Core Viewpoint - The listing date for the Sci-Tech 50 stock index futures is currently undetermined, with the market awaiting official announcements regarding its launch [2]. Group 1: Listing Information - The Sci-Tech 50 ETF was launched on November 16, 2020, on the Shanghai Stock Exchange, including four funds: Huaxia Sci-Tech 50 ETF, E Fund Sci-Tech Board 50 ETF, Huatai-PB Sci-Tech Board ETF, and ICBC Credit Suisse Sci-Tech ETF [2]. Group 2: Differences Between Sci-Tech 50 and SSE 50 Index Futures - The underlying index of the Sci-Tech 50 index futures consists of 50 large-cap, liquid technology innovation companies from the Sci-Tech Board, focusing on emerging industries like semiconductors and biomedicine, highlighting growth attributes [4]. - The SSE 50 index futures are based on the SSE 50 index, which includes 50 large-cap, liquid blue-chip stocks primarily from traditional sectors such as finance and real estate, characterized by concentrated weight and stability [4]. Group 3: Risk and Return Characteristics - The constituent stocks of the Sci-Tech 50 index are mostly growth-stage companies with high earnings volatility, resulting in an annualized volatility of over 30%, leading to higher risk and return potential under leverage [5]. - In contrast, the SSE 50 index stocks are mature, with an annualized volatility of about 20%, making the associated index futures relatively more controllable and suitable for conservative strategies [5]. Group 4: Market Function Focus - The Sci-Tech 50 index futures primarily serve risk management for the Sci-Tech Board, helping investors hedge against technology stock volatility and attracting long-term capital for investment in innovative enterprises [5]. - The SSE 50 index futures focus on providing hedging tools for large-cap blue-chip stocks, commonly used to mitigate systemic market risks and maintain overall market stability [5]. Group 5: Contract Design Differences - There are differences in contract details such as margin ratios and price fluctuation limits between the two index futures. The Sci-Tech 50 index futures may require higher margins (e.g., 12%-15%) due to its higher volatility, while the SSE 50 index futures typically have margins around 10%-12% [6].

Core Viewpoint - The China Securities Regulatory Commission (CSRC) is actively advancing the development of the Sci-Tech Innovation 50 index futures and options to better serve the high-level development of technology enterprises and enhance the innovation capabilities of the international sci-tech innovation center [1] Group 1 - The CSRC's Deputy Director of the Futures Supervision Department, Wang Ying, announced the ongoing efforts in developing the Sci-Tech Innovation 50 index futures and options [1] - The initiative aims to strengthen the support for technology companies and promote their growth [1] - The development is part of a broader strategy to enhance China's role as an international center for technological innovation [1]