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No. of Banks Participating in CN Forex Biz Reform Hikes to 18, Including Citi/ HSBC/ JPM
China's State Administrative of Foreign Exchange (SAFE) promoted the reform of banks' foreign exchange business in 2023, according to the 21st Century Business Herald. Sinc...
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No. of Banks Participating in CN Forex Biz Reform Hikes to 18, Including Citi/ HSBC/ JPM
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China's State Administrative of Foreign Exchange (SAFE) promoted the reform of banks' foreign exchange business in 2023, according to the 21st Century Business Herald. Since the implementation of the reform, banks have actively participated, and the response across all sectors of society has been positive.

Currently, the number of participating banks has increased from the initial 4 to 18, with the coverage scale gradually expanding nationwide.

Related NewsCentral Parity of USD/ RMB Hikes 54 bps to 7.1656
The 18 participating banks include three major banks, nine joint-stock banks, three city commercial banks and three foreign banks. Of which, the foreign banks are Citibank, HSBC and JPMorgan Chase.

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