Shanghai takes the lead in establishing a self-discipline mechanism for the personal foreign currency exchange franchise industry.

On April 10th, it was learned from the Shanghai headquarters of the People's Bank of China that the Shanghai branch of the State Administration of Foreign Exchange recently guided the establishment of the country's first self-discipline cooperation group in the personal foreign exchange franchise industry, exploring the development model of industry self-discipline norms and enhancing the modernization level of financial governance. The first is based on the actual situation in Shanghai and strengthens governance at the source; the second is to promote the transformation of the industry from passive supervision to active regulation; and the third is to achieve organic unity between risk prevention and development promotion.