China Foreign Exchange Trading Center: continue exempting small and medium-sized enterprises from bank-to-bank market transaction fees related to foreign exchange derivatives trading.

On December 19, the China Foreign Exchange Trading Center issued a notice on continuing to exempt banks from interbank foreign exchange market trading fees related to foreign exchange derivatives transactions for small and medium-sized enterprises (SMEs). Financial institutions that provide trading services for SMEs through the Foreign Exchange Trading Center Bank-Enterprise Platform will have the interbank foreign exchange market trading fees fully waived based on the client order trading volume. If financial institutions provide trading services for SMEs through other channels, they must verify SME standards and report the list of companies to the Foreign Exchange Trading Center. In this case, the Foreign Exchange Trading Center will use 50% of the client order trading volume as the basis to fully exempt the interbank foreign exchange market trading fees. The types of transactions eligible for fee discounts include forward contracts, swaps, currency swaps, and options for RMB foreign exchange derivatives. Small and medium-sized enterprises refer to medium-sized, small, and micro enterprises that meet the criteria outlined in the National Bureau of Statistics' "Classification Method for Large, Medium, Small, and Micro Enterprises in Statistical Terms (2017)." Financial institutions are required to submit client order trading information related to SMEs to the Foreign Exchange Trading Center by the 15th of the end of each quarter. The information should cover the last month of the previous quarter and the first two months of the current quarter, including client names, trading types, currency pairs, trading volumes, prices, terms, etc., and must retain relevant trading records for inspection. Financial institutions must pass on the fee reductions they receive to the relevant companies. These measures will be implemented from January 1, 2026, for a period of two years. For inquiries, contact 021-63298988-3292, 021-38585347. China Foreign Exchange Trading Center December 18, 2025 This article is excerpted from the China Foreign Exchange Trading Center and edited by Chen Wenfang for GMTEight.