Foreign exchange trading is not illegal, but by 2020, the state has not officially approved a foreign exchange platform for foreign exchange trading, because China has a foreign exchange control system. The state acquiesces that banks, especially the four major banks, can now conduct foreign exchange transactions in the form of settlement and sale of foreign exchange.

Foreign exchange transaction is the exchange of one country's currency with another. Different from other financial markets, the foreign exchange market has no specific location and no central exchange, but transactions between banks, enterprises and individuals through electronic networks.

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