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| Author: | Lin, Guijun |
| Title: | An analysis of the operation of inter-bank foreign exchange market in China (original in Chinese) |
| Journal: | International Trade Journal (c)
1996 : 3, p.43-50 |
| Index terms: | FOREIGN EXCHANGE MARKET CHINA |
| Language: | chi |
| Abstract: | At present, 13 designated banks dealing with foreign exchange business, approved financial institutions and foreign banks have joined inter-bank foreign exchange market in China. Among the sold foreign exchange, the Bank of China accounts for 70-80%. Among the purchased foreign exchange, the central bank makes up 70-80%. Except for the specifically stipulated items and foreign-funded enterprises, all the foreign exchange earned from export must be settled at the designated banks. In principle, the exchange rates are decided by the market demand and supply. But the price differences should not go beyond +(-)0.3% of the basis exchange rate; and so on. |
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