Commodity Online
BEIJING : China Securities Regulatory Commission (CSRC) on Thursday claimed country’s futures market has become the second largest in the world after the US.
Speaking to reporters here, Slang Fulin, Chairman of the China Securities Regulatory Commission, said the increase in products listed and transaction volume of China's commodity futures market has been one of the highest in the world in recent years.
Shang said, over the past five years China has listed 15 commodity futures products related to the national economy and people's livelihood on the commodity futures market, which only had seven products listed previously.
With the exception of crude oil futures, the world's major commodity futures products have all listed in China for trading.
According to Shang, in 2008 China's futures market recorded 1.36 billion lots in gross trading volume and 71.9 trillion Yuan in gross trading value.
Shang noted that China has established a risk prevention and dissolution mechanism that not only conforms to international market operation legislation, but is also in line with the reality in China.
This mechanism has effectively averted the significant risks following the drastic price fluctuations in the international futures markets in recent years, successfully handled the spread and proliferation of extreme market moves experienced last year as a result of the international financial crisis, and maintained the smooth operation of both China's futures markets and the futures sector.
