“稳产行动”以衍生品赋能橡胶产业链

Core Viewpoint - The article highlights the importance of natural rubber as a strategic material and discusses how the Shanghai Futures Exchange (SHFE) has implemented innovative financial support mechanisms, such as "insurance + futures" and "options," to stabilize the natural rubber industry and support rural revitalization efforts [1][3]. Group 1: Financial Support and Impact - The SHFE has cumulatively invested approximately 270 million yuan in the "Stabilization Action" project, covering a total of 40,000 tons of natural rubber production and providing 27.71 million yuan in payouts with an average payout rate of 93% [2]. - Since the launch of the "Stabilization Action" project in 2019, the SHFE has conducted 76 projects, invested 140 million yuan, linked over 200,000 tons of natural rubber production, and provided 130 million yuan in payouts, maintaining an average payout rate of 93% [6]. - In 2024, the SHFE allocated 5.9 million yuan for the continuation of the "Stabilization Action" project, which is expected to link 10,000 tons of natural rubber production and provide direct income guarantees to farmers [6]. Group 2: Farmer Experiences and Benefits - Farmers have reported increased income due to the "options" program, with one farmer achieving a production increase of 2.4 tons year-on-year, resulting in a total of 13.8 tons of dry rubber [3][4]. - The program has encouraged farmers to remain in rubber production despite previous considerations to seek employment in urban areas, as they now have financial security through the options payouts [3][4]. - Farmers have adapted their harvesting techniques to maximize production and income, demonstrating a commitment to improving their output in response to the financial incentives provided by the program [4][5]. Group 3: Industry Dynamics and Future Outlook - The collaboration between rubber producers and futures companies has established a communication mechanism that enhances market analysis and strategy adjustments, ensuring the stability of the project [8][9]. - The increasing sophistication of producers and traders in utilizing futures tools has led to a more robust pricing mechanism for natural rubber, with the Shanghai futures prices gaining significant influence in global trade [10]. - The introduction of the 20th rubber futures has further enhanced China's pricing power in the global market, making it a critical reference point for trade [10].