Key facts
- Guotai Haitong Securities is the first Chinese brokerage approved to trade offshore yuan in the Shanghai Free Trade Zone.
- The firm will trade offshore yuan spot and derivatives, including forwards, swaps, and options.
- Trading is scheduled to begin on July 6.
- This move expands the offshore yuan market beyond commercial banks.
Guotai Haitong Securities has been approved to trade offshore yuan in the Shanghai Free Trade Zone, marking a significant expansion of the currency market beyond commercial banks. The brokerage is set to begin trading offshore yuan spot and derivatives, including forwards, swaps, and options, on July 6. This development is seen as a key step in China's gradual financial liberalization, aiming to facilitate broader cross-border investment and currency hedging.