Karimi & Associates Law Firm presents according to Reuters:
Vice chairman of the China Securities Regulatory Commission, Fang Xinghai said China is expected to release its first futures law in 2022 after considering it for years, which will help further regulate the derivatives market.
He also reiterated that China will allow more foreign traders to participate in domestic markets while deepening price influence of existing products such as crude oil, iron ore and PTA, the association’s statement said.
The China Futures Association said in a statement, citing an official from the securities regulator that China will help leading futures companies to speed up their development and encourage qualified firms to be listed.
The regulator will further support the development of futures risk management companies and to steadily expand traders groups, according to the association.
Fang said that authorities would support futures companies to widen and diversify their financing channels and allow them to compete with overseas players. Moreover, he stated that Leading futures firms should “make due contributions” to ensure China’s energy and mineral security.