(Yicai) Sept. 26 -- The Shanghai Futures Exchange will continue to enrich its product portfolio and promote a higher-level opening-up, according to the general manager of the futures exchange specialized in metals, energy, and chemical commodity products.

Wang Fenghai said so yesterday during his keynote speech at the Finance and Insurance Sub-Forum of the 2023 North Bund Forum, Shanghai Securities News reported.

The SHFE launched 23 futures and nine option varieties as of the end of August, with a cumulative turnover of 1.4 billion lots for CNY121 trillion (USD16.6 trillion), Wang noted. The products cover non-ferrous, ferrous, and precious metals and the energy, chemical, and shipping industries, among others, he pointed out, adding that five futures and one option are open to global traders.

Meanwhile, the SHFE is taking measures to encourage more entities to use futures instruments. In the first half of the year, the number of corporate clients of the SHFE increased over 16 percent from a year earlier, and that of corporate clients of the Shanghai International Energy Exchange soared nearly 24 percent, Wang said.

The shipping index futures listed last month will help companies in the shipping container transportation supply chain enterprises and foreign trade firms cope with shipping price fluctuations and industry cycle risks and enhance their risk management level and international competitiveness.

Editor: Futura Costaglione