Core Viewpoint - The Shanghai Clearing House will continue to waive clearing fees for foreign exchange derivatives transactions related to small and micro enterprises, effective from December 1, 2025, to November 30, 2027, to support high-quality development of the real economy and reduce hedging costs for these enterprises [1] Group 1 - The waiver applies to central counterparty clearing fees for financial institutions providing trading services to small and micro enterprises in the interbank foreign exchange market [1] - The waiver covers transactions involving RMB foreign exchange derivatives, including forwards, swaps, and options (including combinations), specifically for the RMB/USD currency pair [1] - The relevant transaction information will be provided by the China Foreign Exchange Trade System to the Shanghai Clearing House [1]