Shenzhen Stock Exchange Launches Index of Top 50 Blockchain Public Companies

The Shenzhen Inventory Trade has launched a blockchain index comprising 50 of the most important publicly listed corporations with blockchain ventures by market capitalization. Blockchain-related shares in China have been gaining worth since President Xi Jinping brazenly advocated for the know-how.

Also read: Regulatory Roundup — New US Crypto Bill, France’s 1st Approved ICO, Muslim Crypto

Blockchain Index Launch

China’s Shenzhen Inventory Change (SZSE) introduced Tuesday the launch of its blockchain index referred to as the SZSE Blockchain 50 Index, or Blockchain 50 for short. It seeks to track the performance of the top 50 SZSE-listed corporations with blockchain tasks, sorted by average market capitalization over the past six months. On Dec. 24, its first day of buying and selling, the index closed at three,155.03 yuan ($450), up 1.15%.

The Shenzhen Stock Change is among the two inventory exchanges operating independently in mainland China. Established on Dec. 1, 1990, the change is beneath the supervision of China Securities Regulatory Fee. As of Dec. 25, it has 2,203 listed corporations and 9,262 listed securities. The other stock change in China is the bigger Shanghai Stock Trade.

Index Constituents

The Blockchain 50 Index at present includes shares of blockchain-related public corporations throughout 10 sectors. In line with the listing of constituent stocks offered by the change, the sectors represented within the index are IT, manufacturing, finance, utilities, development, wholesale and retail, transportation, business help, analysis and improvement, and media. The IT sector has 27 stocks within the index, adopted by manufacturing with 14 corporations, and finance with two corporations. The remaining sectors have one company each within the index. In accordance with the change, the constituents are adjusted twice a yr — in June and December.

An inventory displaying a few of the Blockchain 50 Index constituents offered by the Shenzhen Stock Trade.

A few of the largest corporations by market capitalization in the Blockchain 50 Index are Ping An Bank, Midea Group, East Cash Info, Suning, SF Holding, Leo Group, Shanghai 2345 Network Holding, Jiangsu Akcome Science, and DHC Software.

China’s blockchain-related stocks have had a lift this yr since President Xi Jinping openly advocated for blockchain know-how in October. In line with 8btc publication, eight out of the 50 shares within the Blockchain 50 index spiked more than 100% and 20 others climbed over 50% this yr. Among the many index constituents, one of the largest gainers is Shenzhen Genvict Tech, which has risen 275.33% this yr.

Whereas the Shenzhen Stock Trade and lots of of its listed corporations embrace blockchain know-how, the authorities in Shenzhen are reportedly pressuring crypto companies. They questioned eight of them final week, as information.Bitcoin.com reported.

What do you think of the Shenzhen Stock Change launching a blockchain index? Do you assume many more corporations will use blockchain know-how in their business? Tell us in the comments section under.

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Photographs courtesy of Shutterstock and Shenzhen Stock Trade.

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Bitcoin , blockchain index , BTC , China , chinese , crypto , crypto assets , Cryptocurrency , Digital Currency , Government , listed companies , Market Cap , midea group , ping an bank , public companies , shenzhen stock exchange , Virtual Currency

Kevin Helms

A scholar of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source techniques, community results and the intersection between economics and cryptography.

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