China to allow more banks to sell FX forwards

BEIJING, Dec 28 (BestGrowthStock) – China will allow more banks to
provide foreign exchange forward services to their clients,
the country’s foreign exchange regulator said on Tuesday.

Banks, which were not qualified for such services, can
cooperate with approved banks in providing foreign exchange
forward contracts to clients, the State Administration of
Foreign Exchange said in a notice on its website.
(Reporting by Zhou Xin and Koh Gui Qing)

China to allow more banks to sell FX forwards