(Yicai) Sept. 8 -- China should seize the favorable changes in the international futures market by launching more specific futures varieties and steadily expanding the investment scope for qualified foreign institutional investors and Chinese yuan QFII in the futures market, according to the vice chairman of the China Securities Regulatory Commission.

In the futures industry, China should continue to deepen the cross-border cooperation of exchanges and actively explore more diversified paths on the premise of risk control, Fang Xinghai said at the ongoing 2023 China (Zhengzhou) International Futures Forum.

At the same time, the futures industry should strengthen cross-border supervision and cooperation, promote bilateral and multilateral exchanges, dialogues, and regulatory collaborations, further support the construction of supervisory capacity under the conditions of opening up, enhance the monitoring and analysis of cross-border trading and capital flow into the futures market, and make efforts to safeguard the overall smooth operations of futures trading, Fang noted.

It is also necessary to optimize and improve the system rules under the conditions of opening up, continue to improve and stabilize market expectations, and provide a more convenient and friendly environment for foreign clients who participate in China’s futures market, Fang added.

CME Group’s product innovations are closely related to the needs of both the global and Chinese economies, Russell Beattie, managing director and head of Asia Pacific of the world’s leading derivatives marketplace, said at the 2023 China (Zhengzhou) International Futures Forum.

With the development and further opening-up of China’s domestic derivatives market, CME is committed to working with Chinese market participants to explore and tap the potential for long-term growth of China’s derivatives market, Beattie added, noting that CME will continue to play a key role in meeting the actual needs of the Chinese economy.

Editor: Futura Costaglione