Brief Introduction
China Foreign Exchange Trade System (CFETS), also known as the National Interbank Funding Center, is a sub-institution affiliated to the People’s Bank of China (PBOC).
As China’s major financial infrastructure, CFETS has been committed to interbank market development since 1994. Under the strategic goal of becoming the major global trading platform and pricing center for RMB and related products, CFETS provides services in the interbank FX market, money market and bond market, including primary issuance, trading, post-trade processing, market data and benchmarks as well as investor education services, covering the RMB-denominated interest rate, the RMB exchange rate and related products in relevant cash and derivatives markets.
CFETS is authorized to publish market benchmarks, including RMB Central Parity Rate, CFETS RMB Indices, Shanghai Interbank Offered Rate (Shibor), Depository Institutions Repo Rate (DR), Loan Prime Rate (LPR), RMB Reference Rates, etc. CFETS undertakes daily market monitoring and hosts the secretariats of the Interest Rate Self-Regulatory Mechanism, the Macro Prudential Assessment (MPA) Committee, and the China FX Market Self-Regulatory Framework. In addition, CFETS supports the PBOC’s monetary policy operation and transmission, and facilitates the implementation of macroprudential regulatory policies.
The headquarter of CFETS is located in Shanghai, with a remote center in Beijing. CFETS has the following departments in Shanghai: General Office, FX Market Department, RMB Market Department, Clearing Department, Technology Infrastructure & Service Department, Technology R&D Department, Research Department, Market Data Department, International Affairs Department, Risk Management Department, Human Resources Department, Finance Department, Administration Department, and China FX Committee Secretariat.
CFETS has the following departments in Beijing: Beijing General Office, Beijing Market Department, and Beijing Operation Department.
CFETS has three wholly-owned subsidiaries, namely CFETS Information Technology (Shanghai) Company (CFETS IT), CFETS Fintech (Shenzhen) Company (CFIME), and CHINAMONEY Journal. CFETS is also the majority stakeholder of three joint ventures, including Shanghai CFETS-NEX International Money Broking Company (CFETS-NEX), CFETS Financial Data Company (ComStar), and Bond Connect Company (BCCL).
HUO Yingli, Secretary of the CPC CFETS Committee
ZHANG Yi, President
REN Jiangang, Inspector General
LI Ruiyong, Executive Vice President
CUI Wei, Executive Vice President
HU Jian, Executive Vice President
DONG Yiwei, Executive Vice President
