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 better serve the real economy, reflecting the need for updated frameworks in response to changing economic and financial environments [1][2]. Group 1: Regulatory Framework - The revised regulations aim to establish a comprehensive market supervision system, enhancing the forward-looking nature of foreign exchange market management [1][3]. - The interim regulations, first implemented in 1996, have been crucial for maintaining market order and protecting institutional rights, but require updates to meet current practical demands [2][3]. Group 2: Structure of the New Regulations - The new management regulations consist of four chapters: general provisions, management of market participants, business supervision, and supplementary provisions, totaling 35 articles [3]. - The regulations emphasize comprehensive supervision of all types of market participants by the People's Bank of China and the State Administration of Foreign Exchange, with clear management requirements and penalties [3]. Group 3: Market Infrastructure and Services - The regulations outline responsibilities and collaborative mechanisms for the infrastructure of the interbank foreign exchange market, including management of trading and clearing qualifications [3]. - Financial institutions are given autonomy in deciding participation in risk mitigation services, with a clear path for conducting RMB foreign exchange derivative transactions through domestic currency brokerage firms [3]. Group 4: Market Development - The management regulations propose to continuously enrich trading varieties and currencies based on market demand, adhering to market principles in providing data services [3].

Group 1 - The State Administration of Foreign Exchange (SAFE) Liaoning Branch focuses on supporting the real economy and enhancing cross-border trade and investment facilitation to provide strong financial support for high-quality foreign economic development [1] - In the first half of the year, foreign-related enterprises utilized RMB foreign exchange derivatives to manage exchange rate risks amounting to 3.22 billion USD, with a foreign exchange hedging ratio of 22.3% and 97 new enterprises engaging in exchange rate hedging for the first time [1] - The cross-border financial service platform has seen 7 banks assist 26 enterprises in conducting RMB foreign exchange derivative transactions, with a total signed amount of 130 million USD, improving the efficiency of these transactions [1] Group 2 - The SAFE Liaoning Branch promotes banks to provide foreign exchange settlement and related fund payment services for cross-border e-commerce enterprises, enhancing the convenience of foreign exchange settlements in this new trade format [2] - In the first half of the year, 17 direct export cross-border e-commerce transactions were processed, totaling 31,180 USD [2] - The branch has established 5 demonstration zones for payment services for foreign visitors, with 2,046 bank outlets and 53 authorized currency exchange institutions available to meet various cash exchange needs [2]