China Tells

Wall Street Journal: The Future exchange for commodities in China has had a fantastic run in the last 5 years. Some of the exchange traded products in China, such as sugar and soybean, are already more liquid and bigger than the equivalent of the American traded products, which are the world price setter so far. As one of the world’s biggest commodity user, China has been proactive in seeking a dominant role in setting the world’s commodity price. The domestic future exchange for these commodities is a critical step for China to realize any ambition in this direction. Take Zhengzhou Sugar for example, the daily volume of Zhengzhou sugar is about 10 times that of New York Raw sugar future, which is the most liquid and biggest sugar future in the world outside China. Instead of accepting the world price passively, China is bound to play a more active role in setting the price, and China’s future exchange is bound to have more international influence in the coming future.

华尔街日报：中国的期货市场发展比英美晚好多年，但是起步晚并没有阻碍中国的商品期货增加其在世界上的分量。事实上，在许多大宗商品方面，比如白糖，大豆等，国内期货的交易量甚至已经超过国际期货。下一步就是如何将国内期货国际化，更加深入的参与国际商品的定价过程。