The Interbank Market Will Accelerate The Internationalization Process With CME Interconnection.

The China Foreign Exchange Trading Center (hereinafter referred to as the "trading center") signed a cooperation agreement with the Chicago Mercantile Exchange Group (hereinafter referred to as "Chi Chi business group") to promote bilateral market interconnection and product innovation.

This means that China's interbank market is open to US investors.

To further internationalize the RMB, the interbank market is expected to gradually realize the interconnection and interconnection of RMB interest rate and exchange rate through the form of exchange cooperation.

Pei Chuanzhi, President of the trading center, said: "the cooperation between the trading center and the Chicago group is an important attempt for the United States and China to broaden pragmatic cooperation in the financial field, and it is also a complementary cooperation with mutual benefit and win-win cooperation, which is conducive to further promoting the interconnection and opening up of China US financial markets, better meeting the risk appetite of interest rates and exchange rates of the Chinese and American economic entities, promoting bilateral economic and trade development, and giving full play to the role of financial markets in supporting the real economy."

The trading center is China's largest interest rate and exchange rate product market, and is the main trading platform and pricing center for Renminbi and related products.

Chicago group is the world's leading and diversified company.

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The signing of this cooperation agreement is an important move for the two sides to cooperate in implementing the seventh round of Sino US strategic economic dialogue.

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The trading center and the Chicago group will work together to connect the market infrastructure and products between the two sides, so as to realize the pactions between the Chinese interbank market and the interbank market participants, and to undertake joint development of the offshore exchange rate and interest rate spot and derivatives.

Executive Chairman and President of Chichi group

"We are very pleased to sign a cooperation agreement with the trading center to make our bilateral cooperation closer.

This innovative agreement will broaden the distribution channels of both markets and provide more opportunities for participants in the market.

Phupinder Gill, chief executive of Chi business group, said: "the cooperation agreement has clearly defined the implementation plan and the rights and obligations of both sides.

For us, China is a very important market. We believe that in-depth cooperation with trading centers will further consolidate bilateral relations and better serve the needs of their respective markets. "

Next, the two sides will cooperate closely and step by step on the basis of the cooperation agreement, and strive to bring the three cooperation goals of both sides to the ground as soon as possible.