聚酯期货板块国际化获批，实现产业链协同开放

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has announced the inclusion of specific futures and options related to the polyester industry for foreign traders, aiming to enhance risk management and internationalization of the polyester sector [1][2]. Group 1: Regulatory Developments - The CSRC has determined that the Zhengzhou Commodity Exchange (ZCE) will allow foreign participation in futures and options for paraxylene (PX), bottle chips, short fibers, and purified terephthalic acid (PTA) [1]. - The ZCE has been gradually opening up the polyester sector, with PTA futures being the first chemical futures introduced to foreign traders since 2018, which has stabilized market operations and established PTA prices as a global reference for polyester trade [2]. Group 2: Industry Insights - China's polyester industry is the largest globally, with a projected capacity of 89.035 million tons by 2025, accounting for 60% to 70% of global production [1]. - The demand for diversified risk management strategies has increased due to price volatility in polyester products and accelerated overseas capacity expansion [1]. Group 3: Market Participation and Internationalization - Nearly 800 foreign clients from 33 countries and regions have opened accounts at the ZCE, and the exchange has signed memorandums of understanding with 12 foreign exchanges to facilitate the internationalization of the polyester sector [3]. - The internationalization of the polyester sector is expected to enhance the pricing mechanism and reduce harmful competition among domestic enterprises in international trade [3].