BEIJING, Oct. 19 (Xinhua) -- Representatives from China's four futures exchanges briefed the opening-up of related futures varieties on a conference held in Beijing on Wednesday.
According to Lu Feng, deputy general manager of Shanghai International Energy Trading Center (SIETC), SIETC has saw 61 foreign investors open their accounts in the center. Turnover made by foreign investors accounted for 5-10 percent of the total in the market.
Chen Wei, director of the Industrial Products Department of Dalian Commodity Exchange (DCE), noted, 38 overseas intermediaries have completed 53 groups of commissioned business filing on iron ore futures through 29 domestic futures companies since May. 86 foreign investors have opened accounts, 57 of which have participated in the trading. The turnover and holdings of foreign investors have only occupied a small position in the market.
Wang Chende, director of the international cooperation department of Zhengzhou Commodity Exchange (ZCE), said such preparations as rule argumentation, institution revision and system development for the introduction of foreign investors in PTA futures have been completed. Public solicitation of market opinions on related rules and systems has started.
According to Huang Xiaolong, deputy director of the International Development Department of China Financial Futures Exchange (CFFEX), together with Shanghai Stock Exchange (SSE) and Deutsche Börse Group (DBG), the CFFEX invested in building China Europe International Exchange (CEIE) in Frankfurt of Germany in 2015, in a bid to promote the internationalization of RMB. It took the lead in completing the acquisition of the Pakistan Stock Exchange in 2017 to further improve the influence of Chinese exchanges in the international market. (Edited by Gu Shanshan, Zhang Yuan, zhangyuan11@xinhua.org)
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