According to the statisticsof the State Administration of Foreign Exchange (SAFE), the Chinese foreignexchange market (excluding foreign currency pairs, the same below) recorded totaltransaction of RMB 17.36 trillion (equivalent to USD 2.48 trillion) in March 2020.Specifically, the transaction volume of the bank to customer market was RMB 3.22trillion (equivalent to USD 458.8 billion), the transaction volume of interbankmarket was RMB 14.15 trillion (equivalent to USD 2.02 trillion), the cumulativetransaction volume of the spot market was RMB 7.05 trillion (equivalent to USD 1.00trillion), and that of the derivatives market was RMB 10.32 trillion(equivalent to USD 1.47 trillion).

From January to March 2020, a total of RMB 43.01trillion (equivalent to USD 6.17 trillion) was traded in the Chinese foreignexchange market.

In addition, the StateAdministration of Foreign Exchange revised the data on the transaction volumeof the bank to customer market in February 2020 based on the latest data, andreleased it through the “Data and Statistics” section of the official websiteof the State Administration of Foreign Exchange.