On October 16, the “China and Global Derivatives Market Development Forum” was held in Dalian. At the forum, Zhao Zhengping, vice chairman of the China Securities Regulatory Commission, said that China's commodity futures trading volume has been ranking top in the world for nine consecutive years, and it is necessary to vigorously promote the effective integration and benign interaction between China and the world's derivatives market.

This year marks the 40th anniversary of China's reform and opening up, and it is also the 30th anniversary of the exploration of futures trading. China's futures market was born with reform and opening up, and it also grew in line with reform and opening up. The market supply has been continuously increased, the market structure has been continuously optimized, the market rules have been continuously improved, the market quality has been continuously improved, the opening up has been expanding, and the ability to serve the real economy has been continuously enhanced. The Chinese futures market has become an important part of the capital market.

At present, China's futures market has listed 59 futures and options, covering agricultural, metal, energy, chemical, financial and other important areas of the national economy. Most of the mature commodity futures in the international market have been listed in China. In recent years, futures options have also developed steadily, with the listing of soymeal options, white sugar options and copper options. With the increasing variety of China's futures market, a risk management system in line with Chinese characteristics and China's national conditions is gradually being formed.

Zhao Zhengping said that in the past ten years, the annual growth rate of China's commodity futures trading volume has reached 23.7%, and rank top in the world for 9 consecutive years. In the first half of this year, the trading volume of commodity futures reached 1.4 billion, accounting for 48% of the world; the open interest of which was 14.39 million, accounting for 18.7% of the world; the turnover was 96 trillion yuan, accounting for 27% of the world. The steady growth of the market scale has made the Chinese futures market gradually develop into an important global risk management market. China's futures market is also an indispensable part of the socialist market economy with Chinese characteristics.

Since the beginning of this year, crude oil and iron ore futures have been successfully introduced into overseas traders as specific varieties; the “Management Measures for Foreign-invested Futures Companies” has been announced; INE and DCE are registered with the Hong Kong Securities Regulatory Commission as an automated trading service (ATS). China will speed up the pace of futures market opening up, from various aspects such as varieties, institutions, and investors, etc .

Zhao Zhengping said that with the advancement of the legislative work of the Futures Law, the continuous optimization and improvement of the market regulation system will provide a stronger legal guarantee for futures trading and better protect the interests of investors.

In the next step, we will continue to focus on industrial demand, enrich the variety sequence, and actively promote the commodity futures variety, as well as the research and development and listing of options. At the same time, we will fine-tune the existing varieties, further improve the quality of the varieties and further improve the liquidity of the contracts. On the basis of the introduction of specific futures products into overseas traders, the internationalization of mature futures products will be vigorously promoted, and foreign institutions will be further encouraged to participate in China's futures transaction through QFII and RQFII. It is also necessary to promote qualified commercial banks and insurance institutions to participate in the treasury bond futures market, and encourage private equity institutions to provide hedging services for enterprises.

At the same time, it is necessary to strengthen market supervision and strengthen supervision cooperation. As a risk management market, the futures market should pay more attention to its own risk prevention and management. On the one hand, we must adhere to the law, comprehensive and strict supervision, improve and perfect the supervision system, strengthen the monitoring of abnormal transactions, and effectively control and prevent market risks. On the other hand, it is necessary to further strengthen cross-border supervision and law enforcement cooperation with overseas regulatory agencies, promote effective integration and benign interaction between China and the world's derivatives market, and promote the common development of the global derivatives market.

Copyright by fangquant.com