Credit Asset Exchange Service

China Credit Assets Registration & Exchange Co. Ltd. (“CCRE”) was formally incorporated in June 2014. As a key financial infrastructure in the banking industry of China, CCRE engages in the following activities: registration, depository, exchange and settlement of credit assets and other financial assets of banks, agency services of principal redemption & interest payment, and transaction management and market monitoring services; financial information service and related consulting and technical services; and other business approved by the CBIRC.

In response to the State Council’s requirements of “revitalizing outstanding monetary credits and supporting the transformation and upgrade of the real economy”, CCRE explores ways to increase the efficiency of fund use and reduce social financing costs, and caters to the demand of strengthening financial infrastructure construction, improving the financial market system, building a regulated, transparent credit asset exchange market and promoting the transformation and upgrade of commercial banks’ business models.

Credit Asset Central Registration

CCRE provides market participants with credit asset central registration service. It records the elements of assets to be exchanged and their corresponding underlying assets in a standard format, assigns the sole identity code to the credit assets, and records the exchange results.

Credit Asset Exchange

CCRE sticks to the efforts to enhance transparency and standardization of the credit asset exchange market. At present, CCRE engages in the credit asset exchange business in three forms, i.e. direct transfer of creditor’s rights, transfer of trust beneficiary rights corresponding to credit assets and transfer of credit asset beneficiary rights. The business can be carried out through agreement transfer and listing transfer.

In addition to viable credit assets, CCRE also deals with the transfer of non-performing credit asset beneficiary rights. This business promotes the orderly mitigation of bank risks out of the financial system, guides banking institutions to dispose of non-performing assets under a prudent institutional framework, and opens up new ways of non-performing asset exchange and disposal for banking institutions.

Miscellaneous Services

- Depository service. CCRE provides depository services and whole-life-cycle management for the assets in exchange, and renders services such as change to registry, holder inquiry and interest payment & principal redemption agency for the related parties.

- Statistics and monitoring. CCRE provides statistical and analysis reports on credit asset registration and exchange business to relevant parties and for the purpose of assisting financial supervision.

- Credit valuation service. CCRE publishes the credit valuation on a pilot basis, which aims to strengthen the risk disclosure of credit assets in exchange, and promotes the construction of a fair pricing system for the credit asset exchange market.

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