[Explanation] With the approval of the China Securities Regulatory Commission, on December 26, 2022, Dalian Commodity Exchange soybean futures and options will introduce overseas traders and move towards internationalization.

This means that DCE's soybean futures and options will become the first variety sector in China's futures market to open to the outside world.

　　[Explanation] At present, DCE's soybean series futures and options have formed a relatively complete industrial chain product tool system, with trading volume and open interest accounting for 27.56% and 31.66% of all DCE varieties, respectively.

According to industry insiders, the oil and oil spot market has a relatively high degree of internationalization, and domestic and foreign industries have strong calls for the opening of the oil and oil futures market.

　　[Concurrent] Chen Shangyi, General Manager of Huatai Futures International Business Department

　　After receiving so many varieties from our DCE this time, in fact, everyone has one, which is a pleasant surprise, and then everyone immediately started to prepare. From the information we have learned so far , it is also more active than in the past, that is, the launch of a single variety and so on.

　　[Explanation] It is reported that soybean futures is the earliest futures product listed on Dalian Commodity Exchange. After more than 20 years of steady development, it has become an important series of soybean derivatives in the world.

In the first half of 2022, DCE No. 1 Soybean, No. 2 Soybean, Soybean Meal, and Soybean Oil futures ranked among the top 40 in terms of trading volume of global agricultural product futures and options contracts, among which Soybean Meal Futures has ranked first for many years; 4 futures The average daily positions of the varieties were 184,800 lots, 40,100 lots, 2,310,100 lots, and 713,400 lots.

The stable operation of soybean futures and options has laid a solid foundation for the introduction of overseas traders and internationalization of this series of varieties.

Industry insiders believe that the internationalization of soybean futures and options will facilitate the further linkage between domestic soybean prices and foreign prices, and provide more accurate risk management tools for the global industry.

　　[Concurrent] Tang Qijun, Vice President of China Soybean Industry Association

　　It can attract relevant foreign industrial enterprises to use my country's futures market for hedging, and can play the function of the futures market in serving the real economy.

It is conducive to the further linkage between domestic soybean prices and foreign prices, providing domestic enterprises with more favorable and reasonable price references, and providing more scientific and accurate price standards in the trade of imported non-GMO soybeans in China. At the same time, this fair price can also Better reflect the changes in the supply and demand pattern of the global non-GMO soybean market.

　　[Concurrent] Wang Xianyong, Assistant Director of Commodity Department 1 of Dalian Commodity Exchange

　　First, it is conducive to providing global participants with fair, just, and transparent international trade pricing references and efficient and accurate risk management tools; Third, it is conducive to promoting the diversification of my country's soybean import sources, serving the national grain and oil security strategy, and promoting the internationalization of the RMB.

　　[Explanation] China is the world's largest soybean importer and producer of soybean meal and soybean oil. In 2021, China will produce 16.4 million tons of soybeans, import 96.52 million tons of soybeans, and produce about 79 million tons of soybean meal and about 18 million tons of soybean oil. .

Among them, soybean imports account for more than half of global imports, and soybean meal and soybean oil production account for nearly 30% of global production. China occupies an important position in the global soybean consumption market.

In 2018, China introduced overseas trading in crude oil futures for the first time, which means that overseas customers can participate in trading in the Chinese futures market.

Up to now, Dalian Commodity Exchange has introduced 11 varieties and instruments such as iron ore futures, palm oil futures and options to overseas traders.

　　Reporter Yang Yiyu Ruizhai reports from Dalian, Liaoning

Responsible editor: [Luo Pan]