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引领全球定价新秩序 共探期市开放新征程
Qi Huo Ri Bao·2025-08-20 00:34

Core Insights - The 2025 China (Zhengzhou) International Futures Forum focuses on the high-level opening of China's futures market and its future prospects [1][3] - The forum emphasizes the importance of expanding the futures market's openness to enhance international competitiveness and support the national economy [3][4] Industry Perspectives - Yang Guang, President of the China Futures Association, highlighted that high-level openness in the futures market is crucial for linking domestic and international markets, with China's commodity futures market accounting for over 60% of global trading volume [3] - The Zhengzhou Commodity Exchange (ZCE) aims to enhance its international competitiveness and influence while serving the high-quality development of the real economy through systematic openness [4] Global Market Dynamics - Tim Smith from the CME Group stressed the importance of risk management amid increasing market volatility, indicating that China's futures market must innovate to meet the complex risk management needs of various institutions [6] - Gareth Lamb from GSK noted that despite uncertainties, global trade growth remains promising, with China accounting for 29% of global bottle demand, driving the need for stable risk management tools [6] Competitive Strategies - The forum discussed the necessity of differentiated competition among futures firms, with companies like COFCO Futures and Dongzheng Futures focusing on unique service offerings and international expansion [10][11] - UBS Futures emphasized a differentiated development strategy, leveraging its international platform to explore suitable business models in the context of China's futures market opening [11] Future Opportunities - The forum underscored the potential for China's futures market to play a more significant role in global commodity pricing and risk management as market openness deepens [8][10] - Industry leaders expressed confidence in the future of China's futures market, aiming to bridge international clients with the domestic market [11]