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宏源期货董事长谢鲲:提升综合实力 助力期市高质量发展
Qi Huo Ri Bao Wang· 2025-10-09 18:20
去年9月,国务院办公厅转发中国证监会等部门《关于加强监管防范风险促进期货市场高质量发展的意 见》(下称《意见》),描绘了我国期货市场中长期发展的新蓝图,标志着我国期货市场迎来了高质量 发展的新时代。 三是国际化进程加快。在政策支持与境外需求的驱动下,境外业务有望成为期货公司重要的增长极。期 货公司通过提升跨境服务能力,在满足我国企业"走出去"的风险管理需求的同时,国际业务也成为期货 公司新的业绩增长点。 二是坚持推进业务转型升级,持续提升核心竞争力。《意见》着力提升中介机构综合实力和国际竞争 力,并提出要完善商品期货市场品种布局、提高金融期货和衍生品发展水平、持续扩大高水平制度型开 放,为期货公司做大做优做强提供了新的方向和机遇。宏源期货坚持以客户为中心,持续提升专业化综 合服务能力,积极探索创新期货和衍生品服务模式,整合业务资源,提供多样化、定制化的服务方案, 精准对接实体企业、金融机构的风险管理需求。2025年1—9月,公司累计服务产业客户同比增长13%, 产业客户权益同比增长14%,客户权益创历史新高。 三是夯实全面风险管理体系,筑牢安全风险底线。《意见》对期货市场防范风险作出了明确要求,提出 要巩固期 ...
中粮期货副总经理杨英辉:落实《意见》要求 推动期市对外开放
Qi Huo Ri Bao Wang· 2025-10-09 00:45
"国办转发《意见》一周年"系列报道之一 编者按:2024年9月30日,国务院办公厅转发中国证监会等部门《关于加强监管防范风险促进期货市场 高质量发展的意见》(简称《意见》)。在《意见》发布一周年之际,本报推出"国办转发《意见》一 周年"系列报道,展现期货经营机构深入贯彻落实《意见》要求,促进期货市场高质量发展的务实举措 和经验成效,敬请关注。 "八方面17项重点工作,《意见》字里行间透露着党和政府对期货市场发展的高度重视。"中粮期货副总 经理杨英辉近日在接受期货日报记者采访时表示,一年来,中粮期货牢牢把握期货市场发展的正确政治 方向,以务实举措把《意见》的具体要求落实到期货经营机构工作的各方面各环节。 一是强化产业服务能力,提升服务实体经济质效。中粮期货作为国内领先的产业特色衍生品金融服务公 司,始终坚守期货服务实体经济的初心使命,坚定不移地打造"产业特色",服务实体经济。公司始终坚 定服务主责主业,立足服务已有合作的中粮集团专业化公司及交割库,完善中粮集团专业化公司上下游 产业链交流、区域专题会议等平台,引导交易所政策资源、市场资源导入。此外,强化交割结果导向, 服务模式由被动执行转为主动接入,增强客户黏性 ...
推动液化天然气等重要能源品种上市
Zheng Quan Ri Bao· 2025-08-21 06:19
Core Viewpoint - The Chinese futures market has made significant progress in enhancing its service capabilities, price influence, and integration into national development, thereby supporting the stable operation of the real economy and addressing external risks [1][2]. Group 1: Market Development and Service Capabilities - The futures market's service capabilities have been continuously enhanced, with a richer variety of products and tools introduced, including important futures varieties like polysilicon and aluminum alloy since the end of last year [1]. - The participation of industrial clients has increased, with a 12.2% year-on-year growth in daily trading volume from industrial clients in 2024, and the total holding of 48 major varieties by industrial clients exceeding 200 million tons [1]. - The number of listed companies participating in hedging has maintained growth for eleven consecutive years [1]. Group 2: Price Influence and Market Integration - The influence of futures prices has been steadily increasing, with the opening up of the futures market allowing for more foreign participation, expanding the number of futures and options available to qualified foreign investors to 91 [1]. - Among the listed commodity futures and options, 84 are industrial products, accounting for 64%, providing strong support for the stability of manufacturing-related market entities amid increasing uncertainties [1]. Group 3: Future Directions and Strategic Focus - The China Securities Regulatory Commission (CSRC) aims to enhance service capabilities and levels, focusing on supporting the real economy and national strategies [2]. - Key future initiatives include enriching product supply by promoting the listing of important energy varieties like liquefied natural gas, and expanding the coverage of futures and derivative tools [2]. - The CSRC plans to advance high-level opening of the futures market, increasing the range of futures and options available for foreign investors [2]. - There will be a focus on improving market services, guiding leading enterprises to utilize the futures market effectively, and supporting small and medium-sized enterprises in risk management [2]. - The industry will enhance research-driven development to improve futures market research capabilities, addressing the needs of the national strategy and real economy [3].
护航实体 “链”动全球(2025中国(郑州)国际期货论坛)
Sou Hu Cai Jing· 2025-08-21 03:34
Core Insights - The 2025 China (Zhengzhou) International Futures Forum focused on empowering the real economy and enhancing the quality development of the futures market [5][6][7] - The forum highlighted the increasing influence of "Zhengzhou prices" in global commodity pricing, with the Chinese futures market expanding its internationalization efforts since 2018 [5][9] Group 1: Forum Overview - The forum took place on August 19-20, 2025, gathering industry elites to explore innovative risk management paths and provide new ideas for real enterprises facing complex environments [6][7] - The main theme was "Empowering the Real Economy and Supporting National Construction," featuring multiple sub-forums focused on various sectors [7][8] Group 2: Market Developments - Since the end of last year, new futures products such as polysilicon, casting aluminum alloy, pure benzene, and propylene have been launched, expanding the market's service capabilities [8] - As of now, there are 131 listed commodity futures and options in China, with a 12.2% year-on-year increase in daily trading volume from industrial clients in 2024 [8] Group 3: Internationalization Efforts - The Chinese futures market accounts for over 60% of global trading volume, with ongoing efforts to enhance international competitiveness and influence [12][13] - Zhengzhou Commodity Exchange has introduced foreign traders to oilseed products, with nearly 800 foreign clients opening accounts [12] Group 4: Risk Management Innovations - The forum emphasized the importance of risk management for enterprises, with a growing trend of listed companies utilizing derivatives to manage risks related to commodity prices, exchange rates, and interest rates [14] - A comprehensive risk management framework is being developed to assist enterprises in navigating market challenges and enhancing competitiveness [15] Group 5: Sector-Specific Discussions - The agricultural products forum focused on enhancing the resilience of the agricultural supply chain, while the industrial products forum discussed innovations in risk management within the chemical industry [8][16] - The polyester forum highlighted the establishment of a risk management tool system for the polyester industry, which has become a benchmark for high-quality development in the futures market [18][19] Group 6: Future Outlook - Zhengzhou Commodity Exchange plans to continue developing new futures products and expand its international offerings, aiming to enhance its global pricing influence [10][20] - The forum concluded with a strong commitment to supporting national strategies and empowering the real economy through the futures market [10][11]
2025中国(郑州)国际期货论坛丨从郑州出发——护航实体 链动全球
He Nan Ri Bao· 2025-08-20 23:30
Core Insights - The 2025 China (Zhengzhou) International Futures Forum highlighted the increasing influence of "Zhengzhou prices" in the global market, showcasing the integration of futures markets with the real economy [2][4][6] - The forum focused on risk management innovations and strategies for enterprises to navigate complex economic environments, emphasizing the importance of futures in enhancing operational resilience [3][5][12] Group 1: Forum Overview - The forum took place on August 19-20, 2025, and served as a significant event for the global futures industry, gathering industry leaders to explore innovative risk management paths [3][4] - The main theme was "Empowering the Real Economy to Support National Strength Construction," with multiple sub-forums addressing various sectors [4][5] Group 2: Key Discussions and Themes - Keynote speakers included prominent figures discussing the outlook for China's high-quality economic development and the evolution of the futures and derivatives industry [4][5] - The forum featured discussions on enhancing agricultural supply chain resilience and innovative risk management in the chemical industry [5][12] Group 3: Market Developments - Since the end of last year, new futures products such as polysilicon and aluminum alloy have been introduced, expanding the range of available futures and options to 131 [5][19] - The participation of industrial clients in the futures market has increased, with a 12.2% year-on-year growth in daily trading volume for industrial clients in 2024 [5] Group 4: Future Directions - The Zhengzhou Commodity Exchange plans to advance the development of new futures products and expand its international cooperation, aiming to enhance its global pricing influence [8][11] - The forum underscored the commitment to high-level opening-up of the futures market, which is seen as essential for improving market structure and enhancing international competitiveness [10][11] Group 5: Sector-Specific Insights - The agricultural forum focused on the importance of oilseed safety as a critical component of food security, discussing strategies to stabilize planting areas and manage price risks [14][15] - The industrial forum highlighted the development of a comprehensive risk management toolset for the polyester industry, which has become a benchmark for futures markets in supporting high-quality economic development [17][18]
2025中国(郑州)国际期货论坛在郑州举行
Qi Huo Ri Bao Wang· 2025-08-20 20:14
Core Viewpoint - The 2025 China (Zhengzhou) International Futures Forum highlighted the significant advancements in China's futures market, emphasizing its role in supporting the real economy and enhancing risk management capabilities amid external challenges [2][4]. Group 1: Market Development and Performance - The futures market in China has seen a notable increase in service capabilities, with 131 listed commodity futures and options, broadening its reach across various sectors of the national economy [2]. - The participation of industrial clients in the futures market has grown, with a 12.2% year-on-year increase in daily trading volume for industrial clients in 2024, and a continuous rise in the number of listed companies engaging in hedging for 11 consecutive years [2]. - The influence of futures prices has strengthened, with various hedging and trading strategies becoming integral to the operational management of spot enterprises [2]. Group 2: Future Directions and Regulatory Focus - The China Securities Regulatory Commission (CSRC) plans to enhance product offerings by promoting the listing of key energy futures like liquefied natural gas and expanding the futures and derivatives tool coverage [3]. - The CSRC aims to advance high-level market openness by increasing the range of futures and options available for qualified foreign investors, thereby improving their participation in the Chinese futures market [3]. - Efforts will be made to deepen market services, guiding leading enterprises to utilize the futures market effectively and supporting small and medium-sized enterprises in risk management [3]. Group 3: Regional and Institutional Support - The Henan Provincial Government is committed to fostering the development of the futures market through various policies, focusing on innovation and the integration of financial and industrial resources [4]. - Zhengzhou is positioning itself as a crucial hub for domestic and international commodity markets, aiming to enhance the international influence of "Zhengzhou prices" and support the global resource allocation [4]. - The Zhengzhou Commodity Exchange (ZCE) is dedicated to optimizing market supply and enhancing its functions to better serve the modernization of China and the construction of a financial powerhouse [5]. Group 4: Forum Highlights and Themes - The forum's theme, "Empowering the Real Economy to Assist National Strength Construction—Practical Opportunities for High-Quality Development of the Futures Market," reflects the focus on integrating futures market advancements with national economic strategies [6]. - Key speakers at the forum discussed topics such as the outlook for high-quality economic development in China and the evolution of the global derivatives market [6].
强监管防风险促高质量发展 期货市场持续做好五方面工作
Zheng Quan Shi Bao· 2025-08-20 18:39
Core Viewpoint - The 2025 China (Zhengzhou) International Futures Forum emphasizes the increasing importance of the futures market in managing risks amid global economic uncertainties, with a focus on enhancing service capabilities to support the real economy and national strategies [1]. Group 1: Regulatory and Development Initiatives - The China Securities Regulatory Commission (CSRC) plans to enhance product offerings by promoting the listing of important energy varieties like liquefied natural gas and improving the commodity index system to better meet market risk management needs [1][2]. - The CSRC aims to advance high-level opening of the futures market by implementing key measures for capital market openness by 2025, increasing the range of futures and options available for qualified foreign investors [1][2]. - The CSRC will deepen market services by improving industry service models and supporting small and medium enterprises in utilizing futures for risk management [2]. Group 2: Market Participation and Growth - The domestic futures market has seen a significant increase in participation, with a 12.2% year-on-year growth in daily trading volume from industrial clients in 2024, and over 2 billion tons of market scale represented by the positions of 48 major products [3]. - Zhengzhou Commodity Exchange has listed 47 products, providing a comprehensive toolset for risk management across various sectors, with significant participation from key industries [3]. - The futures prices of several products, such as cotton and urea, have become important references for national macroeconomic policy formulation [3]. Group 3: Internationalization and Collaboration - Zhengzhou Commodity Exchange has opened 26 futures and options products to qualified foreign investors, ranking second in the country for the number of open products, with nearly 170 QFI clients from 12 countries and regions [4]. - The exchange is actively working on international product development and aims to expand the range of tradable products for QFIs, including the overall opening of the polyester futures sector [4].
中国证监会期货监管司副司长王颖:推动液化天然气等重要能源品种上市
Zheng Quan Ri Bao· 2025-08-20 16:47
Core Viewpoint - The Chinese futures market has made significant progress in enhancing its service capabilities, price influence, and integration into national development, contributing to the stability of the real economy amidst external risks [1][2]. Group 1: Market Development and Service Capabilities - The futures market's service capabilities have been continuously strengthened, with a rich variety of new futures products launched since the end of last year, including polysilicon, casting aluminum alloy, pure benzene, and propylene [1]. - The participation of industrial clients has increased, with a 12.2% year-on-year growth in daily trading volume from industrial clients in 2024, and the total holding of 48 major products by industrial clients exceeding 200 million tons [1]. - The number of listed companies participating in hedging has maintained growth for eleven consecutive years [1]. Group 2: Price Influence and Market Integration - The influence of futures prices has been enhanced, with an expansion in the number of foreign investors participating in domestic futures and options, now totaling 91 products [1]. - The futures market has integrated into the national development framework, with 84 listed commodity futures and options being industrial products, accounting for 64% of the total, providing solid support for the stability of manufacturing-related market entities [1]. Group 3: Future Directions and Strategic Focus - The China Securities Regulatory Commission (CSRC) aims to further enrich product offerings by promoting the listing of important energy products like liquefied natural gas and improving the commodity index system [2]. - The CSRC is committed to advancing high-level opening of the futures market, increasing the range of products available for foreign investors, and enhancing their participation convenience [2]. - There is a focus on deepening market services, guiding leading enterprises to utilize the futures market effectively, and supporting small and medium-sized enterprises in risk management [2]. - The industry aims to enhance the professional capabilities of institutions, innovate business and product offerings, and provide tailored services to various types of enterprises [2][3].
证监会王颖:推动液化天然气等重要能源品种上市
Guo Ji Jin Rong Bao· 2025-08-20 15:46
Core Viewpoint - The 2025 China (Zhengzhou) International Futures Forum emphasizes the role of the futures market in empowering the real economy and supporting national development through high-quality practices and opportunities. Group 1: Market Development and Participation - The futures market's service capability is continuously enhancing, with 131 listed commodity futures and options, broadening its reach across various sectors of the national economy [1] - The daily trading volume of industrial clients in the futures market increased by 12.2% year-on-year in 2024, with the number of listed companies participating in hedging growing for 11 consecutive years [1] Group 2: Price Influence and Market Integration - The influence of futures prices is increasing, with various forms of hedging, arbitrage, and rights trading being widely adopted, integrating deeply into the operational management of spot enterprises [1] - The futures market is increasingly integrated into national development strategies, supporting rural revitalization and ensuring food security through innovative models like "insurance + futures" [2] Group 3: Future Directions and Strategic Focus - The China Securities Regulatory Commission (CSRC) plans to enhance product supply by promoting the listing of important energy products like liquefied natural gas and expanding the coverage of futures and derivative tools [3] - The CSRC aims to advance high-level opening of the futures market by increasing the range of specific products and qualified foreign investors participating in domestic futures and options trading [3] - There is a focus on improving market services, encouraging leading enterprises to utilize the futures market effectively, and supporting SMEs in risk management through specialized subsidiaries [3] - The industry will enhance professional capabilities and innovate products to provide tailored services for different types of enterprises [3] - Research-driven development will be strengthened to align with national strategies and the needs of the real economy, enhancing the futures market's research capabilities [3]
赋能实体经济 丰富开放路径 各界共话期货业高质量发展“郑州方案”
Core Insights - The 2025 China (Zhengzhou) International Futures Forum focused on enhancing the global influence of China's futures pricing and risk management strategies, aiming to stabilize global supply chains [1] - The China Securities Regulatory Commission (CSRC) highlighted the orderly progress and significant achievements in the futures market, emphasizing its role in supporting the real economy and managing external risks [2] Group 1: Market Development - The futures market in China has seen an increase in service capabilities, with 131 listed commodity futures and options, reflecting a broader impact on the national economy [2] - Participation in hedging by listed companies has grown for eleven consecutive years, indicating a rising engagement from industrial clients [2] - The influence of futures prices has strengthened, with various trading strategies like hedging and arbitrage becoming widely adopted [2] Group 2: Regulatory and Strategic Initiatives - The CSRC plans to enhance product offerings, promote high-level market openness, deepen market services, improve industry professional capabilities, and strengthen research-driven development [2] - Zhengzhou is positioning itself as a key hub for domestic and international commodity markets, with plans to increase the international influence of "Zhengzhou prices" [3] Group 3: Future Directions - Zhengzhou Commodity Exchange (ZCE) aims to optimize market supply and enhance the functionality of the futures market to support China's modernization and financial strength [3] - The ZCE will focus on developing new futures products, including sunflower seed oil and other commodities, while exploring more short-term options [4] - The forum featured discussions on various topics, including international cooperation and risk management in industries such as agriculture and industrial products [4]