China News Agency, Zhengzhou, January 12th (Kanli) The rapeseed oil, rapeseed meal, peanut futures and options of the Zhengzhou Commodity Exchange officially introduced foreign traders to participate in the transaction as specific domestic varieties on the 12th. 26 overseas customers from countries such as China and Hong Kong participated in the transaction.
Fang Xinghai, vice chairman of the China Securities Regulatory Commission, said in his speech that this is the first time that the domestic futures market has introduced foreign traders to all types of futures and options in the entire industrial chain of oil products, which is a big step in the opening up of China's futures market.
Since the introduction of foreign traders in the form of domestic specific products for the first time in 2018, China's futures market has continuously expanded the scope of specific products.
At present, China has introduced 23 varieties to overseas traders. The prices of important varieties such as copper and PTA have become the global spot trade pricing benchmarks.
Zhang Min, deputy governor of the Henan Provincial Government, said in his speech that in August 2022, rapeseed oil and peanut options will be listed on the Zhengzhou Commodity Exchange. Simultaneously introducing overseas traders is of great significance for Henan's capital market to serve the opening to the outside world and serve the security of the national oil and oil supply.
Chen Gang, vice president of the China Vegetable Oil Industry Association, said that due to the lack of representative related futures varieties in the international market, overseas industrial chain companies are eagerly looking forward to directly participating in the Chinese futures market to manage price risks after the opening of cuisine, peanut futures and options.
Xiong Jun, chairman of the Zhengzhou Commodity Exchange, said that the introduction of foreign traders in rapeseed oil, rapeseed meal and peanut futures and options will help promote the formation of an international trade model with domestic futures prices as an important pricing reference, and improve the quality of oil and oilseeds. The international influence of "China Price" can facilitate related industries and enterprises to make better use of two markets and two resources to manage risks, stabilize production and operation, and better serve China's grain and oil safety.
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