Wider opening

Source: Xinhua | 2017-02-28

CHINA opened its foreign exchange derivatives market to overseas non-central bank institutional investors yesterday. The investors are allowed to trade forwards, forex swaps and options over the counter with banks, said a circular released by the State Administration of Foreign Exchange. 

Access was granted in light of the increased presence of overseas institutional investors, which held bonds worth 870 billion yuan (US$127 billion) at the end of 2016, up 83.4 billion yuan from 2015, SAFE said.