China will accelerate the rollout of new commodity futures and options including natural gas, refined oil and peanuts as it sets out to develop its derivatives market amid increasing demand, a senior securities regulator said on Saturday.
Fang Xinghai, vice chairman of the China Securities Regulatory Commission, told a forum in Shenzhen that a planned expansion of China's capital markets would require a more sophisticated financial derivatives market.
"Currently, China's financial futures and options market is at an early stage of development," Mr Fang said in a speech published by the China Futures Association.
"It far lags market participants' growing needs to manage their risks. It also fails to keep pace with China's economic development and financial reforms."
But growth in the commodities futures market is "encouraging", he added.
China this year launched 12 new commodity derivative products.
Total futures trading turnover jumped 46% during the first 11 months of 2020 to 382.5 trillion yuan ($58.53 trillion), fueled by rising risk-hedging needs due to the coronavirus.
Institutional holdings in the commodities market jumped by 38 per cent, Mr Fang added.
Hog futures will be launched on January 8, and China will also look into carbon futures to help Beijing meet its pledge to become carbon neutral by 2060, he said.
Addressing the same forum, Zhengzhou Futures Exchange chairman Lu Dongsheng said his exchange would "make every effort" to prepare for the launch of a wide range of new futures products, including peanuts, chicken, steel billet, caustic soda and paraxylene.
Zhengzhou would also deepen research and development into new futures such as potatoes, sunflower seeds, garlic, cement and propylene, he added.
Separately, the Shanghai Petroleum and Natural Gas Exchange said over the weekend that it has launched an innovative business model that allows group purchases for liquefied natural gas (LNG) tenders.
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Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
Company: Instabug
Founded: 2013
Based: Egypt, Cairo
Sector: IT
Employees: 100
Stage: Series A
Investors: Flat6Labs, Accel, Y Combinator and angel investors
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25-MAN SQUAD
Goalkeepers: Francis Uzoho, Ikechukwu Ezenwa, Daniel Akpeyi
Defenders: Olaoluwa Aina, Abdullahi Shehu, Chidozie Awaziem, William Ekong, Leon Balogun, Kenneth Omeruo, Jamilu Collins, Semi Ajayi
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If you go
The flights
Etihad (etihad.com) flies from Abu Dhabi to Luang Prabang via Bangkok, with a return flight from Chiang Rai via Bangkok for about Dh3,000, including taxes. Emirates and Thai Airways cover the same route, also via Bangkok in both directions, from about Dh2,700.
The cruise
The Gypsy by Mekong Kingdoms has two cruising options: a three-night, four-day trip upstream cruise or a two-night, three-day downstream journey, from US$5,940 (Dh21,814), including meals, selected drinks, excursions and transfers.
The hotels
Accommodation is available in Luang Prabang at the Avani, from $290 (Dh1,065) per night, and at Anantara Golden Triangle Elephant Camp and Resort from $1,080 (Dh3,967) per night, including meals, an activity and transfers.
COMPANY PROFILE
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Defence review at a glance
• Increase defence spending to 2.5% of GDP by 2027 but given “turbulent times it may be necessary to go faster”
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Sand storm
- Particle size: Larger, heavier sand grains
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Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Which honey takes your fancy?
Al Ghaf Honey
The Al Ghaf tree is a local desert tree which bears the harsh summers with drought and high temperatures. From the rich flowers, bees that pollinate this tree can produce delicious red colour honey in June and July each year
Sidr Honey
The Sidr tree is an evergreen tree with long and strong forked branches. The blossom from this tree is called Yabyab, which provides rich food for bees to produce honey in October and November. This honey is the most expensive, but tastiest
Samar Honey
The Samar tree trunk, leaves and blossom contains Barm which is the secret of healing. You can enjoy the best types of honey from this tree every year in May and June. It is an historical witness to the life of the Emirati nation which represents the harsh desert and mountain environments
About Karol Nawrocki
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Country: Galway, Ireland
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The%20specs
Explainer: Tanween Design Programme
Non-profit arts studio Tashkeel launched this annual initiative with the intention of supporting budding designers in the UAE. This year, three talents were chosen from hundreds of applicants to be a part of the sixth creative development programme. These are architect Abdulla Al Mulla, interior designer Lana El Samman and graphic designer Yara Habib.
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It is led by British contemporary design project specialist Helen Voce and mentor Kevin Badni, and offers participants access to experts from across the world, including the likes of UK designer Gareth Neal and multidisciplinary designer and entrepreneur, Sheikh Salem Al Qassimi.
The final pieces are being revealed in a worldwide limited-edition release on the first day of Downtown Designs at Dubai Design Week 2019. Tashkeel will be at stand E31 at the exhibition.
Lisa Ball-Lechgar, deputy director of Tashkeel, said: “The diversity and calibre of the applicants this year … is reflective of the dynamic change that the UAE art and design industry is witnessing, with young creators resolute in making their bold design ideas a reality.”
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Call of Duty: Black Ops 6
Developer: Treyarch, Raven Software
Publisher: Activision
Console: PlayStation 4 & 5, Windows, Xbox One & Series X/S
Rating: 3.5/5
Tips for job-seekers
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David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East
House-hunting
Top 10 locations for inquiries from US house hunters, according to Rightmove
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Price, base: From Dh77,900
Engine: 2.5L, in-line four-cylinder
Transmission: Continuously variable transmission
Power: 170hp @ 6,000rpm
Torque: 233Nm @ 4,000rpm
Fuel economy, combined: 8.3L / 100km
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