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Beijing Financial Assets Exchange (BFAE) officially released credit asset trading regulations on Sept 20.
Since there are no precedents in China, the release of the BFAE credit asset trading regulations indicated that the credit asset trading market now has to abide by regulations for the first time.
Xiong Yan, chairman of the BFAE board, said that the research work into the full set of materials for the BFAE credit asset trading regulations began as early as the BFAE was being established. It took six months of independent research and development to complete.
BFAE collected various views and proposals and combined the actual situations of domestic credit asset trading and eventually formed a complete system of one plus nine. The contents of the regulations cover the entire process from trading application, listing, bargaining and bidding, closing, settlement and registration to asset management.