From The Financial Times:

China stepped up the pace of its effort to liberalise its currency regime, allowing more financial institutions and companies to trade foreign currencies in the spot market and introducing renminbi forward contracts and swaps into the onshore interbank market.

The announcement follows the landmark move by the central bank three weeks ago to scrap the renminbi’s decade-long peg to the US dollar, and is in line with Beijing’s pledge to gradually introduce broader currency reform.