本报记者 王宁 日前，中国期货业协会发布最新数据显示，截至8月末，全国150家期货公司当月代理交易额65.23万亿 元，代理交易量8.95亿手，营业收入38.61亿元，净利润12.34亿元。其中，营业收入同比增长超三成， 净利润同比增长138.68%。 "8月份期货公司营业收入和净利润同比取得显著增长，是多重因素共振的结果。"国元期货总经理助理 徐迪对《证券日报》记者表示，首先，市场活跃度提升，金融期货成为增长引擎；其次，风险管理和资 产管理业务比重显著增长，实体企业避险需求持续提升；最后，期货公司自有资金投资收益向好。 今年以来，不仅是期货公司，期货市场整体在规模、结构和质量上均有较大改善，行业整体保持高速增 长态势。 柳瑞则表示，四季度，该公司将在政策支持、市场转型、服务创新、稳健运营等方面进一步发力，全力 推动业绩增长和市场服务能力的提升。具体包括：一是巩固经纪业务发展质效，通过精准制定激励政 策、优化客户结构等方式巩固业务基本盘。二是加大业务转型力度，推动资产管理业务向"效益+规 模"转变，发挥资管业务成为其他业务"中继站""放大器"的功能。三是强化服务实体经济能力，通过金 融科技深度融合和数字化转型 ...

Core Viewpoint - The launch of the "Hundred Schools and Ten Thousand Talents" project at Zhejiang University aims to enhance the integration of industry, academia, and research in the futures and derivatives field, providing systematic education for students and nurturing new talent to serve the real economy [1][4]. Group 1: Project Overview - The project is supported by the Dalian Commodity Exchange and co-hosted by Zheshang Futures and Wuzhou Zhongda Futures, focusing on risk management and practical applications in the futures market [1][4]. - The curriculum is designed collaboratively by Zheshang Futures and Wuzhou Zhongda Futures, covering essential topics such as futures fundamentals, options trading strategies, risk management, and enterprise applications [4]. Group 2: Industry Insights - Industry leaders emphasize the growing demand for high-quality talent in the AI era, indicating that the project aims to attract more students to research and apply their knowledge in the futures industry [2]. - The futures industry is seen as having significant opportunities, with a focus on risk management as its primary function, which is closer to the real economy compared to securities [2][3]. Group 3: Educational Activities - The first lecture, led by Dalian Commodity Exchange's assistant director, provided an overview of the current state and functions of the futures market, emphasizing the importance of understanding the entire industry chain [3]. - The project includes plans for industry research, insurance activities, and student exchanges to strengthen the connection between academia and industry [4].

人民财讯9月16日电，今年以来，期货市场延续良好的发展态势。无论是资金总量、成交持仓水平，还 是期货资管规模，都呈现出持续的增长。其中，期货市场资金总量突破1.9万亿元，再创历史新高；期 货资管规模则较去年底增长近700亿元，增幅超20%；前8个月，市场成交额、成交量、持仓量同比增幅 均在20%左右。各项数据显示，期货市场在服务实体经济、提升风险管理方面的能力不断提升，行业发 展迈上新台阶。 ...

Core Insights - The latest statistics from the China Futures Association indicate significant growth in the national futures market for August, with a trading volume of 839 million contracts and a trading value of 6.508 trillion yuan, representing year-on-year increases of 13.98% and 21.38% respectively [1] - Cumulatively, from January to August, the national futures market recorded a total trading volume of 5.974 billion contracts and a total trading value of 47.612 trillion yuan, with year-on-year growth rates of 21.74% and 22.85% [1] Trading Volume and Value by Exchange - The top three futures products by trading value are: - Shanghai Futures Exchange: Gold, Silver, Crude Oil - Zhengzhou Commodity Exchange: Soda Ash, Glass, Rapeseed Oil - Dalian Commodity Exchange: Coking Coal, Palm Oil, Soybean Meal - Guangzhou Futures Exchange: Polysilicon Futures, Lithium Carbonate Futures, Industrial Silicon Futures [1] - The top three futures products by trading volume are: - Shanghai Futures Exchange: Rebar, Hot-Rolled Coil, Fuel Oil - Zhengzhou Commodity Exchange: Soda Ash, Glass, PTA - Dalian Commodity Exchange: Coking Coal, Soybean Meal, Polyvinyl Chloride - Guangzhou Futures Exchange: Lithium Carbonate Futures, Polysilicon Futures, Industrial Silicon Futures [1] Financial Futures and Options - The trading volume of financial futures options at the China Financial Futures Exchange reached 30.648 million contracts, accounting for 3.65% of the national market, with a trading value of 25.76 trillion yuan, representing 39.58% of the national market [1] - The top three products by trading value in financial futures are: CSI 1000 Index Futures, 30-Year Treasury Bond Futures, and CSI 300 Index Futures [1] Futures Options Listing - As of the end of August 2025, there are a total of 152 listed futures options products in China [2]

Core Insights - The Asia-Pacific region is undergoing a significant economic transformation that will impact the global financial landscape and create numerous opportunities in the futures and options markets [1][2] - China is expected to maintain its position as a global economic engine, contributing 20% to global GDP by 2035, while South Asia is projected to surpass Germany's GDP by 2030, indicating strong growth potential [1][2] - The rapid expansion of the middle class in the Asia-Pacific region is driving demand for various products and risk management tools, which will further stimulate the development of the derivatives market over the next 5 to 10 years [2] Industry Developments - China's futures market has shown robust and stable growth over the past 15 years, focusing on serving the real economy and developing a unique systematic approach [2] - The development of China's futures market is seen as a key highlight for the Asia-Pacific derivatives industry, providing a solid platform for expanding regional influence and aiding international institutions like CME Group in their global strategies [2] - China's leadership in the futures industry is extending its influence globally, with hopes to assist the development of futures markets in other developing countries, fostering a more interconnected and resilient global financial environment [3]

Core Insights - The latest statistics from the China Futures Association indicate significant growth in the national futures market for July, with a trading volume of 1.059 billion contracts and a trading value of 71.31 trillion yuan, representing year-on-year increases of 48.89% and 36.03% respectively [1] Trading Volume and Value - The top three futures products by trading value are: - Shanghai Futures Exchange: Gold, Silver, Crude Oil - Zhengzhou Commodity Exchange: Soda Ash, Glass, Caustic Soda - Dalian Commodity Exchange: Coking Coal, Palm Oil, Soybean Meal - Guangzhou Futures Exchange: Polysilicon Futures, Lithium Carbonate Futures, Industrial Silicon Futures [1] - The top three futures products by trading volume are: - Shanghai Futures Exchange: Rebar, Silver, Hot-Rolled Coil - Zhengzhou Commodity Exchange: Glass, Soda Ash, PTA - Dalian Commodity Exchange: Coking Coal, Soybean Meal, PVC - Guangzhou Futures Exchange: Industrial Silicon Futures, Polysilicon Futures, Lithium Carbonate Futures [1] Financial Futures and Options - The trading volume of financial futures options at the China Financial Futures Exchange reached 25.1599 million contracts, accounting for 2.38% of the national market, with a trading value of 2.064 trillion yuan, representing 28.95% of the national market [1] - The top three products by trading value in financial futures are: CSI 1000 Index Futures, 30-Year Treasury Bond Futures, and CSI 300 Index Futures [1] Overall Market Performance - From January to July, the cumulative trading volume and value of the national futures market increased by 23.11% and 23.09% year-on-year respectively [1] - As of the end of July 2025, there are a total of 152 listed futures and options products in China [1]

Group 1 - The training program aims to enhance risk management capabilities of state-owned enterprises and listed companies in Beijing, focusing on practical applications of futures market tools [1][2][3] - The event was attended by over 150 executives and department heads from state-owned enterprises and listed companies involved in commodity trading [1][2] - The training covered key topics such as the current macroeconomic environment, internal control systems for futures market participation, and compliance in financial handling of derivatives [1][4][5] Group 2 - The Beijing Securities Regulatory Bureau emphasized the importance of utilizing futures tools for enterprises amid increasing global economic uncertainties [2][3] - The China Futures Market Monitoring Center highlighted the significant growth in the number of futures and options products, with 152 listed, covering major sectors of the national economy [3] - The training also addressed the rising participation rate in hedging activities, with 1,503 listed companies publishing hedging announcements in 2024, a year-on-year increase of 14.65% [3] Group 3 - The training included discussions on the challenges of internal control in hedging practices, proposing a comprehensive risk management framework [4] - A focus was placed on the necessity of digital systems for effective risk management, moving away from traditional record-keeping methods [4] - The training was seen as a collaborative effort among regulatory bodies, exchanges, and industry organizations to support the high-quality development of the futures market [5][6] Group 4 - The event was perceived positively by participants, who found the content relevant and practical for their operational needs [7] - The successful execution of the training is expected to deepen the integration of the futures market with the real economy, enhancing business resilience [7]

Core Insights - The futures industry is experiencing steady growth, with significant performance differentiation among companies, highlighted by the impressive growth of Zhongcai Futures, which has become a model for the industry [1][3][4] Industry Performance - In the first half of 2025, over 150 futures companies achieved a net profit of 5.074 billion yuan, a year-on-year increase of 32%, and operating revenue of 18.676 billion yuan, up 3.89% [1] - The trading volume and value in the national futures market increased significantly, with a total trading volume of 4.076 billion contracts and a trading value of 339.73 trillion yuan, representing year-on-year growth of 17.82% and 20.68% respectively [2] - The participation of private equity funds in the futures market reached a record high, growing by 15% compared to the end of the previous year [2] Company Strategies - Zhongcai Futures reported a net profit of 690 million yuan, a staggering increase of 376%, and operating revenue of 980 million yuan, up 303% [3][5] - The company's success is attributed to its strong research capabilities, effective team collaboration, and a robust client resource ecosystem supported by its parent company [5][6] - The shift from traditional brokerage income to a diversified revenue model, including proprietary investments and asset management, has been crucial for profit growth [2][3] Competitive Landscape - The industry is undergoing a strategic transformation from traditional brokerage services to diversified, high-value financial services, leading to increased profit margins for leading firms [3][7] - Larger firms are expected to maintain their competitive edge due to their capital strength, brand recognition, and advanced research capabilities, while smaller firms face increasing pressure [7][10] - Companies are encouraged to focus on differentiated services and niche markets to survive in a competitive environment [7][10] Future Outlook - The internationalization of the futures industry is expected to accelerate, providing broader development opportunities while raising the bar for operational capabilities [8] - The trend towards mixed operations and collaboration with other financial institutions will likely expand the business scope of futures companies [8][10] - Companies must leverage technology and enhance their service offerings to meet evolving market demands and investor needs [9][10]