SSE recently announced that to reflect the performance of the blockchain sector among listed shares in Shenzhen, as well as to diversify index-based investment tools, it had developed the SSE Blockchain 50 Index for its launch on December 24, 2019.
The SSE Blockchain 50 index is comprised of listed companies in the Shenzhen Stock Exchange involved in all stages of the blockchain sector, taking the top 50 companies in terms of average daily market capitalization over the past six months.
The index adopts the free float market capitalization weighting, and the sample shares will be adjusted on the trading day immediately after the second Friday of June and December of each year.
In March 2018, SSE had suspended the trade of the manufacturer of health devices Lifesense while conducting research on the company and its claims about the blockchain deployment. An announcement by the company about the launch of a “blockchain laboratory” had caused the price of its shares to skyrocket by 10%, reaching the daily limit of the SSE.
SSE is one of two stock exchanges that operate independently in mainland China. According to the TradingHours stock market website, the market capitalization of the SSE is $ 3.12 billion, which makes it the fourth largest in Asia and the eighth largest in the world.
Recently, Shenzhen requested the strengthening of Blockchain research
The Shenzhen municipal government requested the strengthening of research on blockchain and other key emerging technologies.
A meeting of the Standing Committee of the Shenzhen Municipality held on November 19 called for “strengthening fundamental research in the blockchain”, as well as “accelerating the in-depth integration of the blockchain with cutting-edge technologies such as artificial intelligence , big data and the Internet of things. ”
The municipal government pointed out the need to “actively promote the integrated development of the blockchain and the economy and society; boost concentrated innovation, strengthen application demonstrations and revitalize the real economy. ”
Shenzhen has become a key center for China's financial technology sector, with Tencent teaming up with local authorities to launch the first blockchain-based electronic billing system a year ago, and the Chinese central bank subsequently launched a platform for commercial financing promoted by blockchain in the city.
The 50 main actions related to blockchain are classified according to their average daily market value in the last six months. The index is updated twice a year: the second Friday of June and December.
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