Core Viewpoint - Guangzhou Futures Exchange (GFEX) is positioned as China's first futures exchange focused on serving green development, with significant advancements in its product system and services for the green low-carbon transition [1][4]. Group 1: Product Development and Market Impact - GFEX has accelerated its layout around the new energy industry chain, establishing a futures system that includes key products such as industrial silicon, lithium carbonate, and polysilicon, enhancing market functions and price influence [1]. - The exchange has launched futures and options for industrial silicon, lithium carbonate, and polysilicon, achieving a steady increase in trading volume and open interest, with daily trading volumes exceeding 300,000 contracts for these products [1][2]. - The correlation between futures and spot prices is high, with industrial silicon and lithium carbonate showing a correlation of 0.99, and polysilicon at 0.94, indicating that futures trading has stabilized prices in the industry [2]. Group 2: New Product Launches - Platinum and palladium futures and options have been approved by the China Securities Regulatory Commission and are set to launch on November 27, highlighting their importance in green industries such as automotive emissions control and renewable energy [2]. - Approximately 60% of platinum and nearly 80% of palladium in China are used in automotive catalytic converters, indicating a stable market demand for these materials [2]. Group 3: International Influence and Participation - GFEX's lithium carbonate futures have become the largest and most liquid lithium salt product globally, with international trade enterprises using GFEX prices as a key pricing benchmark in forward contracts [3]. - The exchange has established regular communication with over 10 foreign exchanges and has introduced qualified foreign institutional investors for its listed products [3]. - Approximately 90 listed companies in the crystalline silicon photovoltaic and lithium battery new energy industry chain have issued hedging announcements related to GFEX products, with around 19,000 effective industry clients [3]. Group 4: Future Plans and Strategic Directions - GFEX has outlined three key directions for the 14th Five-Year Plan and future green transition needs: enriching the product system, enhancing market services and training, and promoting high-level openness to foreign participation [4]. - Plans include the development and launch of lithium hydroxide futures and options, as well as strategic products like carbon emission rights futures [4]. - The exchange aims to contribute to China's green development and financial strength by leveraging its unique role in price discovery, risk management, and resource allocation [4].
广州期货交易所党委委员、副总经理李慕春： 丰富完善品种体系 推进氢氧化锂期货及期权研发上市
Zheng Quan Shi Bao·2025-11-23 18:45