchange, repositioning as financial infrastructure. This follows the central government's crackdown on financial risks and illegal fundraising. While other local exchanges are being closed, Beijing's exchange will transfer its state-owned assets business to the Beijing Equity Exchange, focus on bond trading, and support innovative services like debt-to-equity conversions and defaulted bond transfers.

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What Happened When

2010：: China created its first local financial asset exchanges in Tianjin and Beijing.

2013：: The National Association of Financial Market Institutional Investors, the regulator for the interbank bond market, became the largest shareholder of the Beijing Financial Assets Exchange.

2020：: The number of local financial asset exchanges peaked at 74.

late 2023：: The central government decided to close down local financial asset exchanges in a crackdown on financial risks and illegal fundraising.

By August 30, 2024：: The Beijing Financial Assets Exchange will leave the local financial assets exchange business and turn into a bond trading exchange.