Fan Fuchun, vice chairman of China Securities Regulatory Commission, pointed out that the establishment of China's financial futures exchange and the timely trading of financial futures are the objective requirements of China's capital market reform, opening-up and development, and the concrete embodiment of thoroughly implementing the State Council's Opinions on Promoting the Reform, Opening-up and Stable Development of the Capital Market, which is of great strategic significance for deepening the capital market reform, improving the capital market system, enriching the products of the capital market, giving full play to its functions, opening up more investment channels for investors and meeting their needs.
Fan Fuchun pointed out that the development of financial futures in China is a challenging innovation, and efforts should be made to turn China's financial futures exchange into a healthy, standardized, dynamic and advancing with the times.
Feng, member of the Standing Committee of Shanghai Municipal Committee and executive deputy mayor, pointed out that in recent years, Shanghai's financial market system has been continuously improved, and a diversified market system including modern financial markets such as currency, stocks, bonds, gold, commodity futures and property rights markets has been established and improved. The establishment of China Financial Futures Exchange will make Shanghai a market where all kinds of financial elements gather, which will certainly promote the construction of Shanghai's international financial center, promote Shanghai's better participation in international competition in the allocation of financial resources, and increase Shanghai's international competitiveness.
China Financial Futures Exchange is a financial futures exchange established by Shanghai Futures Exchange, Zhengzhou Commodity Exchange, Dalian Commodity Exchange, Shanghai Stock Exchange and Shenzhen Stock Exchange with the consent of the State Council. At present, the design of futures contracts and business rules, preparation of technical systems and investor education have been basically completed.
After years of standardization and development, China's mainland futures market is ready to launch financial futures. First, the legal environment of the market is constantly improving, and the legal system is becoming more and more perfect, which provides legal guarantee for the operation of financial futures. Second, the basic system construction has been greatly strengthened, the futures margin monitoring center has been established, the futures investor protection fund will be established soon, the financial security index system of futures companies with net capital as the core is being gradually implemented, the market supervision means are more perfect, and the supervision ability is obviously improved. Third, the risk management systems of exchanges and futures companies are becoming more and more perfect, which provides an important guarantee for the smooth operation of financial futures.
It is understood that after the establishment of China Financial Futures Exchange, futures contracts and business rules will be fully demonstrated, technical system tests and simulated transactions will be conducted, and stock index futures products will be launched in due course after all preparations are made. While developing stock index futures and options, China Financial Futures Exchange will also strengthen the research and development of derivatives such as treasury bonds futures and foreign exchange futures, and constantly carry out product innovation, institutional innovation and technological innovation to promote the development of China's financial derivatives market. (Reporter Jiang Guocheng, Pan Qing)