China to create own version of forex code

New committee to write Chinese version of code for onshore banks

asia-globe- roll-out
China set to join the other eight FX centres with a code of conduct

China is creating its own version of the Global Code of Conduct for foreign exchange markets, in a move aimed at aligning the country's rules with international standards outlined in May this year, Risk.net's sister site FXWeek.com has learned.

The code will apply to local and foreign banks operating in the Chinese onshore market, and it's slated for publication within a year. The work on the code is led by the recently created Chinese Foreign Exchange Committee (CFXC), which operates under the

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