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Chinese Bank Holds Virtual Forex Trading Contest
China's Bank of Communications (BOC) has started the country's first online foreign exchange trading contest, a simulative contest open to candidates across China.
The three-month contest, from August 8 to November 9, will be held at the websites of www.bankcomm.com and www.95559.net.cn, and will produce a final champion as well as monthly and weekly winners. The final champion will be awarded 6,000 yuan (about 723 U.S. dollars).
During the contest, the BOC will provide real-time exchange rates and data analysis on its websites for the reference of the virtual traders.
BOC's sources say that with China's forthcoming entry to the World Trade Organization, it is increasingly important for the Chinese investors to know more about forex trade and enhance their trading skills.
The Shanghai-based BOC is one of the first commercial banks to do forex trade in the Chinese mainland. The total trading volume of its Shanghai branch in the January-June period this year surged 340 percent year-on-year to 2.024 billion U.S. dollars.
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