Guangzhou will build a commodity futures delivery center
Innovate the futures product system and create the “Guangzhou price” of the futures industry; cultivate and establish futures companies to gather a group of futures market entities; build the Guangzhou commodity futures delivery center and build a risk management center based on the futures market; increase Strengthen policy support for the futures market and build a futures industry cluster… On November 2, “Work Plan on Promoting HighQuality Development and Building a Risk Management Center in the Futures Market” (hereinafter referred to as “Plan”) was reviewed and approved by the executive meeting of the Guangzhou Municipal Government.
The reporter learned from the Guangzhou Local Financial Supervision and Administration Bureau that in order to seize the opportunity of the establishment of the Guangzhou Futures Exchange, Guangzhou has studied and formulated a “Plan” to fully utilize the functions and roles of the Guangzhou Futures Exchange through a series of measures and actively create a good futures market. Ecological environment, improve the Guangzhou futures industry chain, promote the coordinated development of spot futures, futures and other real industries and the financial industry, and build the futures industry into a key advantageous industry for the development of Guangzhou’s financial industry during the “14th Five-Year Plan”.
Create “Guangzhou Price” in the futures industry
The “Plan” clearly states that it will provide various support policies including funds to fully support the development of Guangzhou Futures Exchange. Accelerate construction based on the principle of “innovation, marketization, and internationalization”, improve the financialtalent mechanism, introduce high-end futures talents, build a safe and efficient technical system, and rely on the Bay Area The resource advantages and industrial advantages closely serve the green development, the construction of the Guangdong-Hong Kong-Macao Greater Bay Area and the “One Belt, One Road” initiative and other themed R&D products, gradually forming a series of and diversified innovative products. New product system, create the “Guangzhou price” of the futures industry, deepen external exchanges and cooperation, and strive to build the Guangzhou Futures Exchange into a world-class futures trading infrastructure.
According to the “Plan”, Guangzhou will give full play to the leading role of the Guangzhou Futures Exchange, gather a group of high-quality futures operating institutions and risk management institutions, attract a group of high-end futures talents to develop in Guangzhou, and actively create a good ecosystem for the futures market environment, vigorously develop financial technology and related industries to serve the futures market, promote the coordinated development of futures, futures and other real industries and the financial industry, deepen financial exchanges and cooperation between Guangzhou, Shenzhen, Hong Kong and Macao, and create a city based in Guangzhou, radiating the Bay Area and facing the whole country. A risk management center to assist in the construction of an international financial hub in the Guangdong-Hong Kong-Macao Greater Bay Area.
The “Plan” shows that Guangzhou will take multiple measures to cultivate and gather a group of futures market entities, including: cultivating and establishing futures companies, supporting the development and growth of futures companies in Guangzhou, supporting futures market participants to optimize products and businesses, and promoting banks and insurance companies. Institutions actively participate in the futures market, promote fund companies to actively participate in the futures market, develop intermediaries in the futures market, support the development of futures-related information technology industries, and optimize futures-related data services.
How to cultivate and establish futures companies relying on Guangzhou’s core engine function in the Guangdong-Hong Kong-Macao Greater Bay Area is the focus of the “Plan”. According to the “Plan”, it is necessary to explore the establishment of cross-border joint ventures and wholly-owned futures operating institutions, and encourage financial institutions in Guangzhou to cooperate with financial institutions in Hong Kong and Macao to establish joint venture financial groups or futures companies. Support futures companies in establishing risk management subsidiaries and related institutions in Guangzhou.
Building a risk management center based on the futures market
How to build a risk management center based on the futures market is a topic of concern to enterprises. The “Plan” encourages enterprises to use derivatives tools to strengthen risk management, take advantage of Guangzhou’s long industrial chain, numerous upstream and downstream enterprises, and developed commodity trading, and support upstream and downstream entities in the industrial chain to fully use tools such as futures and options to hedge risks. Linkage methods will be used to improve the risk prevention capabilities of industrial chains and supply chains in responding to price fluctuations.
At the same time, the “Plan” proposes to build a Guangzhou commodity futures delivery center, guide entity enterprises to build commodity futures delivery warehouses, and extend the futures industry chain; encourage and support qualified spot enterprises in Guangzhou to apply for establishment with major commodity futures exchanges across the country Bonded delivery warehouse; encourage global suppliers and wholesalers to participate in delivery warehouse market transactions, and cultivate bulk commodity traders that combine futures and cash operations. Support the development of warehousing and logistics industries related to futures delivery. In addition, Guangzhou will also gather upstream and downstream related enterprises and peripheral service providers around the products listed on the Guangzhou Futures Exchange to promote the import and export of commodities and build a bulk commodity industry cluster.
Build a futures industry cluster in Nansha
The “Plan” proposes to build a futures industry cluster in Nansha District and create a futures industrial park integrating business offices, data processing, disaster backup, product development, technological innovation, and conference training. With the Guangzhou Futures Exchange as the core, we will introduce various futures, fund companies, intermediaries and other institutions, attract financial institutions related to futures trading and asset allocation, and build a high-quality carrier for risk management.
In order to create a good ecological environment for the futures market, Guangzhou will set up a futures market think tank, hold high-end futures forums and conferences, carry out futures education and training, and strengthen…Investor education in the commodity sector.
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