China Foreign Exchange Trade System (CFETS) has recently launched direct trading between Renminbi and seven currencies, including Danish Krone, Swedish Krona, Norwegian Krone, Hungarian Forint, Polish Zloty, Turkish Lira and Mexican Peso. As a direct market maker, ICBC completed the first trades between Renminbi and the seven currencies on the first day of direct trading, including the first trade of Renminbi against DKK, HUF, Polish Zloty, Turkish Lira and Mexican Peso.

Insiders said that CFETS's launching of direct trade of seven currencies, which covers Northern Europe, Central and Eastern Europe, across Eurasia and North America and other markets, will help reduce local and Chinese enterprises' exchange costs, promote bilateral trade and investment flows between China and relevant countries.

Direct market maker system is used in the inter-bank foreign exchange market, where direct market makers bear the market making obligations and provide liquidity to the market through continuous selling and buying offers. In recent years, ICBC has been actively developing foreign exchange market making business based on customer needs and has obtained all market maker qualifications for all directly traded currencies in the inter-bank foreign exchange market, securing a leading market position in market making transaction volume. ICBC currently can provide offers for 21 directly traded currencies including Euro, Japanese Yen, British Pound, Australian Dollar, New Zealand Dollar, Singapore Dollar, Swiss Franc, Russian Ruble, Malaysian Ringgit, South African Rand, South Korean Won, United Arab Emirates Dirham, Saudi Riyal, Canadian Dollar, Danish Krone, Swedish Krona, Norwegian Krone, Hungarian Forint, Polish Zloty, Turkish Lira, and Mexican Peso.