聚焦“期现联动”，上海提升有色金属大宗商品能级和国际化水平

Core Viewpoint - Shanghai aims to enhance the internationalization and resource allocation capabilities of the non-ferrous metal commodity market through the "Action Plan" which focuses on strengthening the linkage between futures and spot markets [1][4]. Group 1: Strategic Importance of Non-Ferrous Metals - Non-ferrous metals play an increasingly vital role in the national economy, especially with the growth of strategic emerging industries such as new energy vehicles, aerospace, and semiconductors [2]. - Shanghai has developed a linked market structure for non-ferrous metals, integrating futures, spot, and over-the-counter derivatives markets [2][3]. - The Shanghai Futures Exchange has listed 11 non-ferrous metal futures and 10 options, with some products gaining global pricing capabilities, positioning Shanghai among the top three global pricing centers for non-ferrous metals [2]. Group 2: Market Infrastructure and Services - The Shanghai Clearing House has established a framework for over-the-counter commodity derivatives trading and provides central counterparty clearing services for various products, enhancing risk management for non-ferrous metals [3]. - Local trading platforms like the Shanghai Nonferrous Metals Trading Center are pivotal in supporting the development of the non-ferrous metal spot market [3]. Group 3: Action Plan Measures - The "Action Plan" includes 18 measures aimed at promoting the interconnectivity of the non-ferrous metal market, enhancing the efficiency and safety of settlement processes, and encouraging participation from various industries [4][5]. - It emphasizes the need to improve the internationalization of the non-ferrous metal market and enhance the influence of "Shanghai prices" through high-level institutional openness and cross-border delivery mechanisms [4]. - The plan also focuses on cultivating a competitive ecosystem for non-ferrous metal trading, promoting collaboration across the supply chain, and leveraging blockchain technology for data sharing [5].