The article explores how introducing non-central clearing in financial markets may not always reduce systemic risk. By analyzing data from Chinese banks in 2017, the researchers found that under certain conditions, non-central clearing can lead to lower systemic risk and fewer bank defaults. However, in extreme situations with low central clearing rates, systemic risk and bank defaults can actually increase. Increasing central clearing rates can help reduce systemic risk. The structure of the financial market networks also plays a role, with higher network density decreasing systemic risk. Large risk exposures can significantly increase systemic risk and bank defaults.