Gixiao: Calling for a vigorous development of money brokers

Gixiao, chairman of the CPPCC, has submitted proposals to the CPPCC's four-time meeting.　　Gixiao, chairman of the National Political Consultative Conference and the President of Pudong Development Bank, recently submitted proposals to four meetings of the CPPCC, calling for a vigorous development of the currency brokerage industry to strengthen the RMB independent pricing power. Gixiao said that at present, the [Chinese] currency internationalization of a range of conditions are not fully equipped, especially in the market liquidity, size and price formation mechanism and the gap between the mature market.　　Therefore, the urgent task of promoting RMB internationalization is to accelerate the development of domestic foreign exchange market, perfect the mechanism of price formation, and master the RMB exchange rate pricing power.　　Gixiao that the full play of the role of money brokerage is to accelerate the development of domestic foreign exchange market and strengthen the pricing power of effective means, can enhance the liquidity and transparency of foreign exchange market, improve the operation and allocation of funds efficiency. Gixiao also gave specific suggestions, include: speed up the pace of product innovation in the foreign exchange market, improve the product structure, and increase the support for money brokers, the scope of market participation to give money brokerage companies greater freedom and flexibility; make full use of money brokerage resources to become the regulatory body to understand market dynamics in time,　　A convenient and effective way to implement the exchange rate policy and improve the flexibility of policy implementation. Input Editor: Zhang Yi