Organizational Structure

Leadership

 Chairman  Wang Jiang  President, Bank of China
 Secretary General  Sun Jie  Executive Vice President, China Foreign Exchange Trade System

Members

Members of the China FX Market Self-Regulatory Framework are divided into three categories: 

  • Key Members: members that play the role of market leaders with systematic importance, significant market influence, sound business procedures and internal control mechanisms. 

  • General Members: members with relatively significant market influence in the interbank FX market trading or the retail FX and cross-border RMB businesses, sound business procedures and internal control mechanisms. 

  • Associate Members: members other than key members and general members. 


Working Groups

The China FX Market Self-Regulatory Framework has set up three working groups: the Exchange Rate Working Group, the Interbank FX (Wholesale) Market Code of Conduct Working Group, and the Retail FX and Cross-Border RMB Business Working Group. 

The Exchange Rate Working Group  Click to search CNY Central Parity Rate

fulfills self-regulatory responsibilities with regards to USD/CNY central parity rate quoting, formulates codes of conduct and best practices for USD/CNY central parity rate quoting, and promote adherence. 

Lead: Industrial and Commercial Bank of China 

The Interbank FX (Wholesale) Market Code of Conduct Working Group 

fulfills self-regulatory responsibilities with regards to wholesale interbank FX trading, formulates codes of conduct and best practices for interbank FX trading, and promotes adherence. 

Lead: China Citic Bank 

The Retail FX and Cross-Border RMB Business Working Group 

fulfills self-regulatory responsibilities with regards to retail FX and cross-border RMB businesses, formulates codes of conduct and best practices for retail FX and cross-border RMB businesses, and promotes adherence. 

Lead: Bank of China 


Secretariat

The secretariat of the China FX Market Self-Regulatory Framework resides with CFETS.