At the "Finance" annual meeting held in Beijing on December 17th, Dalian Commodity Exchange (DCE) President Liu Xingqiang said that increasing China's right to speak in the international commodities market still requires a longer process, and China's futures exchanges should be encouraged to grow stronger. When the time and conditions are right, strategies for expanding outwards should be implemented.
Mr. Liu said that in recent years, China's futures market has developed rapidly: in the first three quarters of this year, China's commodity futures market's trading volume accounted for over half of global commodity futures trading volume. However, China's right to speak in the international commodities marketplace has not correspondingly improved.
In his view, making China's futures exchanges stronger, and implementing strategies for expanding outwards when the time and conditions are right have great significance. He suggested that the construction of China's futures market should be strengthened so as to truly become an important platform for servicing domestic commodities production and consumption. He also suggested that, given the new developments such as mergers & acquisitions of global exchanges and the setting up of trading terminals all over the world, the influence of China's exchanges be allowed to expand to global scale by using international exchange platforms: this will strengthen China's futures market's right to speak.