Chinese derivatives regulations expected soon, say bankers

The new regulations being drafted by the People’s Bank of China (PBOC) will pave the way for a wider range of permitted renminbi-denominated forex derivatives products, as well as a greater number of banks able to offer these products.

“The proposed new regulations on financial derivatives has been deliberated by the central bank for some time now,” said Xinqiang Zhu, general manager, global markets, at the Bank of China, speaking at the International Swaps and Derivatives Association’s (Isda