Fujian's clearing house launched a new centralized online clearing system on Nov 28 to offer a more secure and convenient service to financial institutions in the region, Fujian Daily reported.

A carbon emission rights trading system operated by Haixia Equity Exchange has already been connected to the new online clearing system.

Industrial Bank's centralized funds transfer system, which facilitates transactions between the bank and different exchanges, has also been successfully linked up to the clearing house's new system.

The successful launch of the new system is a major step forward for Fujian's clearing house, which was launched in August. The center in the provincial capital Fuzhou offers financial institutions unified quality clearing services, data collection and extensive financial services.

The clearing house has also concluded deals with several more exchanges and banks to allow them to access the system. These institutions will be linked up with the system once they have completed the relevant system renovations.

Once the system renovations for all the partner exchanges and banks are complete, the clearing house will be responsible for the settlement of a wide array of trading activities, including equity, commodities, cultural assets, and artworks.