August 19, 2008


China's futures market doubles in value thanks to active trading


China's futures market recorded a transaction volume of 689 million contracts and transaction value of RMB 41.45 trillion in the first seven months of the year, soaring 138.14 percent and 128.26 percent on-year, respectively.


Futures transactions reached 112 million contracts and valued RMB 6.45 trillion in July, up 97.74 percent and 75.72 percent from the same month of 2007, according to China Futures Association.


Actively traded items include soy, meals, white sugar and aluminium.


Shanghai Futures Exchange, Zhengzhou Commodity Exchange and Dalian Commodity Exchange respectively posted RMB 16.7 trillion, RMB 8.75 trillion and RMB 15.97 trillion of transaction value in the first seven months this year.


Despite active trading, experts warned that China's futures brokerage companies are facing slim profit margins due to fierce competition, mismanagement and a highly fragmented market.


(US$1= RMB 6.87 )

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