The State Administration of Foreign Exchange will continue to guide market makers to strengthen their competitiveness in spot，forward，swap，and option transactions. The goal is to facilitate liquidity in the foreign exchange market and improve the market-based exchange rate mechanism.

In 2005，SAFE issued the Guidelines for Inter-bank Foreign Exchange Market Makers (for Trial Implementation) (hereafter referred to as the “Guidelines”)，which was revised in 2010 and again in 2013 to adapt to the development of the foreign exchange market.

In recent years，with the steady progress in the two-way opening-up of the financial market， the need for an improved market-making regime is urgent. In light of this fact，SAFE has made new revisions to the Guidelines based on in-depth research and broad consultation. The latest version was released in January 2021.

In the interview with Qiao Linzhi，director of the Exchange Rate and Market Division，SAFE's Balance of Payments Department，he explained the context and key points of the revision and pointed out the direction for the development of the regime.