China mulls derivatives market of futures trading
(Xinhua)
Updated: 2005-05-29 14:38

An official with the China  Securities Regulatory Commission (CSRC) said they were considering to put forward derivatives trading such as share indexes and state treasury bonds gradually on the basis of improving commodity futures transactions.

The remark was made by Yang Maijun, futures section chief of  CSRC, in a speech delivered on Saturday at the second Shanghai forum on derivatives market.

Yang said they would also make efforts to study and work out trading on rights to choose commodity futures as a way to ward off risks in futures transaction, while continuing to treat agricultural products and strategic resource commodities as a  priority for future development of new varieties of futures.

The development orientation disclosed by Yang was confirmed by CSRC Chairman Shang Fulin, who also gave a speech at the forum.

Shang admitted China's futures market was at the primary stage of development and there was much for them to learn from  international counterparts in terms of advancing construction of the financial derivatives market.

"The present and months ahead are key periods of time for development of futures market in China," said Shang, promising they would steadily promote opening up of the country's futures market, as well as increase exchange and cooperation in this  aspect.

Transactions on the country's futures market have totaled 1.47  billion yuan (about 177 million US dollars) since the beginning of the year, up 36 percent on a year-on-year basis.

According to Shang, CSRC will also tighten the work of preventing and avoiding risks on the futures market, build a system for supervising futures guarantee money, improve the capability of administrating the futures market by promoting legal construction and credibility, expand basic research on relevance of futures market, spot transactions and macro economic development, as well as research and development of new strategic resource commodity futures varieties, the rights to choose  commodity futures and new derivatives.

Close

Today's Top News     Top China News
China rips Japan's war-criminal remarks         Nation ready as bird flu outbreak is stemmed         EU's call for textiles export caps opposed         Mainland tourists may visit Taiwan soon         Japan off base at East China Sea gas issue         Protests in Middle East over US Koran abuse	China mulls derivatives market of futures trading       EU's call for textiles export caps opposed       Mainland tourists may visit Taiwan soon       Twelve trapped in E. China coal mine accident       Probe into boy stowaway incident ends       Japan off base at East China Sea gas issue