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Vice Chairman of CSRC Fang Xinghai: Listing LPG Futures and Options Is A Great Progress in Building Domestic Energy Futures Market System

Date:31 March 2020
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At the critical period of controlling the epidemic and striving to promote work and production resumption, LPG, the first futures product in 2020 and the first gas energy derivatives product in China, is listed on Dalian Commodity Exchange (DCE) on March 30. Fang Xinghai, Vice Chairman of the China Securities Regulatory Commission (CSRC), says in his speech during the listing activity that the listing of LPG futures and options is the key measure for the futures market to practice the green development idea and facilitate the energy price forming mechanism, and it represents a remarkable progress in building the domestic energy futures market system represented by coal, oil and gas.

Fang says that LPG, a kind of clean energy, is important to the national economy and the people’s livelihood. LPG futures and options are the first gas energy products of China’s futures market, and LPG is the first product with futures and options products listed at the same time. The listing of LPG futures and options is the key measure for the futures market to practice the green development idea and facilitate the energy price forming mechanism, and it represents a remarkable progress in building the domestic energy futures market system represented by coal, oil and gas, and marks a new attempt in the futures products listing mechanism.

He says that the COVID-19 outbreak has enabled us to deeply recognize that the more uncertain the market is, the more we should manage relevant risks. The futures market can accomplish great deeds in this aspect and should do so. It should assume its responsibility, keep innovating new instruments, increase market supply, improve market operation quality, and expand the opening-up, thus providing enterprises and investors with more diversified risk management instruments, accurately solving enterprises’ operation difficulties and better serving the high-quality economic development. Employees in the futures industry will join hands with all industries to gather strength to support the economic and social development and make special contributions to winning the war in preventing and controlling the COVID-19 and building a moderately prosperous society in an all-round way.

Disclaimer: This English translation may be used for reference only. In cases there is any discrepancy between the English version and the original Chinese version, the original Chinese version shall prevail. Dalian Commodity Exchange may change or update this English translation without any prior notice and shall accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or change with regard to this English translation.

Disclaimer: This English translation may be used for reference only. In cases there is any discrepancy between the English version and the original Chinese version, the original Chinese version shall prevail. Dalian Commodity Exchange may change or update this English translation without any prior notice and shall accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or change with regard to this English translation.

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