More futures trading approvals sought

Futures trading of charred coal, rapeseed and rapeseed extraction have been submitted to the State Council for approval, said Jiang Yang, vice-chairman of the China Securities Regulatory Commission at the Regulations on the Administration of Futures Trading forum.

Jiang also said that preparation work for treasury bond futures is almost completed and that for crude oil futures is proceeding steadily. Meanwhile, the commission is studying creative businesses such as the initial public offering of futures companies, the sales business of securities investment funds and the setting up of cash commodity subsidiaries.

The commission also announced that Zhengzhou Commodity Exchange has obtained approval for glass futures trading.

Glass futures trading will help companies to manage risks via hedging. Companies that will benefit from treasury bond futures include listed companies with joint shares or the controlling interests of non-securities futures companies, securities companies, insurance companies and banks.