浙商中拓经营管理部副总经理雷衍升：企业套保必须坚守风险对冲初心

Core Viewpoint - The 2025 China (Zhengzhou) International Futures Forum emphasizes the importance of establishing a robust internal control and risk management system for enterprises engaging in futures and derivatives trading [2] Group 1: Risk Management Framework - Enterprises should centralize the operation and management of futures and derivatives trading at the headquarters level, ensuring separation of key roles such as trading decision-making, order placement, risk control, compliance supervision, and market research [2] - A supervisory system for operational risks and a power balance mechanism should be established specifically for hedging activities, ensuring standardized operations in decision-making, authorization, and trading processes [2] - Enhancing the subjective initiative of operators at all levels is crucial for improving the enterprise's risk resistance in the futures market [2] Group 2: Trading Motivation and Behavior - The understanding of risk management influences trading motivation, which in turn determines trading behavior; poor trading motivation can amplify trading risks [2] - Enterprises must adhere to the original intention of risk hedging, focusing on the physical commodity market and avoiding speculative practices [2] - Accepting imperfect hedging and optimizing the hedging effect through refined management of basis is essential for effective risk management [2]