In recent years, as the world's second largest economy, China's financial products and financial derivatives have an important impact on the development of the world economy and finance. As an indispensable branch of financial derivatives, foreign exchange derivatives transactions in China started late and developed slowly, but with the further promotion of China's financial market reform, the reform of the RMB exchange rate system and the progress of RMB internationalization, China's foreign exchange derivatives market structure and development are also constantly improving. This paper will analyze the current situation of foreign exchange derivatives in China from the current situation of derivatives development and some advantages and disadvantages in the development process.