事关外汇市场，央行重要新规

Core Viewpoint - The People's Bank of China (PBOC) has released new regulations for the interbank foreign exchange market to standardize and develop the market, enhance high-level openness, protect legal rights, prevent risks, and better serve the real economy, effective from February 1, 2026 [1][3]. Group 1: Regulatory Framework - The new regulations aim to strengthen supervision of the interbank foreign exchange market by clarifying requirements across various areas such as trading venues, qualification conditions, pricing norms, transaction clearing rules, information management, data services, and self-regulation, achieving comprehensive business oversight [1][3]. - The regulations emphasize that transactions in the interbank foreign exchange market must adhere to principles of openness, fairness, justice, and good faith, prohibiting fraud, market manipulation, and insider trading that could disrupt market order and harm participants' legal rights [1][3]. Group 2: Market Stability - The regulations are designed to maintain the stable operation of the foreign exchange market by standardizing the rights and obligations of market infrastructure, domestic and foreign financial institutions, currency brokers, and financial information service providers, while also requiring adherence to principles of openness, fairness, justice, and good faith to protect participants' legal rights [2][4]. Group 3: High-Quality Development - The regulations promote high-quality development of the interbank foreign exchange market by supporting the infrastructure to continuously enrich trading and clearing varieties, currencies, and methods based on market demand, facilitating financial institutions in providing foreign exchange services to clients [5]. - The PBOC and the State Administration of Foreign Exchange (SAFE) plan to continuously improve the management of the interbank foreign exchange market and deepen its development to maintain stable operations [5].