On September 8,Fang Xinghai,vice chairman of the China Securities Regulatory Commission,said at the 2023 China (Zhengzhou)International Futures Forum held in Zhengzhou, Henan Province that the futures system of the intermediate products with Chinese characteristics is gradually improving.
Fang Xinghai,vice chairman of the China Securities Regulatory Commission,said at the 2023 China (Zhengzhou) International Futures Forum held in Zhengzhou,Henan on the 8th that the futures system of intermediate goods with Chinese characteristics is gradually being improved.
Fang Xinghai said in his speech at the forum that in recent years,the development of a modern futures market with Chinese characteristics has continued to advance,business models of the futures market have become increasingly abundant, service areas have continued to expand, and its role in promoting high quality economic and social development and Chinese-style modernization has increasingly intensified.
While serving the purpose of building a modern industrial system, product innovation in the futures market closely follows the trends of modern industries development. The futures system for intermediate products with Chinese characteristics is gradually being improved.Various basic materials in new energy field such as industrial silicon and lithium carbonate are being launched one after another, which is advantageous for the industry to become internationally competitive and also for building a strong nation and strengthening new advantages in the development of green low-carbon sectors.
Fang Xinghai said that we should continue to optimize the business process of open varieties,seize favorable opportunities resulting from the changes in the international futures market, launch more specific varieties,and steadily expand the scope of QFII (Qualified Foreign Institutional Investor)/RQFII (Renminbi Qualified Foreign Institutional Investor).We should continue to deepen cross-border business cooperation between the exchanges and actively explore more diversified open paths under the premise of controlling risks.
The reporter noticed that the topic of green and low-carbon was mentioned many times at the forum. Xiong Jun, chairman of the Zhengzhou Commodity Exchange, said in his speech at the forum that he will continue to enrich the supply of specialty products and promote the research and development of new derivatives such as green and low-carbon, commodity index, weather, and logistics.
"The futures market used to be bulk commodity trading for high-carbon products such as chemicals and steel. In the future, we should promote the green and low-carbon transformation of the futures industry in terms of addressing climate change," said Ma Jun, president of the Beijing Green Finance and Sustainable Development Research Institute. At present, the production capacity of low-carbon and zero-carbon products is far from meeting market demand, requiring a lot of technology, equipment, and raw materials. There are huge investment opportunities within the transformation process of low-carbon. (Reporter/Kan Li)
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