China expands FX market

Risk magazine
01 Jun 2005

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China has launched an interbank foreign exchange trading system, giving firms the ability to trade an additional eight currency pairs onshore. The move has led to speculation that a shift in China's currency policy may be on the cards.

"The start of China Foreign Exchange Trading System (CFETS) is significant because it further develops a framework that will assist in the expected implementation of a more flexible currency regime in China," says Peter Clarke, Singapore-based head of

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