CSRC vice chairman throws weight behind launch of sovereign debt futures
30 May 2013
By Hui Ching-hoo
Jiang Yang, vice chairman of China Securities Regulatory Commission (CSRC), has lent his support to the possibility of launching sovereign debt futures in order to facilitate the development of the futures and derivatives market in China.
Speaking at a forum in Shanghai on May 28, Mr. Jiang remarked that the country’s debt futures and derivatives market is growing apace, stating that a total of 32 commodity and financial futures have now been traded on Mainland futures exchanges.
The futures products currently cover a wide array of commodities including precious metals, energy, and chemicals. Overall the volume of futures transactions 2012 amounted to 1.44 billion. Total transaction value reached 17.1 billion RMB (US$2.7 billion), an increase of 24.44% from a year earlier, he added.
Mr. Jiang suggested several initiatives to further promote the development of the market, and called for the regulators to push ahead with product innovation, for example, by exploring the feasibility of launching government debt futures and new commodity futures linked to iron ore and thermal coal. He also urged the regulatory bodies to enhance supervisory capabilities and investor protection.
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