Fang Xinghai: Futures Exchanges Should Increase Product Supply and Actively Promote Opening Up

Reporters learned from the Zhengzhou Commodity Exchange on June 1st that the eighth member meeting of the Zhengzhou Commodity Exchange was recently held in a video conference. At the meeting, Fang Xinghai, vice chairman of the China Securities Regulatory Commission, delivered a speech via video. Fang Xinghai said that since the outbreak of COVID-19, the CSRC has resolutely implemented the Party Central Committee and the State Council’s decision-making on epidemic prevention and control, and has always integrated the development of the futures market into the overall situation of combating the epidemic and economic and social development to plan and advance. The futures market opens normally and realizes normal operation, making positive contributions to strengthening market confidence and stabilizing social expectations.

Fang Xinghai said that this year marks the 30th anniversary of the establishment of Zhengzhou Commodity Exchange and the 30th anniversary of the establishment of the Chinese futures market. In the 30 years since its establishment, Zhengzhou Commodity Exchange has kept in mind its mission and forged ahead. It launched the China’s first futures contract, formulated the first real futures rules, and listed six global unique varieties, including PTA and Apple, which made an important contribution to serving the real economy and developing futures market. In this process, the Zhengzhou Commodity Exchange and the majority of member units have done a lot of fruitful work and made arduous efforts, The results deserve full affirmation.

Fang Xinghai said that as the hub of the futures market, the futures exchange should increase its political position, strengthen its responsibility for promoting the construction of China's modern market system. It should take serving the development of the real economy as the starting point and the goal. In addition, the futures exchange should increase product supply, improve the quality of market operations, strengthen risk prevention and control, actively promote opening up, and improve the governance structure. It is hoped that Zhengzhou Commodity Exchange and the majority of futures operating institutions will take the convening of this general meeting as an opportunity, in order to adhere to the general tone of progress in stability, do a solid job of “six stability”, fully implement the tasks of “six guarantees”, and adhere to "Four awe, one force" supervision concept. They should implement the requirements of comprehensively deepening the reform of the capital market, work together, forge ahead, strive to overcome the adverse effects of COVID-19, and write a new chapter in promoting the high-quality development of the futures market.

Source: www_cnstock_com / China Securities Website