SHANGHAI — China Central Depository & Clearing (CCDC), which serves the national financial market by providing central registration, depository and settlement services, opened a new headquarters in Shanghai Monday.

Five of CCDC's core services - the cross-border renminbi bond issuance center, the cross-border renminbi bond settlement center, CCDC Collateral Management Service Center, ChinaBond Pricing Center, and the Shanghai Data Service Center - have been connected to the Shanghai headquarters to support making the city an international financial hub.

Together with the Beijing headquarters, the Shanghai head office will issue bonds to global investors, strengthen the connection between onshore and offshore markets, and serve the Belt and Road Initiative.

On Monday, the CCDC Collateral Management Service Center was also set up; and ChinaBond Pricing Center, a CCDC subsidiary, released the Shanghai Key Yield (SKY) curve.

SKY is derived from the ChinaBond Government Bond Yield Curve, and will have bond with maturities of 3 months, 1 year, 3 years, 5 years, 7 years and 10 years. It will be updated by the center each trading day in the interbank market.

As of 2016, the total value of financial assets under the depository of the CCDC had reached 91.9 trillion yuan ($13.9 trillion), up 19 trillion yuan year-on-year.