2014-03-03
By Guan Ping
It is learnt from the Shanghai Institute of Futures and Derivatives (SIFD) that the SIFD has lately released the 2013 Report on Development of China’s Futures Market (Chinese-English Version). The Report summarizes the progress and achievements made by China’s futures and derivatives market in 2013 in terms of four aspects and looks forward to its future development.
The Report first reviews the operation of China’s futures market in 2013, and it states that China has continued to take up an important position in global futures market in 2013.
The Report points out that, in 2013, China’s futures market has realized breakthroughs in such levels as number of products, industry structure, and futures companies’ business scopes, and regulatory concepts, and its market scale and influence have been greatly enhanced. In 2013, the launching of the continuous trading of gold, silver, and nonferrous metals, the listing of Shanghai International Energy Trading Center Co., Ltd, and the launching of simulated option trading successively by the Zhengzhou Commodity Exchange, the Dalian Commodity Exchange, the Shanghai Futures Exchange, and the China Financial Futures Exchange all demonstrate that the products in domestic futures markets have developed from single product to the upstream and downstream of the industry, thus further expanding the breadth and depth of serving the real economy. Meanwhile, the openness of China’s futures market has been strengthened day by day.
The Report also introduces the new situation of the development of China’s futures companies in 2013. It says that with the continuous development of futures market, the business scope of China’s futures companies has expanded from the previous futures brokerage business to the risk managing business, overseas futures brokerage business, and asset managing business, and mergers and acquisition, reorganization, and capital increase have become important measures of futures companies’ development. Besides, the internationalization of China’s futures companies have sped up remarkably, and futures companies, as the intermediary and bridge in the futures market, have played an important role in the development of futures market.
In the last part, the Report looks forward to the future development of China’s futures market and makes a detailed illustration in terms of laws and regulations, listing of new products, and the market’s innovative development. The Report points out that in 2014, China will continue to promote listing of crude oil futures and other strategic resource products, develop commodity options, commodity indexes, carbon emission permit, and other new trading instruments, and facilitate the supporting facility construction for the over-the-counter derivatives market. With regard to laws and regulations, the “Futures Law” has been formally included in the legislation plan in 2014. In the revision of the “Futures Law”, a series of important systems for the futures market, such as trading mechanism, subject norm, risk control, and investor protection, shall be specified and improved as well.
An official of the SIFD said that the Report aims at introducing the development of China’s futures and derivatives industry to people from all walks of life both at home and abroad, so as to make itself the communication platform connecting participants in Chinese and overseas futures markets and become the information channel for persons caring for the development of China’s futures market.
It is learnt that the SIFD, founded in 2012, is committed to building itself into a first-class industry think tank in China and a world-famous one.
Source: China Securities Journal
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