Connect with us

Hi, what are you looking for?

Imsilkroad

Economic Watch: China boosts opening-up of futures market to attract global traders

Abstract : China's drive to open its futures markets to the outside world has gathered pace with an ultimate goal to serve the real economy amid the country's efforts to seek high-quality development.

BEIJING, Dec. 28 (Xinhua) — China’s drive to open its futures markets to the outside world has gathered pace with an ultimate goal to serve the real economy amid the country’s efforts to seek high-quality development.

China currently has seven kinds of commodity futures and options open to direct participation by international investors, after overseas investors were allowed to participate in the futures trading of a type of palm oil on Dec. 22.

This came right after China launched the listing and trading of bonded copper futures contracts on Nov. 19, which are open to global traders.

The China Securities Regulatory Commission (CSRC), the country’s top securities regulator, said Friday it will further expand the scope of specific futures varieties, enhance the participation of overseas traders and support overseas financial institutions in controlling or holding a stake in domestic futures firms.

The futures market can sharpen its competitive edge amid the internationalization while attracting more global investors, CSRC vice chairman Fang Xinghai said at a conference on Dec. 19.

The opening-up of the sector can boost China’s pricing power in key commodities markets, said Luo Xufeng, chairman of Nanhua Futures Co., Ltd.

China has fast-tracked the opening-up of the futures market this year, with new rules making it easier for international investors to trade in China’s markets.

The country removed foreign ownership limits for foreign-invested securities companies, fund management firms and futures companies at the beginning of this year.

The top securities regulator in June granted approval allowing J.P. Morgan Futures Co., Ltd. to become the country’s first wholly foreign-owned futures trading firm.

This year marks the 30th anniversary of the launch of China’s futures market, which has developed quickly in recent years.

At the end of November, funds in China’s futures market had exceeded 855.95 billion yuan (130.48 billion U.S. dollars), up 55.2 percent year on year, CSRC data showed.

Meanwhile, the turnover in China’s futures market reached 382.5 trillion yuan from January to November, up 45.5 percent year on year, according to the data.

The commodity futures available to international investors have been operating smoothly, such as crude oil and iron ore futures.

In Shanghai, the transshipment business of crude oil based on Shanghai crude oil futures price has expanded to the Republic of Korea, Singapore and other regions.

The iron ore futures trading on the Dalian Commodity Exchange has attracted about 270 overseas investors from 21 countries and regions.

Though China’s futures market has made remarkable progress, it still needs to improve market mechanisms, products, rules and infrastructure, while boosting its pricing power on key commodities to better serve the high-quality development of the economy, Fang said. Enditem

About Xinhua Silk Road

Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal.China’s silk road economic belt and the 21st century maritime silk road website,includes BRI Policy, BRI Trade, BRI Investment, Belt and Road weekly, Know Belt and Road, and the integrated information services for the Belt and Road Initiative (BRI).

Source: Economic Watch: China boosts opening-up of futures market to attract global traders

Press Release Wring Service
Press Release Wring Service Senmer Press Release Service

Trending

You May Also Like

Purifier

Hot selling well newest reserch humidifier with three grades mist output air purifiers 1 Specification& function Specification Product name 6-Stage Purification Air Purifier With Negative Anion and Humidifier Model No. OLS-K05 Negative ionic releasing(/cm3) 50 million...

Purifier

Best indoor air purifier small house purification with HEPA Porduct Name Air Purifier Model A3 Style Household / business type Lowest Noise 30 dB Particulate CADR 200m³/h Highest Noise 58 dB Voltage 110 / 220V(Optional) Rated Power...

Sticky Post

Repost Your Products Articles To Web2.0 + Social Sites + Photo Sites + Bookmark Sites 0.5$ to publish 1 article to 15 sites,average just...

Purifier

We believe that always we would hear the hydrogen water have antioxidation fuction, actually we don’t know what is antioxidation and why it’s so...