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]

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]

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].

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].

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].

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]

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]

Core Viewpoint - The forum focused on how the futures market can empower the real economy and contribute to national development, emphasizing high-quality development practices and opportunities in the futures market [1][5]. Group 1: Futures Market Development - The China Securities Regulatory Commission (CSRC) reported that there are currently 131 listed commodity futures and options in the Chinese futures market, with a year-on-year increase of 12.2% in average daily trading volume for industrial clients in 2024 [3]. - The number of listed companies participating in hedging has increased for 11 consecutive years, indicating a growing integration of futures prices into the operational management of physical enterprises [3]. - The CSRC plans to promote the listing of important energy products like liquefied natural gas and expand the commodity index system to enhance the futures market's openness [3]. Group 2: Regional Support and Policy Initiatives - The Henan Provincial Financial Office has introduced various policies to support the high-quality development of the futures market, focusing on innovation and resource aggregation [3]. - Zhengzhou is positioning itself as a key hub for connecting domestic and international bulk commodity markets, with plans to support the Zhengzhou Commodity Exchange (ZCE) in launching more futures and options products [3][4]. - The ZCE aims to optimize market supply and enhance its service capabilities while expanding its high-level openness to build a world-class exchange [4][5]. Group 3: Practical Applications and Industry Feedback - The forum included discussions on various sub-forums, such as risk management for industrial enterprises and agricultural products, highlighting the practical applications of futures in different sectors [5]. - A representative from a grain and oil enterprise noted that the "futures + spot" model has significantly reduced risk management costs, expressing a desire for more region-specific products to provide precise risk management tools for small and medium-sized enterprises [5].

Core Viewpoint - The 2025 China (Zhengzhou) International Futures Forum highlighted the increasing importance of the futures market in managing risks amid global economic uncertainties, emphasizing its role in supporting the real economy and enhancing market service capabilities [1][2]. Group 1: Market Development and Service Capabilities - The futures market's service capabilities have been continuously enhanced, with a diverse range of products introduced, including polysilicon, casting aluminum alloy, pure benzene, and propylene, bringing the total number of listed commodity futures and options to 131 [1]. - The participation of industrial clients has significantly increased, with a 12.2% year-on-year growth in daily trading volume for industrial clients in 2024, and the total holding of major products by these clients exceeding 200 million tons [1]. Group 2: Price Influence and Market Integration - The influence of futures prices has been rising, with various hedging strategies being widely adopted in response to external uncertainties, and some products becoming reference points for international trade pricing [2]. - 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 Regulatory Focus - The China Securities Regulatory Commission (CSRC) plans to enrich product offerings 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 enhance the openness of the futures market by increasing the range of futures and options available to qualified foreign investors, thereby improving their participation [3]. - Continuous improvement of market services is a priority, with a focus on guiding leading enterprises to utilize the futures market effectively and supporting small and medium-sized enterprises in risk management [3].

Core Viewpoint - The forum highlighted the increasing importance of the futures market as a risk management platform amid global economic uncertainties, emphasizing its role in supporting the real economy and addressing external challenges [1][4]. Group 1: Futures Market Development - The futures market's service capabilities have been enhanced, with a total of 131 listed commodity futures and options, expanding its reach across various sectors of the national economy [1][2]. - The participation of industrial clients has increased, with a 12.2% year-on-year growth in daily trading volume for industrial clients in 2024, and the total holding of major products by these clients exceeding 200 million tons [1][2]. Group 2: Price Influence and Application - The influence of futures prices has grown, with various hedging strategies being widely adopted in response to external market conditions, and some products becoming references for international trade pricing [2][3]. - The number of foreign investors participating in domestic futures and options has expanded to 91, reflecting the ongoing opening-up of the futures market [2][3]. Group 3: Integration with National Development - The futures market is increasingly integrated into national development strategies, supporting rural revitalization and food security through innovative models like "insurance + futures" [2][4]. - The market also plays a crucial role in the high-quality development of the manufacturing sector, with 84 listed industrial products, accounting for 64% of total products, providing stability and security for supply chains [2][4]. Group 4: Future Directions - The China Securities Regulatory Commission plans to enrich product offerings, including the listing of important energy products like liquefied natural gas, to better meet market risk management needs [3][4]. - There will be a focus on high-level opening-up of the futures market, increasing the range of products available for qualified foreign investors, and enhancing their participation [3][4]. - Continuous improvement of market services is planned, with an emphasis on helping enterprises utilize the futures market for risk management [3][4].