According to the statisticsof the State Administration of Foreign Exchange (SAFE), the Chinese foreignexchange market (excluding foreign currency pairs, the same below) recorded totaltransactions of RMB 16.27 trillion (equivalent to USD 2.30 trillion) in April 2020. Specifically,the transactions volume of the bank to customer market was RMB 2.48 trillion (equivalent toUSD 351.5 billion), the transactionsvolume of interbank market was RMB 13.79 trillion (equivalent to USD 1.95 trillion), the cumulativetransactions volume of the spot market was RMB 5.77 trillion (equivalent to USD 816.7 billion), and that ofthe derivatives market was RMB 10.50 trillion (equivalent to USD 1.49 trillion).

From January to April 2020, a total of RMB 59.29 trillion (equivalent to USD 8.47 trillion) was traded in the Chinese foreignexchange market.