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

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

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

大连商品交易所党委书记、理事长    冉 华

Ran Hua, Secretary of the CPC Committee and Chairman of Dalian Commodity Exchange

2020年12月22日 大连

December 22, 2020, Dalian

  尊敬的靳国卫副市长、严绍明副主任、于海联局长,

  Distinguished Mr. Jin Guowei, Vice Mayor of Dalian; Mr. Yan Shaoming, Deputy Director of Department of Futures Supervision of CSRC; Mr. Yu Hailian, Director of Dalian Securities Regulatory Bureau of CSRC,

  各位领导、各位嘉宾、云端上的各位朋友:

  Leaders, guests, and friends online,

  大家上午好!

  good morning!

  今天,一边是北国的冬日暖阳和煦,一边是南国的木棉挺拔静穆。很高兴与各位朋友相聚云端,在2020年即将收官之际,共同见证棕榈油期货引入境外交易者。这是我国资本市场践行高水平对外开放的积极作为,也是立足国内大循环,促进国内国际双循环格局的实际行动。

  Today, while it is a sunny winter day here in northeast China, those tall kapok trees in southern China are basking in spring-like warm weather. I am very pleased to meet all of you online to jointly witness the overseas investors’ participation in the DCE RBD palm olein futures trading at the end of 2020. This is an active endeavor for China’s capital market to implement high-quality opening up, as well as a real action to help establish a new“dual circulation”development pattern that is based on domestic economic cycle.

  在此,我谨代表大连商品交易所,向出席本次活动的各位领导、各位嘉宾表示热烈的欢迎!向长期以来关心支持大商所发展的各界朋友表示衷心的感谢!

  On behalf of DCE, I would like to extend a warmest welcome to all the leaders and guests attending this event, and express my heartfelt thanks to all the friends who have supported the development of DCE for a long time!

  2007年,大商所上市棕榈油期货,这是我国首个全进口商品期货品种。13年来,棕榈油期货立足国内国际两个市场,兼顾贸易、加工等多方市场需求,已发展成为全球最大的棕榈油期货市场。今年前11个月,大商所棕榈油期货成交近2.9亿手,日均持仓量52万手,较去年同期均显著增长。目前,棕榈油现货贸易采用大商所价格进行基差定价,我国大型油脂企业、在华跨国粮油企业均利用棕榈油期货开展风险管理。

  In 2017, RBD palm olein futures was listed on DCE, making it China’s first futures product for solely imported commodities. Over the past 13 years, DCE has become the world’s largest RBD palm olein futures market by leveraging domestic and foreign markets and meeting diverse needs in terms of trade and processing, etc. From January to November this year, the trading volume of palm olein futures on DCE reached nearly 290 million lots, and the average daily open interest was recorded to be 520,000 lots, both of which have grown significantly compared with the same period last year. At present, the futures price at DCE is used as the basis price for basis trading of palm oil in China. Many Chinese large oils and oilseeds companies and multi-national grain and oil companies in China also use RBD palm olein futures for risk management.

  2018年,铁矿石期货作为首个已上市品种率先向境外投资者开放。两年多来,我们脚踏实地,大胆探索,积极推进市场国际化建设步伐。作为全球第二大棕榈油进口国,中国在棕榈油产业链和供应链的地位举足轻重,国内外棕榈油产业一直呼吁我国开放棕榈油期货市场。今天,我们响应市场呼声,棕榈油期货国际化正式起航。

  In 2018, iron ore futures became the first listed product that opened to overseas investors. Over the past two years, we have worked hard and proactively promoted the market internationalization. China is the world’s second largest importer of palm oil, playing a key role in the palm oil industrial and supply chain. Therefore, the industry both at home and abroad has been calling for China’s opening of its RBD palm olein futures market. Today, by responding to this call, DCE is proud to announce the internationalization of RBD palm olein futures officially starts.

  我们深知,不积跬步无以至千里。在期货市场国际化的探索上,大商所将扎实细致的做好相关落地实施工作,不断提升市场运行质量和效率,为全球产业企业提供公开透明的价格发现平台,为全球商品贸易提供有序规范的风险管理渠道,在面向世界、扩大开放的道路上不断开拓进取,创新突破!

  As a Chinese saying goes, “a journey of a thousand miles begins with a single step”. In exploring the futures market internationalization, DCE will make every effort to implement this strategy, and improve the market operation quality and efficiency. Our objectives are to provide an open, transparent price discovery platform for industrial enterprises all over the world, and to build an orderly and standardized risk management channel for global commodities trade. By doing so, we will forge ahead and constantly innovate to expand our opening up.

  各位嘉宾、朋友们,站在两个一百年奋斗目标的历史交汇点,面对开放合作的历史潮流,大商所将紧紧围绕建设“规范、透明、开放、有活力、有韧性”的资本市场,坚持服务面向实体经济,创新紧跟国际步伐,加快建设期货现货结合、场内场外协同、境内境外连通的国际一流衍生品交易所,为增强全球资源配置能力和中国经济高质量发展作出更大的贡献。

  Ladies and gentlemen, dear friends, standing at the historical juncture of realizing China’s Two Centenary Goals and facing the historical trend of open and win-win cooperation, DCE will focus on building a “standardized, transparent, open, dynamic and resilient” capital market. We will adhere to the principle of orienting our services towards the real economy and aligning our innovation with the global pace. We will speed up the building of a world-class derivatives exchange that integrates futures and physical, synergizes exchange and off-exchange, and connects domestic and overseas markets, so as to make greater contribution to enhancing global resource allocation and advancing the high-quality development of China’s economy.

  谢谢大家!

  Thank you!

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