从区域探索迈向全球布局，中国期货市场正以开放姿态重塑全球大宗商品定价逻辑，也日益深度融入全 球产业风险管理的图谱。 "十四五"时期，随着合格境外投资者可交易品种数量破百，"中国价格"的影响力正跨越地缘边界，扩大 至全球市场。这场品种扩容、规则对接的开放进程，不仅让"中国价格"成为跨境贸易的参考坐标，更催 生出适配全球产业的新型风险管理生态。当"中国价格"在国际市场获得更多定价共鸣时，中国期货市场 正以"定价之锚"的姿态，推动风险管理工具从虚拟数字走向产业实践，成为全球产业链稳健运行的温暖 护航者。 持续扩大开放 激活期货市场新动能 在我国期货市场双向开放的进程中，扩容对外开放品种，吸引更多境外交易者参与，是推动高水平对外 开放的重要环节。2022年9月，境内商品期货交易所公布了合格境外投资者可参与的41个商品期货和期 权品种，标志着合格境外投资者参与境内商品期货、期权交易的政策正式落地。截至今年10月底，合格 境外投资者可交易境内的期货和期权品种数量达到107个，境外交易者可以参与的国际化期货和期权品 种数量达到24个。 以2018年推出首个国际化品种——上海原油期货为起点，上期所面向境外投资者开放的特定品种 ...

从区域探索迈向全球布局，中国期货市场正以开放姿态重塑全球大宗商品定价逻辑，也日益深度融入全 球产业风险管理的图谱。 "十四五"时期，随着合格境外投资者可交易品种数量破百，"中国价格"的影响力正跨越地缘边界，扩大 至全球市场。这场品种扩容、规则对接的开放进程，不仅让"中国价格"成为跨境贸易的参考坐标，更催 生出适配全球产业的新型风险管理生态。当"中国价格"在国际市场获得更多定价共鸣时，中国期货市场 正以"定价之锚"的姿态，推动风险管理工具从虚拟数字走向产业实践，成为全球产业链稳健运行的温暖 护航者。 郑商所已有7个品种引入境外交易者，实现油脂油料全品种链条对外开放；合格境外投资者可交易范围 包含26个期货和期权品种，涵盖聚酯、油脂油料、化工等多个品种板块。截至2025年11月，共有来自33 个国家和地区的787个特定品种境外客户，以及来自12个国家和地区的186个合格境外投资者客户在郑商 所开户。 2025年10月28日夜盘交易时起，大商所将线型低密度聚乙烯、聚氯乙烯和聚丙烯月均价期货合约纳入合 格境外投资者可交易品种。至此，大商所以合格境外投资者模式对外开放的品种数量累计达到27个，以 特定品种模式对外开放的 ...

近年来，中国期货市场国际化进程稳步推进。作为国内最早成立的外资期货公司之一，瑞银期货不仅见 证中国期货市场走向世界，更深度参与其国际化进程。2022年10月11日，瑞银期货完成中国合格境外机 构投资者（QFII）、人民币合格境外机构投资者（RQFII）首单国内商品期货交易，成为首家支持QFII 参与境内商品期货市场的期货公司。此后，公司进一步拓展业务范围，提供连续交易服务、境外中介业 务及国债充抵保证金业务等。 2024年，瑞银期货在集团大中华区研讨会上设立期货专题，向数千名境外投资者系统推介中国期货市 场。2025年4月，瑞银集团完成对瑞银期货母公司瑞银证券的全资控股，瑞银证券成为首家外商独资全 牌照证券公司。近期，瑞银期货在《期货日报》与《证券时报》联合主办的"第十八届最佳期货经营机 构评选"中，凭借深耕国际化业务、领先风险管理体系及卓越QFII服务，荣膺"国际化进程新锐奖"。 据瑞银期货董事长张家荣介绍，作为国内六大期货交易所的会员，瑞银长期积极参与中国期货市场建设 与发展，服务境内外广大机构客户及专业投资者，充分发挥连接中国市场与境外投资者的桥梁作 用。"此次首笔业务的落地体现了中国市场多元性和开放性 ...

Group 1 - The launch of five new options, including fuel oil, asphalt, and pulp options, enhances the risk management capabilities of the industry chain and increases the number of tradable products for Qualified Foreign Investors (QFI) to 95 [1] - The recent expansion of QFI tradable products is expected to improve international competitiveness and contribute to the formation of a "China price," attracting global resources to participate in the market [1][2] - In the first half of the year, China's futures market added 45 new tradable futures and options, nearly doubling the total number to 91, with 83 in commodities and 7 in financials [1] Group 2 - The newly listed options are expected to meet the diverse needs of enterprises and enhance market liquidity and contract continuity, providing effective risk management during price volatility [2] - The Shanghai Futures Exchange aims to continuously improve its product system and promote high-level openness in the futures market, supporting the high-quality development of the real economy [2] - Expanding the QFI tradable product range is significant for the high-quality development of the futures industry, enhancing pricing power and optimizing risk management for various sectors [3]

Core Viewpoint - The expansion of the trading scope for qualified foreign institutional investors (QFII) in China's futures market is set to enhance the internationalization of the market and improve its investor structure, with a target to increase the number of tradable futures and options to 100 by 2025 [1][2]. Group 1: Market Expansion - The China Securities Regulatory Commission announced the inclusion of more products for foreign investors, aiming to expand the total number of QFII tradable futures and options to 100 [1]. - As of June 20, 2025, 16 new futures and options products will be available for qualified foreign investors, bringing the total to 91 [1]. - The newly added products include futures and options for glass, soda ash, silicon iron, ethylene glycol, liquefied petroleum gas, natural rubber, lead, and tin [1]. Group 2: Impact on the Industry - The introduction of new products is expected to optimize the investor structure in China's futures market and enhance its international influence [2]. - The expansion will provide better price signals for industries and meet the hedging needs of foreign clients, thereby improving the service to the real economy [2]. - The dual opening of the futures market and the introduction of new products will create new opportunities and challenges for futures companies [3]. Group 3: Strategic Responses - Futures companies are encouraged to leverage their strengths to adapt to the new internationalization opportunities [3]. - Companies can enhance their risk management services by providing trading services for new products to foreign clients, thus broadening their revenue channels [3]. - To serve qualified foreign investors effectively, futures companies need to improve their specialized service capabilities and enhance their authority in the industry [4].