Purchase and sale business refers to the purchase and sale of RMB by an overseas participating bank from a domestic agent bank or an overseas clearing bank in order to meet the purchase and sale needs of overseas customers.
In May 2016, the first batch of overseas banks involved in the RMB purchase and sale business entered the interbank of China.
Currently, the interbank market can be traded including spot, forward, swaps and options.
Banks that can directly participate in renminbi trading are mainly domestic agent banks, overseas clearing banks and overseas participating banks.
For overseas participating banks, there are two participation channels, but they can only choose one of them: 1. Overseas participating banks can indirectly enter the domestic interbank market through overseas clearing banks or domestic correspondent banks; 2.
2. You can also apply to become a member of the China Center and have direct access to the domestic interbank foreign exchange market.
