Trading volume of China's foreign exchange market increased significantly

Reporter: Zhang Mo intern: Zhangxiaofang, deputy director of the State administration of foreign exchange Wang Xiaoli 25th in the first China Foreign exchange and gold forum, said that the exchange market activity due to liquidation risk and transaction costs decreased and continued to rise, the market volume increased significantly.　　According to the latest statistics, daily turnover in the first 3 weeks of June this year increased by 26% compared with the average daily turnover in 2008. Wang Xiaoli said that after 4 years of reform and development, the marketization of China's foreign exchange market has been greatly improved, with the initial price discovery, management risk and allocation of resources function, in order to establish a sound market supply and demand as the basis of A managed floating exchange rate system provides an increasingly solid base. 2008 market volume increased by 10 times times compared with 2004, China's foreign exchange market continued healthy development of the long-term situation, and did not change because of the financial crisis.　　Wang Xiaoli said that the 2009-year Exchange Bureau will focus on improving the bank's customer listing, currency management, and continue to promote the bank trading exchange position management, and steadily promote product innovation in the foreign exchange market, strengthen the foreign exchange market operation and the regulation of derivative product innovation to further guide the standardization of foreign exchange market development. In addition, China's domestic gold market development is very rapid. Wang Xiaoli said that in July 2007, the Foreign Exchange Bureau issued a notice on the banking gold business and foreign exchange management, allowing the commercial banks to carry out the foreign exchange exposure formed by Cross-border Gold trading into the platform management according to their own decision and market operation principles. Since the implementation of the policy, there have been Bank of China, Minsheng Bank and other banks to carry out this business, to promote the development of the domestic gold market has played a positive role. According to Statistics, 2008, China's commercial bank account gold, also known as Paper gold Business, the cumulative turnover of 1424 tons, 2.5 times times the increase, the transaction amount of 272 billion yuan, year-on-year growth of nearly 3 times times.