BEIJING - China's foreign exchange (forex) market posted turnover of 110.93 trillion yuan ($16.7trillion) last year, the State Administration of Foreign Exchange (SAFE) said on Friday.
It is the first time the annual turnover of the country's forex market has been released, accordingto the SAFE.
In December, forex market turnover totaled 12.17 trillion yuan, including 2.46 trillion yuan in forextransactions between banks and their clients, 9.71 trillion yuan in interbank forex transactions, 5.53 trillion yuan in transactions on the spot forex market and 6.64 trillion yuan in forex derivativestransactions.
It is forecast that forex market turnover will continue to rise this year as more overseas investorsenter China's forex market.
In 2015, China opened its interbank forex market to overseas central banks and similarinstitutions to promote a market-oriented and more transparent interbank forex market.
So far, 14 overseas central banks and similar institutions have been allowed to trade in China'sinterbank forex market.
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