Approved foreign exchange business in October 2022

In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank approved the following:

1. O-Bank to engage in principal protected callable structured products composed of foreign currency interest rate swaps and foreign currency interest rate swaptions linked to foreign currency principals.
2. Two branches of two banks to operate the foreign exchange business. As of the end of October 2022, there were 3,456 authorized banks, including 3,416 domestic banks, 3 Mainland banks, and 37 foreign banks.