Core Viewpoint - The Shanghai Clearing House recently held a conference on interbank credit derivatives, emphasizing the importance of contract-based credit derivatives in financial markets for pricing, risk management, and credit enhancement [1] Group 1: Conference Overview - The conference included representatives from 14 market institutions, such as the China Interbank Market Dealers Association, commercial banks, and securities companies [1] - Shanghai Clearing House presented on the development of contract-based credit derivatives and clearing services [1] - Representatives from SPDB and Guotai Junan Securities shared practical applications and trading strategies related to credit derivatives [1] Group 2: Importance of Credit Derivatives - Credit derivatives serve as crucial tools for price discovery, risk management, and credit enhancement, significantly impacting bond market pricing and risk management efficiency [1] - The Shanghai Clearing House plays a vital role in providing bilateral and central counterparty clearing services for credit derivatives, enhancing market infrastructure [1] Group 3: Future Directions - The Shanghai Clearing House plans to continue developing the credit derivatives market under the guidance of the People's Bank of China, focusing on market needs and collaboration with various parties [1] - There is an emphasis on product innovation, mechanism optimization, and expanding the business scope to support the high-quality development of the interbank credit derivatives market [1]