Core Viewpoint - The article emphasizes the strategic opportunities and responsibilities of China's capital markets as they enter the "15th Five-Year Plan" period, focusing on high-quality development and reform initiatives across various exchanges [3][4][6]. Group 1: Shanghai Stock Exchange (SSE) - SSE aims to enhance market stability and investor confidence by improving risk monitoring and promoting high-quality listed companies through actions like dividend repurchases [4]. - The exchange will leverage the Sci-Tech Innovation Board as a testing ground for reforms, focusing on attracting resources to strategic emerging industries [4]. - SSE is committed to strengthening regulatory measures against fraud and enhancing investor protection through technology [4][5]. Group 2: Shenzhen Stock Exchange (SZSE) - SZSE plans to enhance its institutional adaptability to foster a high-quality listing environment, particularly for innovative companies [8][9]. - The exchange will promote coordinated development of investment and financing, encouraging companies to increase dividends and share buybacks [9]. - SZSE aims to strengthen its international presence by enhancing communication and cooperation within the Greater Bay Area and expanding its global outreach [9][10]. Group 3: Beijing Stock Exchange (BSE) - BSE expresses gratitude towards the Securities Times for its support in promoting market development and aims to enhance collaboration for capital market reform [13]. - The exchange emphasizes the importance of media in conveying market policies and fostering a positive environment for high-quality development [13]. Group 4: Dalian Commodity Exchange (DCE) - DCE focuses on enhancing its product offerings and risk management tools, successfully launching new futures and options to meet industry needs [26]. - The exchange is committed to expanding its international reach by increasing the number of products available to foreign investors [26][27]. - DCE aims to strengthen its governance and operational standards to align with international practices [26]. Group 5: Zhengzhou Commodity Exchange (ZCE) - ZCE emphasizes the importance of political leadership and regulatory compliance in maintaining market stability and supporting the real economy [20][21]. - The exchange plans to enhance its service capabilities by developing new products and expanding its role in supporting national strategies [21][22]. - ZCE aims to improve investor education and protection mechanisms to foster a more informed investment environment [22]. Group 6: Guangzhou Futures Exchange (GFE) - GFE is committed to promoting green development and supporting the transition to a low-carbon economy through innovative financial products [31][34]. - The exchange plans to enhance its market functions by introducing new green commodities and expanding its international partnerships [34][35]. - GFE aims to align its operations with national strategies for sustainable development and actively participate in global green finance initiatives [35][36].

"十五五"开局之际，八大交易所共同发声，擘画蓝图。 上交所：锚定"十五五"新征程 以改革创新之笔绘就资本市场高质量发展新图景 岁序更替，华章日新。2026年是"十五五"规划开局之年。未来5年是基本实现社会主义现代化夯实基 础、全面发力的关键时期，也是资本市场进一步迈向高质量发展的战略机遇期。立足新的历史方位，资 本市场肩负着更加精准有力服务社会主义现代化建设的时代使命。上海证券交易所将紧紧围绕职责定 位，以稳扎稳打的务实举措，推动新征程上资本市场改革发展稳定各项任务落地见效。 回望"十四五"时期，上交所聚焦防风险、强监管、促高质量发展主线，主动融入国家经济社会发展大 局，稳步推进世界一流交易所建设。目前，上交所已成为全球第三大股票市场、全球最大交易所债券市 场、亚洲第二大ETF市场，期权交易量也稳居全球同类产品前列。展望"十五五"，上交所将深入贯彻习 近平总书记关于金融工作的重要论述、指示批示精神，和党中央国务院决策部署，在中国证监会的坚强 领导和中央纪委国家监委驻中国证监会纪检监察组的有力监督下，坚守资本市场的政治性、人民性，坚 持稳中求进、提质增效，紧扣防风险、强监管、促高质量发展工作主线，系统谋划新时期 ...

Core Viewpoint - The article discusses the strategic plans and goals of various Chinese stock exchanges as they embark on the "15th Five-Year Plan" period, emphasizing the importance of high-quality development and the role of capital markets in supporting the modernization of the economy [2][5][10]. Group 1: Shanghai Stock Exchange (SSE) - SSE aims to enhance market stability and maintain a focus on risk prevention, regulatory strength, and promoting high-quality development [3][4]. - The exchange plans to leverage the Sci-Tech Innovation Board as a testing ground for reforms and to attract resources towards strategic emerging industries [4]. - SSE emphasizes the importance of strong regulatory measures to combat fraud and ensure investor protection [4][5]. Group 2: Shenzhen Stock Exchange (SZSE) - SZSE is committed to enhancing the adaptability of its systems to foster a high-quality listing environment and support innovative companies [8][9]. - The exchange aims to promote coordinated development of investment and financing, encouraging companies to increase dividends and share buybacks [9]. - SZSE plans to strengthen its international presence and enhance its role as a bridge for global investment [9][10]. Group 3: Dalian Commodity Exchange (DCE) - DCE focuses on expanding its product offerings and enhancing risk management tools to better serve the real economy [24][25]. - The exchange aims to improve its international influence by increasing the number of products available to foreign investors [24][25]. - DCE emphasizes the importance of regulatory compliance and market stability in its operations [24][25]. Group 4: Zhengzhou Commodity Exchange (ZCE) - ZCE is dedicated to enhancing its service to the real economy and supporting national strategies through its product offerings [19][20]. - The exchange plans to strengthen its regulatory framework and improve market communication to foster a healthy investment environment [21][20]. - ZCE aims to leverage technology to enhance its regulatory capabilities and ensure market stability [21]. Group 5: China Financial Futures Exchange (CFFEX) - CFFEX is focused on enhancing its service quality to the real economy while maintaining a strong regulatory framework [28][29]. - The exchange aims to promote long-term capital inflows and improve market resilience through effective risk management [28][29]. - CFFEX emphasizes the importance of collaboration with media to enhance market transparency and public trust [29]. Group 6: Guangzhou Futures Exchange (GFE) - GFE is committed to supporting green development and the transition to a low-carbon economy through its product offerings [30][33]. - The exchange plans to enhance its international cooperation and expand its influence in the global market [33][34]. - GFE aims to innovate its product lineup to better meet the needs of the emerging green economy [34].

辞旧迎新，新年肇始。中国期货业协会向《期货日报》广大读者和所有关心支持中国期货市场发展的各 界朋友，致以诚挚的节日问候和衷心的感谢！ 回望"十四五"时期，我国期货市场在服务实体经济高质量发展方面发挥了重要作用。期货和衍生品法的 颁布实施，为打造一个安全、规范、透明、开放、有活力、有韧性的资本市场提供了坚强的法治保障， 筑牢了行业发展根基。国务院办公厅转发的中国证监会等部门《关于加强监管防范风险促进期货市场高 质量发展的意见》构建了全方位、立体化的期货市场发展与监管布局。五年来，期货公司加速向专业 化、科技化的综合衍生品服务商转型，积极拓展场外衍生品、做市与风险管理业务，加快人工智能和大 数据在智能投研、风控合规等场景应用，提升运营效能。期货风险管理公司通过商品互换、基差交易等 定制化工具广泛服务产业，做市品种不断扩容，显著改善流动性与套保效果。"保险+期货"持续扩面提 质，覆盖生猪、大豆、苹果等品种，成为服务乡村振兴的重要抓手。期货行业正从通道型中介深度融入 实体经济，以更规范、高效、专业的姿态，服务中国式现代化。 "长风破浪会有时，直挂云帆济沧海。"2026年是"十五五"规划的开局之年，以习近平同志为核心的 ...

日月其迈，岁律更新。值此2026年到来之际，大连商品交易所谨向长期以来给予关心和支持的各界朋 友，致以诚挚的感谢和美好的新年祝福！ 2026年是"十五五"规划开局之年。大商所将继续在证监会党委领导下，深入贯彻党的二十届四中全会和 中央经济工作会议精神，坚持强化政治引领，科学编制"十五五"规划；突出严监严管导向，筑牢市场风 险防控屏障；坚守功能定位特色，持续深化产品创新与规则优化；提升服务实体质效，推动期货工具深 度融入实体经济；拓展对外开放层次，不断增强"大连价格"国际影响力；夯实科技支撑能力，加快推进 数字化转型。 一年来，我们聚焦主业、完善供给。顺利上市纯苯期货及期权，推出化工品月均价期货合约，持续丰富 风险管理工具箱。深化"一品一策"，合约规则与产业需求的适配性不断增强，品种运行质量显著提升。 一年来，我们强化监管、筑牢防线。深入贯彻落实《期货和衍生品法》，完善交易结算规则制度，加强 穿透式监管，健全风险监测预警机制，全力保障市场平稳健康运行。一年来，我们深耕产业、提升功 能。深入推进产业客户培育，产业参与度进一步提升。持续发挥"保险+期货"支农作用，推广"银期 保"模式至全国。期货价格更多应用于现货贸 ...

Core Viewpoint - The Dalian Commodity Exchange (DCE) expresses gratitude for support and outlines its achievements and future plans as it enters 2026, emphasizing its commitment to serving the real economy and enhancing market stability and functionality [1][2][3] Group 1: Achievements in 2025 - DCE successfully launched pure benzene futures and options, and introduced monthly average price futures contracts for chemical products, enhancing its risk management tools [2] - The exchange improved contract rules to better align with industry needs, resulting in significant quality enhancements in product operations [2] - Regulatory measures were strengthened, including the implementation of the Futures and Derivatives Law and the establishment of a comprehensive risk monitoring and early warning mechanism [2] - DCE increased participation from industry clients and promoted the "insurance + futures" model to support agriculture, expanding the influence of "Dalian prices" in spot trade pricing [2] - The number of trading varieties available to qualified foreign investors increased from 14 to 27, reflecting a continuous improvement in market internationalization [2] - The exchange completed a successful transition to a new main trading center and advanced its digital transformation to enhance service quality [2] Group 2: Future Plans for 2026 - In 2026, DCE aims to implement the spirit of the 20th Central Committee's Fourth Plenary Session and the Central Economic Work Conference, focusing on political guidance and scientific planning for the 15th Five-Year Plan [3] - The exchange will emphasize strict regulation and risk prevention, while continuing to innovate products and optimize rules to enhance service effectiveness for the real economy [3] - DCE plans to further expand its international presence and strengthen the global influence of "Dalian prices" [3] - The exchange is committed to bolstering its technological capabilities and accelerating its digital transformation [3] - DCE aims to contribute significantly to China's modernization and the construction of a strong financial nation through high-quality development and reform [3]

一年来，我们聚焦主业、完善供给。顺利上市纯苯期货及期权，推出化工品月均价期货合约，持续丰富 风险管理工具箱。深化"一品一策"，合约规则与产业需求的适配性不断增强，品种运行质量显著提升。 一年来，我们强化监管、筑牢防线。深入贯彻落实《期货和衍生品法》，完善交易结算规则制度，加强 穿透式监管，健全风险监测预警机制，全力保障市场平稳健康运行。一年来，我们深耕产业、提升功 能。深入推进产业客户培育，产业参与度进一步提升。持续发挥"保险+期货"支农作用，推广"银期 保"模式至全国。期货价格更多应用于现货贸易定价，"大连价格"影响力稳步增强。一年来，我们扩大 开放、深化联通。面向合格境外投资者新增开放聚丙烯等能源化工品种，合格境外投资者可参与交易品 种由14个拓展至27个，市场国际化水平持续提升。一年来，我们科技赋能、夯实基础。业务系统连续保 持安全平稳运行，顺利完成金普新区主交易中心切换，以数字化转型全面赋能服务提质增效。一年来， 我们强化作风、真抓实干。持续深化党的创新理论武装，深入开展中央八项规定精神学习教育，有力保 障各项中心任务扎实推进。 2026年是"十五五"规划开局之年。大商所将继续在证监会党委领导下，深入 ...

Group 1 - The futures market has listed a total of 148 futures and options products, with trading times organized for over a hundred products [3][5][12] - Specific trading times for various futures and options products are provided, including day and night sessions [6][7][8] - Certain products, marked as special varieties, require separate trading permissions to participate, such as soybean oil, PTA, and stock index futures [12] Group 2 - The introduction of foreign traders to palm oil options occurred on June 18, 2021, and to soybean options on December 26, 2022 [5] - Trading hours for different exchanges are detailed, including the Shanghai Futures Exchange and the Zhengzhou Commodity Exchange [6][7] - The document emphasizes the need for traders to understand the specific requirements for trading special products [11][12]