China is working to further align domestic rules with international practices to facilitate foreign institutions' derivatives trading in the country's interbank bond market, the China Foreign Exchange Trade System said on Wednesday.

The CFETS, the country's interbank bond market trading platform, is working with authorities to bridge related differences, as part of the efforts to further open the market, said Cui Wei, executive vice-president with the CFETS.

According to Cui, the market has achieved smooth access to qualified foreign investors, while Shanghai, where the CFETS is located, has played an important role in promoting China's financial opening-up.

"Shanghai is an ideal window for financial opening-up," Cui said, citing that the complete financial market system in the city can enable foreign institutions to build renminbi-denominated asset portfolios in a "one-stop way".