中国期货业协会会长杨光：以高水平开放推动期货市场服务国家战略

Core Viewpoint - The 2025 China (Zhengzhou) International Futures Forum emphasizes the importance of high-level openness in China's futures market to enhance its international competitiveness and influence [1][3]. Group 1: Market Overview - China's commodity futures market accounts for over 60% of the global total trading volume, maintaining a leading position for several consecutive years [1]. - The market's internationalization has been gradually improving, with significant achievements in recent years [3]. Group 2: Open Market Initiatives - Since the launch of the first foreign-invested futures product, crude oil futures, in 2018, there are now 24 specific futures products available for foreign participation, covering various sectors such as energy, metals, and agriculture [3]. - The removal of foreign ownership limits for futures companies by the China Securities Regulatory Commission has led to full foreign ownership by firms like JPMorgan Futures and UBS Futures [3]. Group 3: Global Expansion - As of June 2025, domestic futures companies have established 22 first-level subsidiaries, 39 second-level subsidiaries, and 6 third-level subsidiaries overseas, covering major global financial centers [3]. - These companies have obtained trading and clearing membership qualifications from major global commodity exchanges, enabling them to provide comprehensive financial and derivative services globally [3]. Group 4: Future Strategies - The China Futures Association aims to attract global traders by expanding the range of specific products available for foreign participation [5]. - The association will also focus on enhancing regulatory frameworks for cross-border transactions and ensuring compliance and orderly expansion of international business by futures companies [5]. - The forum's theme highlights the significance of achieving consensus within the futures industry to seize opportunities and deepen services in the current economic landscape [5].