The English and Russian versions of the China(XinJiang)- Silk Road Currency Regional Trading Information Platform are officially launched

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Publishing date: 2019-03-25 17:00:00

To support the Belt and Road Initiative and to improve the sharing mechanism for FX trading information, the ChinaXinJiang- Silk Road Currency Regional Trading Information Platform is officially launched in both English and Russian versions on March 25, 2019, in order to facilitate the access for users from the overseas countries or regions along the B&R.

 

The China (Xin Jiang) —Silk Road currency regional trading information platform is the first regional currency trading information platform jointly established by the China Foreign Exchange Trading System (CFETS) and Urumqi central branch of the People’s Bank of China under the framework of the unified interbank FX market, aiming to further enhance the openness and transparency of regional currency trading information and improve the information sharing mechanism for foreign exchange market.

 

The information platform officially went live on August 20, 2018. It has comprehensively displayed the interbank market and OTC market information of RMB against currencies of neighboring countries of China (XinJiang), such as Kazakhstan Tenge, Tajikistan Somoni and Pakistan Rupee.

On January 21, 2019, the market quotation sources on the platform have been further enriched, by adding the new individual market quotation, and finally formed the multi-level comprehensive quotation involving the interbank market, OTC market and individual market. The integrated platform therefore displayed the quotation of the Silk Road currency regional market more thoroughly and objectively, which in turn further improving the market transparency.

 

With the active participation of all quoting banks in China (XinJiang) and the joint efforts of the Urumqi branch of People’s Bank of China and CFETS,the function of the platform has been constantly optimized, including the standardization for the market quotation behavior and improvement of the monitoring and regulation system. The Silk Road information platform is gradually becoming an important reference for the RMB to currencies in Central Asia.

 

The launch of the English and Russian versions will further enhance interconnection and intercommunication among the Belt and Road countries and regions, by providing greater transparency and better information sharing mechanism of regional inter-bank FX market to Chinese and foreign financial institutions and enterprises. The platform will also help to increase the usage of Renminbi in the international trade and investment activities with our neighboring regions and countries like Kazakhstan. It is expected to be a positive demonstration of future financial and currency cooperation to the Belt and Road regions and countries.

 

China (XinJiang) - the Silk Road currency regional trading information platform is open to all market members and the public. It can be viewed by clicking the links on the official website of Urumqi central branch of the People’s Bank of China and the RMB/FX regional trading section on the Chinamoney website.

 

For direct access to the platform, please visit:

English version: http://rfi.chinamoney.com.cn/wlmq-en

Russian version: http://rfi.chinamoney.com.cn/wlmq-ru