Core Insights - In May 2025, the national futures market in China experienced a decline in trading volume and value compared to the previous year, with a volume of 678,609,037 contracts and a transaction value of 54,729.881 billion yuan, representing a year-on-year decrease of 4.51% and 1.55% respectively [1] - Cumulatively, from January to May 2025, the national futures market recorded a total trading volume of 3,336,834,307 contracts and a total transaction value of 2,869,344.22 billion yuan, showing significant year-on-year growth of 15.61% and 21.33% [1] Summary by Category - **Trading Volume**: The trading volume in May 2025 was 678,609,037 contracts, which is a decrease of 4.51% year-on-year [1] - **Transaction Value**: The transaction value for May 2025 was 54,729.881 billion yuan, reflecting a year-on-year decline of 1.55% [1] - **Cumulative Performance**: For the first five months of 2025, the cumulative trading volume reached 3,336,834,307 contracts, an increase of 15.61% year-on-year, while the cumulative transaction value was 2,869,344.22 billion yuan, up 21.33% year-on-year [1]

Group 1 - The core viewpoint of the article highlights the significant growth in the national futures market in April 2025, with trading volume and value increasing year-on-year [1][2] - In April 2025, the national futures market recorded a trading volume of 809 million contracts and a trading value of 70.18 trillion yuan, representing year-on-year increases of 21.49% and 23.69% respectively [1] - From January to April 2025, the cumulative trading volume reached 2.658 billion contracts and the cumulative trading value was 232.2 trillion yuan, showing year-on-year growth of 22.19% and 28.36% [1] Group 2 - As of the end of April 2025, the national futures market's open interest was 41.9216 million contracts, reflecting a month-on-month decline of 20.26% but a year-on-year increase of 18.98% [2] - The trading activity in commodity futures remained robust, with significant growth in precious metals trading volumes due to the impact of U.S. tariff policies [6] - The oil and chemical sectors experienced a rebound in trading due to significant price fluctuations, while the textile and chemical fiber industry showed signs of recovery [6] Group 3 - Financial futures experienced a "price drop with increased volume" scenario, with all four stock index futures prices declining in April [7] - The declines in stock index futures were influenced by multiple factors, including a drop in the global manufacturing index and the impact of U.S. tariff policies on global trade [7][8] - Looking ahead, the futures and options market in China is expected to maintain a good growth trend in trading scale, with open interest likely to recover further in May [8]