China Justice Observer


EnglishArabicChinese (Simplified)DutchFrenchGermanHindiItalianJapaneseKoreanPortugueseRussianSpanishSwedishHebrewIndonesianVietnameseThaiTurkishMalay

Guidelines on Code of Conduct for the Foreign Exchange Market

Guidelines on Code of Conduct for the Foreign Exchange Market was promulgated on 26 Nov. 2021, and entered into force on 1 Jan. 2022.

The Guidelines consists of 40 articles, aiming to regulate conduct in the foreign exchange market.

The key points are as follows.

1. What activities are included in the Guidance?

The Guidance applies to the market where the Chinese currency Renminbi is

traded against foreign currencies (Art. 2) and the transactions of foreign currency pairs on the interbank foreign exchange market (Art. 36).

The Guidance also provides guidance to foreign exchange activities with market participants including organizations engaged in foreign exchange transactions, the China Foreign Exchange Trade Center, the Shanghai Clearing House, and money brokerage companies (Art. 3).

2. Must market participants disclose all transaction information to their customers?


Market participants shall make full disclosure of the relevant public information of the products to their customers before entering into transactions (Art. 9).

However, they shall not disclose sensitive information to their customers, including non-public information that has a significant impact on prices, foreign exchange transaction-related information, and designated confidential information (Art. 19).



Cover Photo by vigor poodo on Unsplash


Contributors: CJO Staff Contributors Team

Save as PDF

Related laws on China Laws Portal

You might also like

China Revises State Secrets Protection Law

China’s national legislature, the National People’s Congress, revised the State Secrets Protection Law to enhance information classification, secrecy in technological innovation, and precise protection of state secrets, effective May 1, 2024.

China Enhances Legal Aid Law Implementation

In November 2023, China’s Supreme People’s Court and other top judicial bodies jointly issued measures to implement the Legal Aid Law, clarifying responsibilities and ensuring parties' rights to legal aid.

China Revises Marine Environment Protection Law

In October 2023, the Standing Committee of the National People's Congress, China's legislature, promulgated the newly revised Marine Environment Protection Law, which imposes stricter regulations on activities in the marine environment and prohibits certain discharges and dumping.