China Foreign Exchange Trade System(zhong guo wai hui jiao yi zhong xin )

China Foreign Exchange Trading Center

Established on February 15, 1994, China foreign exchange trading center is headquartered in Shanghai Zhangjiang High Tech Park, with Beijing Center in Beijing, data backup center and remote disaster recovery center in Shanghai Bund and Beijing. Its main functions are: to provide transaction, post transaction processing, information, benchmark, training and other services for the spot and derivative products in the inter-bank money market, bond market and foreign exchange market; to undertake the daily monitoring of market transactions; to provide services for the operation and transmission of the central bank's monetary policy; to issue the central rate of RMB exchange rate and Shanghai interbank exchange rate according to the authorization of the people's Bank of China Interbank offered rate (Shibor), loan base rate (LPR), RMB reference exchange rate, CFETS RMB exchange rate index, etc.; providing business-related information, inquiry, consultation and training services; other business approved by the people's Bank of China.

In November 2018, the preparations for the cooperation project between China foreign exchange trading center and Bloomberg company are basically ready, and the project of supporting foreign institutional investors to enter China's interbank bond market through the connection of trading platform will be officially launched.

Historical evolution

1993

On December 25, the State Council issued the notice on further reform of the foreign exchange management system (GF [1993] No. 89), which clearly proposed the establishment of an inter-bank foreign exchange market.

1994

On February 15, the people's Bank of China issued a document (YF [1994] No. 44) to inform the establishment of China foreign exchange trading center, with Xiao Gang as the person in charge of the trading center

On February 18, the State Administration of foreign exchange approved the articles of association of China foreign exchange trading center

March 1 China foreign exchange trading center system trial operation

On April 4, the system of China foreign exchange trading center was officially put into operation, forming a single, managed floating exchange rate based on market supply and demand, which was announced to the public by the people's Bank of China

On April 5, China foreign exchange trading center added Hong Kong dollar / RMB trading business in the interbank foreign exchange market

April 18 opening ceremony of China Foreign Exchange Trading Center

On December 2, the science and Technology Department of the people's Bank of China held the appraisal meeting of the electronic engineering of China's foreign exchange trading system. The appraisal showed that the system is reasonable in design, advanced in technology, complete in functions and reliable in operation. It is a system engineering with the leading level in China and won the second prize of national science and technology progress award

1995

On January 14, the trading rules of China Foreign Exchange Trading Center (Interim) were promulgated

On March 1, the trading center added yen / RMB trading in the interbank foreign exchange market

On July 3, Xiao Gang, the first president of the trading center, was transferred to the director of the capital Department of the people's Bank of China. Pang Jiying presided over the work of the trading center

On August 24, the administrative measures for remote foreign exchange transactions of China foreign exchange trading center was promulgated

On December 4, the "national interbank market preparatory meeting" was held in Shanghai. It is clear that from January 1, 1996, the interbank lending business of all financial institutions must be handled through the national unified interbank lending market network.

1996

On January 3, the national interbank lending market relied on the trading center system and generated the national unified interbank lending market interest rate (CHIBOR)

On December 2, the people's Bank of China promulgated the Interim Provisions on the administration of the inter bank foreign exchange market (YF [1996] No. 423)

1997

On January 27, the people's Bank of China issued the notice on the centralized management and related issues of the business of China Foreign Exchange Trading Center (YF [1997] No. 37), specifying that China foreign exchange trading center and the national interbank lending center have one set of institutions and two brands, which are bureau level institutions directly under the people's Bank of China

On June 5, the people's Bank of China issued the notice on issues related to inter-bank bond repurchase business (YF [1997] No. 242), decided to open inter-bank bond repurchase business in the national unified interbank market, and promulgated the Interim Provisions on inter-bank bond repurchase business

On June 13, the people's Bank of China issued the "notice on opening inter-bank treasury bond trading" (Yin Chuan [1997] No. 44), which clearly stated that the national interbank lending center will start treasury bond trading from June 16, 1997

1998

On March 23, the people's Bank of China agreed (Yinfa No. 114) to allow foreign banks in Pudong, Shanghai to enter the national interbank lending market

On March 24, the detailed rules for remote foreign exchange trading of China Foreign Exchange Trading Center (Provisional) was promulgated

On April 3, the people's Bank of China issued the notice on issues related to authorized branches of commercial banks to enter the national interbank market (Yin FA No. 137)

On July 13, the people's Bank of China appointed Pang Jiying (Yinren 52) as the president of China foreign exchange trading center

On October 12, the people's Bank of China issued a document (Yinfa No. 483) approving the insurance company (head office) to join the national interbank market and engage in the trading of bonds and bonds

On October 25, the people's Bank of China and the State Administration of foreign exchange issued the "notice on suspending the foreign exchange adjustment business" (yf507), bringing the foreign exchange adjustment business of foreign-invested enterprises into the system of bank settlement and sale of foreign exchange

On October 26, according to the opinions of the State Administration of foreign exchange on clearing up the members of the inter-bank foreign exchange market (huiguohan No. 6), China foreign exchange trading center suspended the trading of members of non bank financial institutions in the foreign exchange market

On November 3, the people's Bank of China approved the rules for the settlement of inter bank bond transactions (Trial) (Yinfu No. 376) and the rules for inter bank bond transactions (Trial) (Yinfu No. 377)

On November 16, Pang Jiying, the second president of China foreign exchange trading center, was transferred to the people's Bank of China, and Lin Yufan was appointed (Yinren [1998] No. 100) as the president of China foreign exchange trading center

On December 7, the trading center adjusted the minimum trading amount and minimum trading unit in the interbank foreign exchange market

On December 14, the people's Bank of China approved insurance companies to join the national interbank lending system

1999

On January 28, the people's Bank of China issued a document (yinhuozheng [1999] No. 15) approving some rural credit cooperatives to join the national interbank market

On April 7, the people's Bank of China issued a document (Yin Huo Zheng [1999] No. 52, 53) approving China Development Bank and Export Import Bank of China to join the national interbank market

On April 16, the 12th president's office meeting of the people's Bank of China clarified the development direction of the trading center as a market intermediary organization to gradually establish a national unified electronic trading system

On August 19, the people's Bank of China promulgated the regulations on the administration of fund management companies entering the interbank market and the regulations on the administration of securities companies entering the interbank market (YF [1999] No. 288)

On September 1, the "Interim Measures for site management" was formally implemented

On September 1, the National Interbank transaction information system was opened

September 9 trading center system successfully passed the sensitive day of September 9

On September 11, the trading center system successfully passed the computer 2000 problem joint test

On October 25, the trading center system successfully passed the computer 2000 project acceptance of the people's Bank of China

On November 19, the CPC Committee of the people's Bank of China approved the establishment of the Party committee of the trading center (yindangren No.16)

In December, the operation of the satellite information system was completely stopped

2000

On January 3, the Party group of the people's Bank of China approved the establishment of the trading center, and the Commission for Discipline Inspection (No. 19 of the Party group of the people's Bank of China)

On January 18, as the first rural credit union, Shenzhen Rural Credit Union joined the inter-bank foreign exchange market

On June 12, some functions of "China currency", a professional website of the trading center providing information services for local and foreign currency market transactions, were put into trial operation

On June 19, the people's Bank of China approved (Yinfa 194) finance company to enter the national interbank market and bond market

On July 24, the trading center launched a bond distribution quotation and inquiry system simultaneously on the interbank bond trading system and the "China currency" website

On December 18, the people's Bank of China issued the notice on issues related to the system of China Foreign Exchange Trading Center (YBF [2000] No. 349), which agreed that Beijing sub center should be merged into Shanghai general center and renamed as Beijing backup center. At the same time, it required that unified management of the system should be implemented as soon as possible

2001

On March 29, the people's Bank of China issued the notice on issues related to regulating and supporting the bilateral quotation business in the inter bank bond market (YF [2001] No.75)

On April 17, the State Administration of press and Publication (Xinchu Bao [2001] No. 337) approved the launch of China money market, which is sponsored by the exchange center and supervised by the people's Bank of China

On June 19, the people's Bank of China issued a document (Yin Fa [2001] No. 196) to cancel the 17 sub centers including Heilongjiang Branch of China foreign exchange trading center

Local currency voice intermediary business launched in July

On July 2, RMB interbank lending system and net price trading function of "China currency" website were officially opened

On August 6, the people's Bank of China approved the "three determinations" plan of the trading center

On September 20, the central organization establishment committee officially approved the establishment of public institutions for China Foreign Exchange Trading Center (cbfz [2001] No. 137)

On September 28, the FX 2001 new foreign exchange trading system was officially launched

On October 8, the bond yield calculation function was officially launched

On October 20, the first issue of China's money market came out

Chinese PinYin : Zhong Guo Wai Hui Jiao Yi Zhong Xin