State Administration of Foreign Exchange, Circular on Revising the Control Policies Relevant to the Entry into the Interbank Foreign Exchange Market by Financial Institutions

国家外汇管理局关于调整金融机构进入银行间外汇市场有关管理政策的通知

December 18, 2014 | BY

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Non-bank financial institutions allowed in the interbank forex market.

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Issued: December 5 2014

Effective: January 1 2015


Main contents:
The main contents of the Circular include:

(1) promotion of the simplification of administration and delegation of authority to lower levels, abolishing prior entry permission for financial institutions wishing to enter the interbank foreign exchange market and further allowing the regulatory function of the market mechanism;

(2) improvement of market oversight, clarifying the basic trading rules for financial institutions