New forex derivatives to improve risk management
Print Edition
THE State Administration of Foreign Exchange said yesterday that it will introduce more foreign exchange derivatives in a bid to better manage risk and stabilize trade.
As well as the increased offering, the SAFE will simplify market access for some derivative products, adjust supervision and adapt related regulations, it said in a statement.
All of the policies will come into effect on August 1.
Under the new rules, banks will be allowed to offer diversified foreign exchange options and other products to help their clients better manage their overseas trading risk. Authorities will also streamline procedures to make it easier and faster for such products to reach the market, the SAFE said.
Banks will be required to shoulder more responsibility regarding the management of such derivatives. This will include strengthening internal risk-control mechanisms and ensuring new products are introduced only in response to real demand.
Altogether six rules and regulations concerning foreign exchange will be annulled, the administration said.
China’s trade has shown signs of stabilizing due to recovering demand in external markets.
In May, exports rose 7 percent and imports fell 1.6 percent. But in the first five months of this year, trade rose just 0.2 percent, far below the government’s full-year target of 7.5 percent.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
