The golden autumn will send you cool, and get together on the “cloud” side. The 2021 China (Zhengzhou) International Futures Forum will open online on September 1.Fang Xinghai, vice chairman of the China Securities Regulatory Commission, said in his speech that after more than 30 years of exploration and development, my country has listed 94 futures and options products, coveringAgricultural products、Non-ferrous metals, Iron and steel, energy, chemical industry, finance and other major sectors of the national economy, nine varieties including crude oil futures have been opened to the outside world, and their international influence has gradually increased. As an important part of the country’s modern financial system, the futures market has played an active role.
Fang Xinghai said that the futures market must insist on integrating its own development into the overall consideration and planning of building a new development pattern, and insist on putting the promotion of economic stability and health in the first place. The futures market must become an international pricing and risk management platform that serves the large domestic market and connects the internal and external cycles; it must actively serve the “dual-carbon” goal, empower the country’s green development, and help entities to transform to green and low-carbon; it must serve the villages An important force in the revitalization strategy.
One is to increase market supply. Give full play to the advantages of the futures market and help build a national carbon emissions trading market. Steadily and prudently promote the development and listing of new commodity futures and financial futures.Actively study the characteristics of listingAgricultural productsFutures promote rural revitalization. Steady expansion and optimization”insurance+ Futures” to help consolidate and expand the results of poverty alleviation and the effective connection of rural revitalization. Pay attention to the role of option products in risk management, and launch more option products.
The second is to improve the quality of operation. The futures market should increase its service to downstream enterprises and small and medium-sized enterprises, encourage more large-scale industrial enterprises to participate in the futures market, and realize the joint improvement of the operation quality of the futures market and the effect of industrial customer risk management. Various measures have been taken to attract institutional investors and continue to optimize the market structure. Increase the supply of systems, steadily promote the combined margin business, and establish an inter-exchange settlement risk isolation mechanism. Further solve the problem of continuous activeness of key varieties of contracts, and reduce the barriers to participation of physical enterprises.
The third is to expand opening up. Continue to expand the scope of specific open products, broaden the open model, and adopt more bonded delivery and cash delivery models to facilitate the participation of international investors. Pay more attention to the in-depth connection between institutional rules and the international market, further promote the institutional opening of the futures market, and at the same time strengthen cross-border supervision and law enforcement cooperation with overseas regulatory agencies. Increase the pricing influence of my country’s bulk commodity market in the process of opening up, and focus on taking the lead in making breakthroughs in Asian time zones in soybeans, palm oil, PTA, crude oil and other varieties.
The fourth is to ensure a stable and orderly market. Stability and order is the basis for the effective functioning of the futures market. In recent years, we have implemented the joint supervision of the futures and spot market to prevent excessive speculation and strictly guard against price manipulation, and maintain the authenticity and fairness of futures prices. The futures market has maintained a stable, active, and orderly good posture to manage risks for enterprises. Provide tools to provide references for national macroeconomic management. We must continue to maintain such a good situation.
When talking about how to serve the national “dual carbon” goal, Fang Xinghai said that the futures market should give full play to its own advantages, promote the construction and development of the national carbon emission trading market, and actively promote the research and development of carbon futures to be open, continuous and forward-looking. The price of carbon emissions will guide the whole society to rationally allocate emission reduction resources, and help entity enterprises to transform into green and low-carbon. At the same time, the futures market should further improve the research and development capabilities of new energy industry-related products, provide new energy companies with more useful and easy-to-use risk management tools, help companies operate stably, and support the high-quality development of the industry.
(Source: Shanghai Securities News)
.