GLEIF Opens China Representative Office to Drive Digital Organizational IdentityAcross the Region

The Global Legal Entity Identifier Foundation (GLEIF), headquartered in Switzerland, today announces that it has officially established a representative office in China within the Shanghai Lin-gang Special Area. This strategic expansion aims to support growing demand for the Legal Entity Identifier (LEI) and the verifiable LEI (vLEI) across the region.

China is a key jurisdiction within the Global LEI System, with increasing adoption and

application of both the LEI and the vLEI reflecting its position as a leading hub in Asia

for the development and deployment of digital organizational identity solutions.

This expansion builds on strong and sustained regulatory support. In December 2020,

the People's Bank of China published a roadmap for LEI adoption to enhance global

transparency and trust, which saw the integration of the LEI in payment systems and

digital certificates. There is now growing momentum for the LEI and the vLEI in China to

promote economic inclusion and growth by streamlining cross-border finance and

enabling the digitalization of global trade.

The new office's strategic location within the Shanghai Lin-gang Special Area directly

reflects dedicated initiatives to bolster the local application of the LEI. This follows the

introduction of a comprehensive package of 50 measures encouraging companies in the

Lin-gang Special Area to use the LEI for cross-border verification and key trade

documents, such as electronic bills of lading, warehouse receipts, and invoices.

The China (Shanghai) Pilot Free Trade Zone Lin-gang Special Area Administration has

also announced that it will subsidize the costs associated with LEI issuance for all

companies operating within the area through the end of 2028. This strategic initiative is

expected to further enhance the efficiency of entity identification and promote

seamless compliance with international standards in cross-border trade.

Alexandre Kech, CEO, GLEIF, comments: "China is at the forefront in demonstrating the

important role that trusted, digital organizational identity can play in breaking down the

trust and transparency barriers that inhibit global trade flows. This presents a powerful

opportunity to leverage the scale and dynamism of the Chinese economy to accelerate

LEI and vLEI uptake – opening up new markets and opportunities for all businesses of

any size, wherever they are in the world."Yisong Lin, Director of Division of Yangshan Special Free Trade & Transportation Zone,

China (Shanghai) Pilot Free Trade Zone Lin-gang Special Area Administration,

comments: "The Lin-gang Special Area is actively driving the digital transformation of

shipping and trade. With GLEIF establishing a representative office in the Yangshan Free

Trade Zone, we will work together to explore the use of verifiable identities and cross-

border interoperability, providing strong support for the broader application of

electronic bills of lading."

The establishment of the new office, headed by Yanzhao Zhang as the appointed

representative, will play a pivotal role in supporting the continued advancement and

expansion of the LEI and vLEI issuance infrastructure across Greater China. This includes

a local LEI issuer and several Validation Agents, with strong momentum for the vLEI

reflected by a growing network of Qualified vLEI Issuers and an expanding client base in

the region. The office will also foster increased engagement and collaboration with key

financial authorities and market infrastructures while supporting broader ecosystem

initiatives.

Opening an office in China further increases GLEIF's presence across Asia-Pacific,

following openings in Mumbai in 2024, Singapore in 2023, and the Chiyoda Ward of Tokyo

in 2021. GLEIF now has a network of seven offices worldwide to ensure strong local

representation in key countries globally.