Interview of Luo Xufeng, Chairman of Nanhua Futures, with The Voice of the Economy

There was a time when people's first impression of the futures market was that it was "niche". However, after more than 30 years of development, especially the rapid development in the last decade, the futures market has undergone a magnificent transformation.

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Ma Wensheng, Chairman of Xinhu Futures Company Limited, said, " After more than 30 years of development, China's futures market is playing an increasingly important role in serving the real economy, preventing risks, safeguarding supply and price stability, with a growing market size and a wealth of products and businesses."?

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From agricultural futures such as red dates, eggs, apples and cotton, to financial futures such as 5-year treasury bonds, 10-year treasury bonds, the SSE 50 stock index and the CSI 500 stock index. Since the 18th National Congress, 65 new varieties have been listed on the Chinese futures market, more than the total number of varieties listed in the previous 20 years. Luo Xufeng, Chairman of Nanhua Futures Co., Ltd said, "In recent years, with the rapid development of the national economy, the exchanges are now launching new varieties at a faster and faster pace and supplying the market demand more and more adequately, reflecting the leading role of the national economic development on the futures market."

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Moreover, recently, the Securities and Futures Commission announced that it has approved the trading of soybean 1, soybean 2, and soybean oil options on the Dalian Commodity Exchange?from 8 August 2022. This means that by that time, the number of futures and options in China will have increased to 99.?READ MORE:

While the number of varieties is increasing, the coverage of the variety is also expanding, and a multi-industry chain variety system has been formed, represented by copper in the non-ferrous metals industry, iron ore and rebar in the steel industry, oilseeds and oilseeds in the crushing and farming industry, and crude oil in the energy industry, basically covering the main areas of national economic development. At the same time, domestic and international influences on the prices of non-ferrous metals, steel, beans, PTA and other varieties have become increasingly significant.

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Luo Xufeng, chairman of Nanhua Futures Co Ltd, is even more excited about the variety that will be added to the futures market in the future. Luo Xufeng said," On the energy side, electricity futures, for example, are not yet listed. In the past two years, our country has attached great importance to the development of environmental protection, and we have not yet seen any signs of listing futures related to various indicators of environmental protection, such as carbon emissions. Index futures on various commodities also need to be launched as soon as possible. I feel that after the implementation of the Futures and Derivatives Act, the exchange will have a very strong incentive to innovate some new varieties to meet the needs of the market, to plan and conduct market research on these varieties, and to be closer to the actual needs of the market."?