On December 7, the 19th China International Futures Conference hosted by the China Futures Association was held in Shenzhen. Zhang Ming, deputy general manager of the Shanghai Futures Exchange, said at the exchange’s high-level roundtable forum that the Shanghai Futures Exchange closely focuses on the fundamentals of the national economy. and pillar industries, vigorously enriching the product matrix, covering metals, energy, chemicals, services and other industries, and continuously enhancing innovation capabilities.
According to Zhang Ming, as of November, the trading volume of the Shanghai Futures Exchange (including Shanghai Futures Energy) reached 2.201 billion lots, a year-on-year increase of 7.9%; the transaction value was 214.93 trillion yuan, a year-on-year increase of 25.64%. This year, we have provided hedging tools to serve the non-ferrous metal industry and launched four option products: lead, nickel, tin and alumina. At present, the registration and listing of cast aluminum alloy futures and options, offset printing paper futures and options are entering the final sprint stage.
At the same time, the Shanghai Futures Exchange focuses on key areas for the opening of the futures market to the outside world, promotes the integrated opening of the platform in an orderly manner, and leads the growing influence of the global pricing system. Currently, 6 products on the Shanghai Futures Exchange are directly open to overseas traders, and 16 products have introduced qualified foreign investors. Market participants are located in more than 30 countries and regions, covering the upstream and downstream of the industrial chain at home and abroad, multinational trading companies, investment Benchmark companies among banks, funds and asset management companies have further increased their overseas customer participation. As of November, the number of overseas customers has increased by more than 20% year-on-year, and the number of QFI customers has increased by more than 60% year-on-year.
Zhang Ming said that in 2025, the SHFE will enter a critical stage of transforming from excellence to strength in building a world-class exchange. Under the guidance of the Opinions on Strengthening Supervision, Preventing Risks and Promoting High-Quality Development of the Futures Market, the SHFE will act with greater responsibility, step up efforts to accelerate the establishment of a world-class institution, and make every effort to comprehensively promote all work to a new level. The first is stronger product innovation. In order to empower the development of new productivity, the Shanghai Stock Exchange is currently accelerating the research and development of cast aluminum alloys, liquefied natural gas, offset printing paper, corrugated base paper and other varieties, striving to provide better services with a more complete product matrix The overall situation of high-quality economic development. The second is stronger service measures to adapt to the needs of real enterprises and spot development trends, comprehensively optimize the operating mechanism, strengthen market promotion and cultivation, do a good job in supporting agriculture, and implement the “five major articles” of finance. The third is to strengthen the level of risk prevention, make full use of scientific and technological means to empower supervision, closely track the operation of domestic and overseas markets, strengthen supervision and research on new trading behaviors, and continue to practice the supervision model with Chinese characteristics. The fourth is to have stronger price influence, expand the application scenarios of futures prices, increase the number of companies priced at “Shanghai prices” and the scale of trade, and create a “Shanghai price” that matches the international financial center.