(Yicai Global) Sept. 2 -- The 2021 China Zhengzhou International Futures Forum started online yesterday, with a focus on the various ways the futures market can support the economy. 

Fang Xinghai, vice chairman of the China Securities Regulatory Commission, said in a speech that agricultural futures could be used for promoting rural revitalization, and that the futures market should ramp up services for downstream firms as well as small and mid-sized companies. 

The futures market should give full play to its advantages in helping to build the national carbon emissions trading market, Fang said, adding that development of new commodity and financial futures will be promoted. The role of options products in risk management will also be important, he noted.

Meanwhile, more large companies will be encouraged to take part in the futures market, Fang said, adding that continuous upgrade of its structure can help to attract institutional investors. 

Market opening-up should be continued, Fang stressed in his speech, as it can facilitate overseas investors' participation while also boosting China’s sway over the pricing of commodities.

Cooperation with overseas watchdogs on cross-border regulation and law enforcement will also be strengthened, he said. 

Launched in 2016, China Zhengzhou International Futures Forum has been held five times. This year, it focuses on topics such as the world’s economic prospects in the post-pandemic era and China's economy amid its so-called dual circulation strategy.

The forum is being hosted by the Zhengzhou city government, Zhengzhou Commodity Exchange and CME Group.

Editor: Tom Litting