（来源：经济日报） 转自：经济日报 新规定立足我国银行间外汇市场发展变化和监管实践，统筹整合有关制度规定，形成系统性的监管框架 和监管要求。主要内容包括：一是加强银行间外汇市场监管，从交易场所、资质条件、报价规范、交易 清算规则、信息管理、数据服务、自律管理等领域明确相应要求，实现业务监管全覆盖。二是维护外汇 市场稳健运行，规范银行间外汇市场基础设施、境内外金融机构、货币经纪公司、金融信息服务商权利 和义务，要求遵循公开、公平、公正和诚实信用原则，保护市场参与者合法权益。三是推动银行间外汇 市场高质量发展，支持外汇市场基础设施根据市场需求不断丰富交易和清算品种、币种、方式等，便利 金融机构为客户提供外汇服务。 下一步，中国人民银行、国家外汇管理局将不断健全银行间外汇市场管理，深化外汇市场发展，维护外 汇市场稳健运行。（经济日报记者 勾明扬） 记者从中国人民银行获悉，为规范和发展外汇市场，扩大高水平对外开放，保障各方合法权益，防范相 关风险，促进外汇市场更好服务实体经济，中国人民银行对《银行间外汇市场管理暂行规定》（银发 〔1996〕423号）进行修订，发布《银行间外汇市场管理规定》（中国人民银行令〔2025〕 ...

Core Viewpoint - The People's Bank of China (PBOC) has issued the "Regulations on the Management of the Interbank Foreign Exchange Market," which will take effect on February 1, 2026, aiming to standardize and develop the foreign exchange market, protect the legitimate rights and interests of all parties, and prevent related risks [3][5]. Group 1: Regulatory Framework - The new regulations revise the previous interim regulations from 1996, establishing a systematic regulatory framework that covers trading venues, qualification requirements, pricing norms, transaction clearing rules, information management, data services, and self-regulation [3][7]. - The regulations emphasize the principles of openness, fairness, justice, and good faith in the interbank foreign exchange market, prohibiting fraud, market manipulation, and insider trading [3][8]. Group 2: Market Operations - The PBOC will authorize the foreign exchange trading center to calculate and publish the RMB central parity rate based on quotes from qualified financial institutions, and to release important data indicators such as the closing price and reference rate [3][11]. - The interbank foreign exchange market will implement a daily maximum fluctuation management mechanism for spot trading prices, with the fluctuation limits determined and published by the PBOC [3][11]. Group 3: Participant Management - Domestic financial institutions must conduct RMB and foreign currency transactions through the foreign exchange trading center and are required to manage conflicts of interest effectively, ensuring the protection of clients' legitimate rights [3][10]. - The regulations require financial institutions to establish internal management systems and risk control mechanisms, ensuring a separation of front, middle, and back offices [3][10]. Group 4: Data and Information Management - The foreign exchange trading center and Shanghai Clearing House are responsible for organizing interbank foreign exchange market transactions and clearing under the supervision of the PBOC and the State Administration of Foreign Exchange [3][9]. - Financial institutions and related entities must protect transaction-related information and ensure compliance with data security and network safety regulations [3][13].

Group 1 - The People's Bank of China and the State Administration of Foreign Exchange released the "Regulations on the Management of the Interbank Foreign Exchange Market (Draft for Comments)" to enhance regulation and promote the foreign exchange market's service to the real economy [1][5][13] - The interbank foreign exchange market is defined as the market for trading Renminbi and foreign currencies through the China Foreign Exchange Trading System [13][14] - The draft regulations aim to address the changes in the external and internal environment of the foreign exchange market due to ongoing economic and financial reforms [14][15] Group 2 - The main content of the draft regulations includes five aspects: strengthening market regulation, constructing a comprehensive regulatory system, improving infrastructure management, clarifying the business boundaries of participating institutions, and enhancing the forward-looking nature of market management [15][16] - The regulations emphasize the need to enrich trading varieties and currencies based on market demand, and to provide data services according to market principles [15][16] - Specific requirements include expanding trading varieties such as spot, forward, swaps, and options, as well as improving transaction time arrangements [16]