The reporter learned from the Xinjiang Branch of the People's Bank of China that in the first four months, the amount of foreign currency exchange business handled by individual local and foreign currency exchange franchising institutions in Xinjiang increased by 399% year on year.

Since this year, in order to further promote the foreign currency exchange services for overseas visitors to Xinjiang, the Xinjiang Branch of the State Administration of Foreign Exchange has strengthened the overall arrangement of individual local and foreign currency exchange concessions, realized the expansion of the number of domestic exchange concessions, continued to optimize the level of exchange services, effectively expanded the exchange currency, and effectively improved the level of foreign currency exchange services under its jurisdiction.

The Xinjiang Branch of the State Administration of Foreign Exchange actively promotes national individual local and foreign currency exchange concessions to settle in Xinjiang in accordance with the principles of marketization and sustainability. In the middle of April, Shanghai Ctrip Financial Information Service Co., Ltd. added two outlets of personal local and foreign currency exchange franchise institutions in Urumqi, respectively located in Xinjiang Frontier Hotel and Xinjiang International Bazaar Business District.

At the beginning of the year, the Xinjiang Branch of the State Administration of Foreign Exchange coordinated Yuxin (Xiamen) Currency Exchange Co., Ltd., an individual franchising agency for local and foreign currency exchange, which has been set up in the departure hall of Urumqi Diwobao International Airport, to add foreign currency self-service exchange machines in the international arrival area of the airport, enriching the foreign currency exchange service in key regions.

By the end of April, there had been three local and foreign currency exchange concessions for individuals in Xinjiang, mainly in Urumqi, and the next step would be to expand to ports. At the same time, according to the actual situation of trade with Central Asian countries and inbound and outbound flights, the Xinjiang Branch of the State Administration of Foreign Exchange has instructed individual local and foreign currency exchange concessionaires to add Kazakhstan tenge, Russian ruble and other currencies, and the outlets are equipped with more than 20 currencies.

Individual local and foreign currency exchange concessions were piloted in Beijing and Shanghai in 2008. In 2010, Xinjiang became one of the pilot areas. Such institutions have the characteristics of flexible business hours, diversified exchange currencies, and business outlets distributed in airports, ports and other external transportation hubs, which are beneficial supplements to bank exchange channels and can better meet individual domestic and foreign currency exchange needs. (Wang Yongfei)

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