The differences are as follows: Shanghai Clearing House, the full name of which is Shanghai Clearing House Co., Ltd., is a clearing institution directly under the Central Bank of China, which is mainly responsible for the clearing and settlement of financial assets such as bonds, credit asset-backed securities and asset-backed securities.
China Bond Issuance Bureau, the full name of China Government Securities Depository and Clearing Co., Ltd., is a bond registration, custody and settlement institution directly under the Central Bank of China, which is mainly responsible for the registration, custody and settlement of bonds.