Group 1 - The core viewpoint of the article is the upcoming launch of futures and options for coated printing paper on September 10, 2025, by the Shanghai Futures Exchange [1] - The coated printing paper industry is characterized by a significant market size, high standardization, stable product quality, and sufficient market competition, making it suitable as a futures underlying asset [5][37] - The production and consumption of coated printing paper in China are projected to be 948,000 tons and 871,000 tons respectively in 2024, with coated paper accounting for approximately 7% of the total paper and board production [10][21] Group 2 - The global production of coated paper in 2023 was approximately 45.72 million tons, a decrease of 5.1% year-on-year, representing 11.2% of the total global paper and board production [7] - The main production regions for coated paper are Asia, accounting for 66.2% of global production, followed by Europe (15.6%), North America (10.1%), and South America (5.8%) [7] - The production cost structure of coated printing paper indicates that pulp accounts for over 70% of production costs, significantly impacting pricing [26][29] Group 3 - The futures contract for coated printing paper will have a trading unit of 40 tons per contract, with a minimum price fluctuation of 2 yuan per ton and a daily price limit of ±4% [31] - The delivery method will be physical delivery, with a certification management system for deliverable products to ensure quality [5][33] - The introduction of coated printing paper futures and options is expected to enhance market liquidity, improve price discovery, and support the risk management needs of the paper industry [37]