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上衍论坛之开放“强音”:期货市场构建对外开放新格局
Xin Hua Cai Jing·2025-05-18 15:16

Core Insights - The 2025 Shanghai Derivatives Market Forum will be held on May 22-23, focusing on enhancing international influence and promoting openness in the derivatives market [1] - Over the past 20 years, the forum has witnessed the evolution of China's futures market from initial internationalization to deep participation in the global pricing system [2] Group 1: Internationalization of Futures Market - The first internationalized futures product, crude oil futures, was launched in 2018, becoming an essential part of the global oil pricing system and establishing Shanghai as a hub for Asia-Pacific oil trade [2] - The shipping index futures launched in 2023 have filled a gap in the domestic shipping derivatives market, with an average daily trading volume of 132,800 contracts and a trading value of 11.465 billion yuan as of April 2025 [3] - The Shanghai Futures Exchange has authorized the delivery settlement price of natural rubber futures to the Osaka Exchange, marking a significant step in the internationalization of "Shanghai prices" [3] Group 2: Institutional Innovation and Cross-Border Connectivity - The Shanghai Futures Market is continuously innovating to meet the needs of cross-border trade, implementing measures to enhance financial openness and attract global participants [4] - The establishment of a "three-tier market circulation system" aims to assist small and medium-sized enterprises in international procurement, enhancing international cooperation in the copper industry [4] - Recent collaborations with international exchanges, such as the Gulf Commodity Exchange, aim to deepen market connections with Belt and Road countries [4] Group 3: Enhancing Global Influence of "Chinese Prices" - By 2029, a framework for a distinctive Chinese futures regulatory system is expected to be established, with a goal of creating a world-class futures exchange by 2050 [6] - Shanghai aims to increase its commodity trade scale to over 10 trillion yuan by 2027, with a focus on enhancing the global trading volume of commodities priced based on "Shanghai prices" [6] - The Shanghai Futures Exchange plans to introduce more internationalized products and expand cooperation channels to attract more foreign enterprises to participate in futures trading [7]