Local Hot Spot: Guangzhou Will Build Commodity Futures Delivery Center

Innovate the futures product system and create the "Guangzhou price" of the futures industry; Foster and set up futures companies and gather a number of futures market entities; Build Guangzhou Commodity Futures Delivery Center and risk management center based on futures market; On November 2, the work plan on promoting the high-quality development of futures market and building a risk management center (hereinafter referred to as the "plan") was deliberated and approved by the executive meeting of Guangzhou municipal government.

The reporter learned from the local financial supervision and Administration Bureau of Guangzhou that in order to seize the opportunity of Guangzhou futures exchange's landing, Guangzhou has studied and formulated the "plan", through a series of measures, giving full play to the function of Guangzhou futures exchange, actively creating a good ecological environment for the futures market, improving the industrial chain of Guangzhou futures, and promoting spot and futures With the coordinated development of futures and other real industries and financial industry, the futures industry will become the dominant industry in Guangzhou's financial industry during the "14th five year plan".

Building "Guangzhou price" in futures industry

According to the plan, various supportive policies, such as funds, will be given to fully support the development of Guangzhou futures exchange. Based on the principle of "innovation, marketization and internationalization", we should speed up the construction, improve the financial talent mechanism, introduce high-end futures talents, build a safe and efficient technical system, rely on the resources and industrial advantages of the bay area, closely follow the theme of green development, the construction of Guangdong Hong Kong Macao Bay area and the "belt and road" initiative, We should gradually form a series and diversified innovative product system, create a "Guangzhou price" for the futures industry, deepen foreign exchanges and cooperation, and strive to build the Guangzhou futures exchange into an international first-class futures trading infrastructure.

According to the plan, Guangzhou will give full play to the leading role of the Guangzhou futures exchange, gather a number of high-quality futures operation institutions and risk management institutions, attract a group of high-end futures talents to Guangzhou for development, actively create a good ecological environment for the futures market, vigorously develop financial technology and related industries, serve the futures market, and promote the futures market Futures will develop in coordination with other real industries and financial industries, deepen financial exchanges and cooperation among Guangzhou, Shenzhen, Hong Kong and Macao, build a risk management center based on Guangzhou, radiate the bay area and face the whole country, and help the construction of international financial hub in Guangdong, Hong Kong and Macao.

According to the plan, Guangzhou will take various measures to cultivate and gather a number of futures market entities, including: cultivating and establishing futures companies, supporting the development and growth of futures companies in Guangzhou, supporting the main participants in the futures market to optimize their products and businesses, promoting banks and insurance institutions to actively participate in the futures market, promoting fund companies to actively participate in the futures market, and developing intermediary institutions in the futures market, Support the development of futures related information technology industry and optimize futures related data services.

How to cultivate and set up a futures company relying on the core engine function of Guangzhou in Guangdong, Hong Kong and Macao is the focus of the scheme. According to the plan, it is necessary to explore the establishment of cross-border joint venture and wholly-owned futures business institutions, and encourage financial institutions in Guangzhou to cooperate with financial institutions in Hong Kong and Macao to establish joint-venture financial groups or futures companies. Support futures companies to set up risk management subsidiaries and related institutions in Guangzhou.

Construction of risk management center based on futures market

How to build a risk management center based on futures market is a topic of concern for enterprises. The plan encourages enterprises to strengthen risk management by using derivatives, give full play to the advantages of long industrial chain, numerous upstream and downstream enterprises and developed commodity trading in Guangzhou, and support the upstream and downstream entities of the industrial chain to fully use futures and options to hedge risks, and improve the risk prevention ability of the industrial chain and supply chain to deal with price fluctuations through the linkage method of expectation.

At the same time, the plan proposes to build Guangzhou Commodity Futures Delivery Center, guide physical enterprises to build commodity futures delivery warehouse, and extend the futures industry chain; Encourage and support qualified spot enterprises in Guangzhou to apply for the establishment of bonded delivery warehouses with major commodity futures exchanges across the country; Encourage global suppliers and wholesalers to participate in the delivery warehouse market transactions, and cultivate commodity dealers who operate in combination with futures and current operations. Support the development of warehousing and logistics industry related to futures delivery. In addition, Guangzhou will gather upstream and downstream related enterprises and surrounding service providers around the listed varieties of Guangzhou futures exchange, drive the import and export of commodities, and build a commodity industry cluster area.

Building futures industry cluster area in Nansha

The plan proposes to build a futures industry cluster in Nansha District and build a futures industrial park integrating business office, data processing, disaster backup, product development, technological innovation and conference training. With Guangzhou futures exchange as the core, introduce various futures, fund companies and intermediaries, attract financial institutions related to futures trading and asset allocation to settle down, and build a high-quality carrier of risk management.

In order to create a good ecological environment for the futures market, Guangzhou will set up a futures market think tank, hold high-end futures forums and conferences, carry out futures education and training, and strengthen the education of investors in the futures field.

(source: Nanfang Daily)

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