To accelerate the development and boost the opening up of the foreign exchange market, the issues on extending the foreign exchange trading time and introducing qualified foreign players are clarified as follows:

First, extending the foreign exchange trading time. Beginning from January 4, 2016, the interbank foreign exchange trading system will be in operation until 23:30 every day, Beijing time, and accordingly, the time that market management systems apply, with regard to the central parity rate and the range of fluctuation of the RMB exchange rate, and the market maker quotation will be extended. China Foreign Exchange Trade System (CFETS) has announced that the strike price of spot inquiry about the exchange rate of the RMB against the USD at 16:30 Beijing time will be regarded as the closing price of the day.

Second, introducing qualified foreign players. After applying to the CFETS for becoming a member of the interbank foreign exchange market, qualified overseas players approved to provide RMB purchases and sales services can access the interbank foreign exchange market, and participate through the trading system of the CFETS in the trading of all listed trading categories allowed in the RMB purchases and sales business, including spot, forward, swap and options transactions. Foreign players shall participate in the trading under RMB purchases and sales in the interbank foreign exchange market, in accordance with laws and regulations.

Third, market intermediaries and service providers including the CFETS and Shanghai Clearing House shall do their part to ensure the level of services.

People's Bank of China，State Administration of Foreign Exchange

December 21, 2015