中国外汇交易中心：建立“互换通”报价商动态调整机制

Core Viewpoint - The Chinese Foreign Exchange Trading Center is optimizing the "Swap Connect" mechanism to enhance market vitality and better meet the demand of foreign investors for managing RMB interest rate risks [1] Group 1: Mechanism Optimization - The new measures include establishing a dynamic adjustment mechanism for "Swap Connect" quote providers and expanding the number of quote providers [1] - A daily net limit dynamic assessment mechanism will be improved, with the daily net limit raised to 45 billion RMB starting from October 13, 2025 [1] Group 2: Market Impact - Since its launch on May 15, 2023, "Swap Connect" has facilitated RMB asset allocation for foreign investors, serving as an efficient tool for interest rate risk management [1] - As of August 31, 2025, 82 foreign investors from 15 countries and regions have conducted over 15,000 RMB interest rate swap transactions, with a nominal principal of 8.15 trillion RMB [1] Group 3: Future Collaboration - The trading center will continue to work closely with domestic and foreign market participants and infrastructure under the guidance of the People's Bank of China to further optimize the "Swap Connect" mechanism [1] - This initiative aims to support the high-level opening of China's financial market and the internationalization of the RMB [1]