SHANGHAI, Dec. 8 (Xinhua) -- Shanghai Clearing House and Brussels-based Euroclear Bank on Tuesday jointly launched the Yulan Bond business, which is named after Shanghai's city flower, a magnolia, and aimed at linking Chinese issuers with global investors.

The bonds will be issued through the Shanghai Clearing House, a Chinese interbank bond market clearing house. The two clearing houses are interconnected to provide registration, custody, and settlement services for Chinese issuers and overseas investors of the bonds.

Data shows that in 2019, a total of 690 bonds were issued by Chinese institutions overseas, with an issuance scale of about 217.8 billion U.S. dollars, representing a year-on-year increase of 33.29 percent.

Compared with the traditional overseas bond issuance, Yulan bonds are issued with electronic bond registrations and are more convenient in terms of capital security and information acquisition.

The Shanghai Clearing House is one of the three largest bond registration, depository, and settlement institutions in China. Euroclear Bank, under the Euroclear Group, connects nearly 50 international markets.