In order to maintain market order, safeguard the interests of the general public, and promote the normal operation of domestic and foreign currency exchange franchise business for individuals and foreign currency exchange business, the Circular of the General Affairs Department of the State Administration of Foreign Exchange on Relevant Issues Concerning Standardizing Domestic and Foreign Currency Exchange Franchise Business for Individuals and Foreign Currency Exchange Business (Huizongfa No. 38 [2015], “the Circular”) was issued by the State Administration of Foreign Exchange (SAFE) recently.

The Circular further standardizes and refines administration of domestic and foreign currency exchange franchise business for individuals and foreign currency exchange business, clarifies regulatory contents for market access, daily monitoring and ex-post disposal, and restates the regulatory requirements of forbidding illegal online foreign exchange speculation activities in the name of domestic and foreign currency exchange franchise business for individuals or foreign currency exchange business.

The Circular shall take effect as of the date of promulgation.