The state of development of China's foreign exchange market

In recent years, China's foreign exchange market has developed rapidly.The variety of operations in the foreign exchange market gradually increased, the scale of operations continued to grow, and membership in the market continued to expand.Based on the development of the foreign exchange market, the effectiveness of the method of indirect regulation of the monetary policy of the central bank is constantly increasing. However, the foreign exchange market of our country is still in the early stages of development, and there are relatively few foreign exchange market instruments available for trading. There is a certain degree of segmentation in the market, and the scale of transactions is small.Since interest rates on deposits and loans are still regulated, changes in interest rates in the money market have a relatively limited impact on other financial markets, such as the credit market.