Speech at the Ceremony of Overseas Investors’ Participation in RBD Palm Olein Futures Trading
Jin Guowei, Deputy Mayor of Dalian
December 22, 2020, Dalian
Distinguished Mr. Ran Hua, Chairman of Dalian Commodity Exchange (DCE); Mr. Xi Zhiyong, CEO of DCE; Mr. Yan Shaoming, Deputy Director of Department of Futures Supervision of CSRC,
We are now at the key stage when the city-wide efforts are being made to implement the guiding principle of the Fifth Plenary Session of the 19th Central Committee of the CPC, the Central Economic Work Conference, the 14th Plenary Session of the 12th Provincial Committee of the CPC and the 13th Plenary Session of the 12th Municipal Committee of the CPC. Today, we are gathered here to witness the encouraging event of overseas investors’ participation in DCE RBD palm olein futures trading. First, please allow me to extend, on behalf of Secretary of Dalian Municipal Committee of the CPC Tan Zuojun and Mayor Chen Shaowang, our sincere welcome and heartfelt thanks to China Securities Regulatory Commission (CSRC) and friends from all walks of life for your continued support to Dalian capital market and futures industry over the years.
China is a major importer and consumer of palm oil in the world. Thanks to the generous support of CSRC, DCE has successfully opened the RBD palm olein futures to overseas investors. This plays a key role in advancing the effective connection between overseas production, domestic processing and consumption, better serving the new development pattern of “dual circulation” and accelerating the building of Dalian as a regional financial center and the construction of“the Pilot Area of Industrial Upgrading and Pioneering Area of Economic Social Development”.
General Secretary Xi Jinping emphasized at the Fifth Plenary Session of the 19th Central Committee of the CPC that“we must make full use of both domestic and international markets and resources”, “promote the formulation of economic governance rules in emerging fields and improve the ability to participate in international financial governance.” Building Dalian into a regional financial center is an important mission entrusted to the city by the Central Government and a key carrier for Dalian's development of“the Pilot Area and Pioneering Area”. At the 13th Plenary Session of the 12th Municipal Committee of the CPC, it was proposed that, during the “14th Five-Year Plan”period, Dalian will enhance its influence as the regional financial center of Northeast Asia by giving full play to the role of DCE to effectively enlarge the futures market function. DCE has become a beautiful “name card” of Dalian. The Dalian Municipal Committee of the CPC and the Municipal Government will continue to support DCE to strengthen its leading position and driving role, focus on serving the national strategies and serving the real economy, and steadily promote the development of the regional financial center. We hope that DCE will take this great opportunity and continue to carry out ongoing innovation and accelerate the building of an open, diversified and world-class derivatives exchange that integrates futures and physical, and connects domestic and overseas markets, so that more “Dalian Prices” and “Dalian Solutions” are presented for the global commodity trading system. By doing so, DCE will be able to make greater contributions to Dalian’s efforts in developing into a regional financial center, creating an important node in the domestic circulation and a pivotal link for the “dual circulation” at both domestic and international level!
We sincerely hope that friends in the futures industry will continue to support the development of Dalian futures market. You are always welcome to Dalian for investment. Let’s join hands to pursue the common development and promote revitalization of this city.
Last but not least, I wish DCE a great success in opening RBD palm olein futures to overseas traders!