Core Viewpoint - The Shanghai Futures Exchange (SHFE) announced the expansion of the trading scope for Qualified Foreign Institutional Investors (QFIIs) and Renminbi Qualified Foreign Institutional Investors (RQFIIs), effective from September 10, 2025, allowing them to trade additional futures and options contracts, including crude oil asphalt futures and fuel oil options [1]. Group 1 - The SHFE will introduce new trading products for QFIIs and RQFIIs, including crude oil asphalt futures and options for fuel oil and pulp [1]. - Futures companies must comply with regulations for opening accounts for QFIIs and manage trading permissions according to the relevant guidelines [1]. - The trading of products under the suitability system for QFIIs will require futures companies to adhere to specific management measures [1].

Group 1 - The National Standardization Administration and the Ministry of Industry and Information Technology have issued a plan to establish a high-quality standard system for industrial mother machines by 2026, aiming to enhance product quality and equipment upgrades through high-level standards [2] - The Shanghai Futures Exchange will expand the range of products available for qualified foreign institutional investors starting September 10, 2025, including new futures and options contracts for petroleum asphalt and fuel oil [2] - The National Healthcare Security Administration is promoting the direct issuance of maternity allowances to individuals, with 20 provinces implementing this system, covering nearly 80% of the coordinated areas [3] Group 2 - Guizhou Moutai's controlling shareholder increased holdings by 67,821 shares on September 1 [5] - BYD's new energy vehicle sales reached 373,600 units in August [5] - Chengdu Huami released a 40G high-precision RF direct ADC chip [5] - JD Group made a voluntary public acquisition offer to CECONOMY [5] - Sichuan Jinding's subsidiary obtained a mining license [6] - Su Dawei plans to acquire up to 51% of Changzhou Weipu [6]

Core Viewpoint - The Shanghai Futures Exchange (SHFE) is expanding the range of trading products available to qualified foreign institutional investors (QFIIs) starting from September 10, 2023, which includes new futures and options contracts for petroleum asphalt, fuel oil, and pulp [1][3][4] Group 1: Expansion of Trading Products - The SHFE announced the addition of petroleum asphalt futures, fuel oil, and pulp options to the trading products available for QFIIs [1][3] - This expansion is part of a broader trend of increasing access for QFIIs to China's futures market, which has seen a steady increase in the number of tradable products over recent years [4] Group 2: Regulatory Framework and Management - Futures companies are required to manage the trading permissions and ensure compliance with the regulations for QFIIs, including the appropriate management of trading suitability [3] - The SHFE emphasized the importance of risk management and orderly participation of QFIIs in the trading process, urging relevant parties to prepare adequately for these changes [3] Group 3: Historical Context and Future Implications - Since October 2021, the Chinese regulatory framework has progressively opened up more trading products to QFIIs, with a total of 100 products now available as of the latest announcements [4] - The ongoing expansion is expected to attract more foreign investors to the Chinese futures market, enhancing the international influence of Chinese pricing and contributing positively to the goal of establishing China as a financial powerhouse [4]

中国期货市场对外开放又有新动作。 9月1日，上海期货交易所（下称"上期所"）发布公告称，经中国证监会同意，自9月10日（当日9:00开盘）起，上期所将进一步扩大合格境外机构投资者和人民币合 格境外机构投资者（统称合格境外投资者）可交易品种范围，新增开放的品种包括：石油沥青期货合约，燃料油、石油沥青、纸浆期权合约。 同日，上期所还发布了《关于做好进一步扩大合格境外投资者参与商品期货、期权交易范围有关事项的通知》。该通知称，期货公司会员接受合格境外投资者委托 进行上期所商品期货、期权交易的，应当按照《期货市场客户开户管理规定》和中国期货市场监控中心《特殊单位客户统一开户业务操作指引》，为合格境外投资 者办理开户手续，并严格按照《关于进一步扩大合格境外投资者参与商品期货、期权交易范围的公告》等有关要求，做好客户交易权限的管理工作。对于合格境外 投资者从事实行适当性制度的品种交易的，期货公司会员应当严格执行《上海期货交易所期货交易者适当性管理办法》和《上海期货交易所期货交易者适当性制度 操作指引》的要求，做好合格境外投资者的交易者适当性管理工作。 上期所在通知中强调，期货公司应做好交易权限管理和规则解读，充分提示合格 ...

Core Viewpoint - The Shanghai Futures Exchange will expand the range of tradable products for qualified foreign institutional investors starting from September 10, 2025, allowing them to trade new commodity futures and options contracts [1] Group 1: New Products - The newly added tradable products include crude oil asphalt futures contracts [1] - Additional products will consist of fuel oil, crude oil asphalt, and pulp options contracts [1]