加强银行间外汇市场监管 新规正在征求意见

Core Viewpoint - The People's Bank of China and the State Administration of Foreign Exchange are revising the interim regulations on the interbank foreign exchange market to enhance regulation and support the real economy, with a draft open for public consultation until September 21, 2025 [1][3]. Summary by Sections Regulation Enhancement - The new regulations aim to strengthen oversight of the interbank foreign exchange market, with comprehensive management requirements and penalties for various market participants [4][5]. Comprehensive Market Supervision - A full-chain market supervision system will be established, covering operational management, trader management, legal agreements, market maker management, information exchange, disclosure, data services, and self-regulation [4][5]. Infrastructure Management - The regulations will clarify the responsibilities and cooperation mechanisms of the foreign exchange market infrastructure, including transaction and clearing qualifications and supervision duties [4]. Business Boundaries for Participants - The regulations will define the market entry scope, basic conditions, and business principles for financial institutions, allowing them to independently decide on risk mitigation services [4][6]. Forward-looking Management - The regulations reflect a proactive approach to market trends, aiming to enhance the management of the foreign exchange market by utilizing modern technologies for data analysis and risk detection [6].