According to the statistics of the State Administrationof Foreign Exchange (SAFE), the Chinese foreign exchange market (excludingforeign currency pairs, the same below) recorded total transactions of RMB 22.20 trillion (equivalent to USD 3.50 trillion) in March 2022.

In terms of markets, the transactions volume of clientmarket was RMB 3.83 trillion(equivalent to USD 0.60 trillion), and the transactions volume of interbankmarket was RMB 18.37 trillion(equivalent to USD 2.90 trillion). Interms of products, the cumulative transactions volume of the spot market wasRMB 7.34 trillion (equivalent to USD 1.16 trillion), and that of the derivatives market was RMB 14.86 trillion (equivalent to USD 2.34 trillion).

From January to March 2022, a total of RMB 57.67 trillion (equivalent to USD 9.08 trillion) was traded in the Chinese foreign exchangemarket.