（PCPA注：非官方译本。当产生歧意时,应以法律中文原文为准。This English document is not an official translation．In case of discrepancy, the original Chinese version shall prevail.）

Public Notice by the People's Bank of China on Further Improving the Inter-bank Spot FX Market

People's Bank of China　　[2006] No.1 Public Notice of the People's Bank of China　　Jan 3, 2006

For the purposes of improving the managed floating exchange rate regime based on market supply and demand and by reference to a basket of currencies, promoting the development of FX market, enriching the mode of foreign exchange transactions, and enhancing the independent pricing capability of financial institutions, the People's Bank of China determines to further perfect inter-bank spot FX market and improve the formation mechanism of the middle price of RMB exchange rates．The relevant matters are hereby publicly notified as follows:

1．Over-the-counter transactions ("OTC transactions") will be introduced into the inter-bank spot FX market starting from 4 January 2006, and the way of matching shall be kept at the same time．The participants in the inter-bank FX market may engage in FX transactions either by centralized credit authori