On July 23, 2018, the futures company executives' training class hosted by the China Futures Association was held in Beijing. Vice chairman of the CSRC Fang Xinghai attended the opening ceremony and spoke.

Fang Xinghai has carried out an in-depth analysis of several aspects of Chinese current economic and financial situation, the opening up of the financial sector and the development of the futures industry. He pointed out that Chinese economy has a strong endogenous growth momentum. Although China's current economic development is confronted with challenges such as China-US trade frictions, Chinese GDP has still achieved 6.8% growth in the first half of the year, and its import and export and fiscal revenue have increased rapidly. In the middle and long term, the trend of Chinese sustained economic growth has not changed. We should maintain confidence in the development of the country's economy.

Fang Xinghai pointed out that the pace of opening the capital market to the outside world is accelerating. The Party committee of the CSRC is actively responding to the speech of general secretary Xi Jinping in the Boao Forum, speeding up the opening of the capital market to the outside world, promoting reform, promoting development, promoting Chinese win-win cooperation with the world and ensuring national security better.

For the future development of the futures market, Fang Xinghai proposed that, first of all, we must stick to the fundamental purpose of serving the real economy. Futures market should play a reasonable pricing and risk management function, promote the development of high quality economy and enhance the efficiency of resource allocation. We should balance the relationship between market activity and serving the real economy, maintain moderate activity and liquidity, and realize the market function. Secondly, we should increase business and variety innovation. Continue to promote variety innovation, improve existing varieties, focus on solving the problem of active contract discontinuity and other problems that affect the efficiency of enterprise risk management, and improve the customer participation of industrial customers and financial institutions. Third, continue to promote the internationalization of the futures market, promote policies and institutional barriers, and gradually internationalize mature varieties. Fourth, to promote the development of financial futures. We should resume the normal trading of stock index futures to meet the demand for risk management in the stock market of domestic and foreign investors, research on financial futures options, enrich the variety of treasury bond futures, and continue to promote commercial banks to participate in treasury bond futures trading.

Copyright by FangQuant.com