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Speech at the Ceremony of Overseas Investors’ Participation in RBD Palm Olein Futures Trading——Chen Gang

Date:23 December 2020
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在境外交易者参与棕榈油期货启动仪式上的致辞

Speech at the Ceremony of Overseas Investors’ Participation in RBD Palm Olein Futures Trading

中国植物油行业协会副会长    陈 刚

Chen Gang, Vice Chairman of China National Vegetable Oil Association

2020年12月22日 大连

December 22, 2020, Dalian

  尊敬的证监会绍明副主任,大商所冉华书记、志勇总经理:

  Distinguished Mr. Yan Shaoming, Deputy Director of Department of Futures Supervision of CSRC; Mr. Ran Hua, Secretary of CPC Committee of Dalian Commodity Exchange (DCE); Mr. Xi Zhiyong, CEO of DCE,

  大家上午好!

  Good morning!

  非常高兴与各位嘉宾共同见证大连商品交易所引入境外交易者参与棕榈油期货。我代表中国植物油行业协会表示热烈祝贺!

  It’s a great pleasure for me to witness overseas investors’ participation in DCE RBD palm olein futures trading together with the distinguished guests here. On behalf of China National Vegetable Oil Association (CNVOA), I would like to extend my warmest congratulations!

  棕榈油是全球产量和贸易量最大的植物油品种,主产地在亚洲,主要消费地分布在亚洲、欧洲和美洲,产业链跨越多个“一带一路”国家,是全球分工共享的缩影。我国是世界第二大棕榈油进口国和第三大消费国,全球贸易地位举足轻重。

  Among all the vegetable oils, palm oil is the one with the largest global output and international trading volume. Palm oil is mainly produced in Asia, while its major consumers are in Asia, Europe, and America. As its industrial chain stretches across many countries along the Belt and Road, this industry is also an epitome of global cooperation and sharing. Currently, China is the world’s second largest importer and third largest consumer of palm oil, occupying a crucial position in international trading.

  经过十余年的稳健发展,大商所已成为全球最大的棕榈油期货市场,棕榈油期货已成为产业不可或缺的风险管理工具。目前利用棕榈油期货套保  hedging的棕榈油企业进口量占我国进口量的85%以上。国有、民营和外资企业等各类市场主体运用棕榈油期货对冲价格风险,稳定经营,取得了良好成效。

  After more than a decade of steady development, DCE has become the world’s largest RBD palm olein futures market. RBD palm olein futures has become a crucial tool of risk management in the industry. At present, the import volume by palm oil entities using RBD palm olein futures for hedging account for more than 85% of China’s total import volume. State-owned, private and foreign-funded enterprises and other main market participants use RBD palm olein futures to hedge against price risk and ensure steady operation, thus having achieved good results.

  随着我国经济增长和行业变迁,油脂油料逐渐成为我国开放度最高、竞争最激烈、境内外市场联动性最强的产业之一,期货市场对外开放需求日益强烈。棕榈油期货成为我国首个对外开放的油脂油料品种,是产业风险管理需求和期货市场供给动态均衡的新成果。棕榈油期货以“国际交易、本土交割”实现对外开放,完全符合产业特点,是期货市场扎根产业、服务实体的新举措。棕榈油期货对外开放之后,生产、贸易、加工、消费等全球产业链各个环节,均可在我国期货市场管理价格风险,是我国与全球经济开放同享的新体现。

  With the economic growth and industrial changes in China, the oils and oilseeds industry has gradually become one of the industries with the highest level of openness, the most intense competition, and the strongest connection between domestic and foreign markets. The demand for opening up futures market is increasingly strong. RBD palm olein futures has become China’s first oils and oilseeds product futures that opens to the world, which is a new achievement of the dynamic equilibrium of industrial risk management demand and futures market supply. RBD palm olein futures opens to the overseas investors with “international trading and local delivery”, which fully accords with the characteristics of the industry. It is a new measure for the futures market to take root in the industry and serve the entities. After the opening of RBD palm olein futures, the price risk of all processes of the global industrial chain, including production, trade, processing and consumption, can be managed in China’s futures market, which also reflects China’s opening up and sharing with the global economy.

  当前国际形势复杂多变,我国粮油安全面临考验。我们希望大商所继续发挥价格发现和风险管理功能,助力保障国家粮油安全;我们期待大商所不断创新品种工具,继续扩大开放,助力全球贸易体系出现更多中国价格、中国声音和中国标准。

  At present, the international situation is complex and ever-changing, and China’s grain and oil safety is facing challenges. We hope that DCE will continue to play its role in price discovery and risk management, so as to help ensure the national grain and oil safety. We anticipate that DCE will continue to innovate new tools, and advance opening up, and bring more China’s prices, voices and standards to the global trading system.

  最后,祝大连商品交易所棕榈油期货对外开放圆满成功,在服务实体经济中取得更大辉煌!

  Finally, I wish the opening of DCE RBD palm olein futures to overseas investors a complete success, and wish DCE greater achievements in serving the real economy!

  谢谢大家!

  Thank you!

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