Nanhua Futures(SH:603093) Zheng Quan Ri Bao·2025-06-19 17:06Group 1 - The People's Bank of China announced the implementation of eight policy measures in Shanghai, including the research and promotion of RMB foreign exchange futures trading to enhance the foreign exchange market product series and help financial institutions and foreign trade enterprises manage exchange rate risks more effectively [1] - The introduction of RMB foreign exchange futures is deemed urgent due to the complex international situation, large and volatile cross-border capital flows, and the increasing dual-directional fluctuations of the RMB exchange rate, leading to a growing demand for hedging among domestic enterprises [1][2] - The current foreign exchange derivative market in China includes forward contracts, swaps, currency swaps, and options, which partially meet the hedging needs of the real economy, but the evolving global economic landscape necessitates the introduction of domestic foreign exchange futures to fill the existing market gap [2] Group 2 - The future launch of RMB foreign exchange futures is expected to better meet the hedging needs of enterprises, as these standardized contracts with low margin requirements and transparent pricing can significantly reduce hedging costs and help stabilize operations [3] - The introduction of standardized onshore derivatives is anticipated to enhance the international competitiveness of China's foreign exchange market, attracting more international investors and increasing market liquidity and activity [3] - Improved domestic exchange rate risk management tools will boost the confidence and willingness of foreign investors to hold RMB assets, promoting the broader use of RMB in international payments, settlements, investments, and reserves, thereby enhancing its status in the international monetary system [3]