Fang Xinghai: Promote the two -way opening of the futures bond futures, and resolutely suppress excessive speculation

Zhongxin Jingwei, August 26. According to the website of the previous issue, on the 26th, Fang Xinghai, a member of the Party Committee and Vice Chairman of the China Securities Regulatory Commission, delivered a speech at the 19th Shanghai Derivation Products Market Forum, proposing to promote the two -way opening of national bond futures and resolutely suppress it. Excessive speculation and so on.

At the meeting, Fang Xinghai said that since this year, my country's futures market has insisted on stabilizing the word and steadily, and has adopted the impact of external factors such as the global epidemic, loose liquidity, and geopolitics. Implementation, the futures market is running smoothly, the functions are effective, and the service capabilities of industry institutions have been continuously improved, which contributes positive power to help the high -quality development of the real economy and the primary product guarantees the price of primary products.

Fang Xinghai pointed out that there are many uncertain factors in the internal and external situations that are currently facing. The risk of world economic stagflation has increased, the global financial market has increased turbulence, and factors such as geopolitics and extreme weather have impacted the supply chain of energy minerals, food and other varieties. In the context of a significant enhancement of macro uncertainties, it helps micro -subjects to stabilize production and operation, and the impact of flat -input factors on my country's economy is a time questionnaire for the futures market to answer. The CSRC will continue to adhere to and strengthen the party's leadership, complete the new development concepts in complete, accurate, and comprehensively, continuously improve the rule of law and variety systems, continue to improve the quality of the futures market operation, improve the level of openness to the outside world, strengthen market supervision, use the futures market to discover prices, prices, and price markets, prices, and price markets, prices, and price markets. Management risks, allocation of resources, and serving the high -quality development of the real economy. Mainly reflected in four aspects:

The first is to consolidate the system foundation and promote the innovation of variety. The "Futures and Derivative Models" is a system integration of the 30 -year development and regulatory experience of the futures market. We must use this as an opportunity to convert the system advantage into development kinetic energy and do a good job of supporting the "Futures and Derivative Materials Law" supporting regulations. , Change, abandon "work. Focusing on the listing of marketing, positioning management, industrial customer cultivation, off -site derivatives trading, and business scope of futures company, focus on the revision of the "Administrative Measures for Futures Exchange" and "Administrative Measures for Futures Company" , Delivery, settlement and other basic systems. Based on the improvement of the marketing mechanism of futures options, we will closely follow the national strategic direction and the needs of industrial development. We will strive to promote the listing work in order in order to supplement shortcomings and green development of the industrial chain and serve green development, and further enrich and improve the variety system.

The second is to serve the real economy as the purpose and continue to improve the quality of market operation. Keep close to the needs of the industry, continuously optimize contract rules, improve the convenience of physical enterprises, and enhance market toughness. Optimize and improve the settlement standards and library capacity settings, give full play to the advantages of the open futures prices, the unified and standardized and standardized delivery standards, help the construction of a unified market in the country, and unblock a large domestic cycle. Continue to optimize the market system, enrich the number and type of market merchants, and improve the quality of market liquidity. Explore the pilot of the combination margin, optimize the discount rate of guarantee products, improve the efficiency of investor funds, and reasonably reduce market participation costs. Strengthen the cultivation of industrial customers, dredge industrial customers to participate in the "blocking point", promote more physical enterprises in the production and distribution field to participate in the futures market, and encourage and guide futures company risk management subsidiaries to enhance the ability of SMEs.

The third is to unswervingly promote the high level of opening up the futures market. Promote the openness of markets, institutions, and products, and actively explore diversified openings. Study and promote the incorporation of oil and oil futures options into specific varieties, introduce the participation of overseas traders, and enhance the international influence of my country's fat oil futures prices. Promote the two -way opening of Treasury bond futures. Complete all preparations as soon as possible, open QFII and RQFII to participate in commodity futures, commodity options and stock index options, and provide richer risk management tools for overseas traders.

The fourth is to strengthen market supervision and maintain market order. Adhere to the strict main base, comprehensively purify the market ecology, and improve the early identification, early warning, early discovery, and early disposal of market risk prevention and control mechanisms. Continue to promote the implementation of "seeing through" supervision, improving the effectiveness of scientific and technological supervision, enriching regulatory methods, improving the ability to discover and investigate and deal with illegal and illegal acts, and resolutely suppress excessive speculation. Strengthen the supervision of the spot market market, strengthen the interoperability of information with the spot management department, establish relevant regulatory collaboration arrangements with other financial regulatory authorities, and jointly build a good market ecology. (Zhongxin Jingwei APP)

- END -