BEIJING, May 16 (Xinhua) -- China has laid a solid ground to step up the
development of the country's futures trading market, according to China Futures
Association (CFA) here on Saturday.
The country has narrowed the gap with international futures market as its
futures trading was less exposed to the impact of the global financial crisis,
the CFA vice director Li Qiang said at a forum on the development of futures
market.
China ranked second on international market in terms of commodity futures
trading. "The futures prices of products such as copper, corn, soybean and wheat
have seen a growing influence on the global price changes," Li said.
It was necessary for China to enhance futures trading development and use
the market as a tool for risk management at a time of global economic downturn,
according to Li, as futures prices often served as a barometer to indicate
international commodity price changes.
At present, the country has 20 products on futures trading. Two products
have been open for market trading since the year's beginning, including steel
and early rice, with the launch of swine futures in
expectation.
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