According to the statisticsof the State Administration of Foreign Exchange (SAFE), the Chinese foreignexchange market (excluding foreign currency pairs, the same below) recorded totaltransactions of RMB 15.67 trillion (equivalent to USD 2.21 trillion) in May 2020. Specifically,the transactions volume of the bank to customer market was RMB 2.33 trillion (equivalent toUSD 328.0 billion), the transactionsvolume of interbank market was RMB 13.34 trillion (equivalent to USD 1.88 trillion), the cumulativetransactions volume of the spot market was RMB 5.81 trillion (equivalent to USD 817.7 billion), and that ofthe derivatives market was RMB 9.86 trillion (equivalent to USD 1.39 trillion).

From January to May 2020, a total of RMB 74.96 trillion (equivalent to USD 10.67 trillion) was traded in the Chinese foreignexchange market.