“Shanghai Price” continues to release international influence and empower the construction of Shanghai as an international financial center–Economy·Technology–People’s Daily Online

Original title: “Shanghai Price” continues to release international influence and empower the construction of Shanghai as an international financial center

Gold ingots, stainless steel, crude oil, alumina, petroleum asphalt, copper cathode… walking into the trading hall of Shanghai Futures Exchange, multiple futures delivery products are displayed in sequence. In recent years, “Shanghai prices” represented by “Shanghai gold”, “Shanghai copper” and “Shanghai silver” have continued to release international influence and injected development momentum into the construction of Shanghai as an international financial center.

Up to now, the Shanghai Futures Exchange has listed 23 futures varieties and 9 options varieties, covering metals, energy, chemicals, shipping and other fields. It is one of the three major non-ferrous metal pricing centers in the world. 5 futures varieties and crude oil options are directly linked to each other. Open to foreign investors. The annual trading volume in 2022 will be 1.943 billion lots, with a transaction value of 181.3 trillion yuan.

Hu Jun, chairman of Zheshang Futures Co., Ltd., said in an interview with a reporter from China News Service that the gradually increasing influence of the “Shanghai Price” is mainly reflected in the two dimensions of developing new varieties and exploring new models.

She explained that the research and development of new varieties can improve the enterprise risk management toolbox. The launch of new varieties such as synthetic rubber, alumina and container shipping index (European line) will help smooth out spot price fluctuations, ensure corresponding “double chain” security, and strengthen the futures market. Service capabilities are of positive significance; exploring new models can help the futures market better serve entities. In addition to the research and development and launch of new products, the Shanghai Futures Exchange is also actively promoting service models for mature products.

“Shanghai Price” has played an important role in the process of building an international financial center. Jia Xiaolong, general manager of Nanhua Futures Co., Ltd., told reporters that the “Shanghai price” can attract more international investors to invest in the Chinese market. International investors can make investment decisions and asset allocation by referring to the “Shanghai Price”, thus promoting the increase of capital flows and international investment.

Since this year, Shanghai’s futures and options products have continued to add new products. The world’s first synthetic rubber futures and options, the world’s first physically delivered alumina futures, and China’s first shipping futures type Container Index (European Line) futures have been launched.

“With the gradual improvement of new products and the gradual introduction of new service models on the Shanghai Futures Exchange, more and more domestic and international commodities and related transactions will be completed in Shanghai, which will enhance Shanghai’s status as a global commodity pricing center. This will further promote the construction of Shanghai as an international financial center,” Hu Jun said.

Serving the real economy is the natural mission of financial development. Li Eryuan, senior manager of the settlement department who joined the Shanghai Futures Exchange in 2011, has a deep understanding of this. “We are committed to optimizing the settlement mechanism to facilitate the participation of physical enterprises and using the futures market to manage risks. We will continue to understand the needs of enterprises through market research and other methods in the future, and provide enterprises with more services that reduce costs and increase efficiency.”

The number of transactions in futures and options is growing day by day, and the need for entities to use related futures and options tools for risk management is also increasing. Jia Xiaolong believes that futures and options tools can help companies enhance their ability to fight risks, protect them from being disrupted by large fluctuations in commodity prices, and reduce their daily operating risks. Entity enterprises can combine futures options tools with daily purchasing and sales to reduce costs and increase revenue.

The Shanghai Stock Exchange stated that in the next step, it will continue to adhere to the development direction of marketization, rule of law, and internationalization, with the mission of serving the high-quality development of the real economy, assisting global customers in pricing transactions, managing risks, and allocating resources, and is committed to creating a service-oriented, An international, digital, green and modern futures exchange will form “Shanghai experience” in the futures market, enhance the influence of “Shanghai prices”, and help Shanghai build an international financial center with important global influence. (Gao Zhimiao)

(Editors: Yang Yuboluo, Yang Di)

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