Cotton yarn futures are listed today to improve the textile raw material futures variety system

Improve the textile raw material futures system to better meet the needs of the real economy. Cotton yarn futures were listed on the Zhengzhou Commodity Exchange on August 18. Cotton yarn futures were listed on the Zhengzhou Commodity Exchange on August 18. This is the first commodity listed on the Chinese futures market since 2016. Futures varieties. Fang Xinghai, Vice Chairman of China Securities Regulatory Commission, Dai Bohua, Vice Governor of Henan Province, and Gao Yong, Secretary of the Party Committee of China National Textile and Apparel Council attended the listing ceremony.　　At the listing ceremony, Fang Xinghai said that the cotton textile industry is a traditional pillar industry of the national economy and an important civilian production industry. After the country implemented a pilot cotton target price reform, cotton yarn prices fluctuated more and more, and cotton textile enterprises had strong demand for hedging. Therefore, the listing of cotton yarn futures is not only to serve the needs of the cotton textile entity industry, but also to serve the internal requirements of the national development strategy.　　Fang Xinghai believes that in the current futures market to implement the spirit of the National Financial Work Conference, the following tasks must be done: First, it is better to promote the virtuous circle and healthy development of the real economy and the futures market. We must adhere to the fundamental development direction of serving the real economy and do not deliberately pursue transaction volume. Actively guide industrial enterprises to use futures and options to manage risks and promote the stable and healthy development of related industries. Steadily expand the 'insurance + futures' pilot program, strengthen futures services for small and micro enterprises, 'agriculture, rural areas, and rural areas' and remote areas to help targeted poverty alleviation. The second is to strengthen market supervision and risk prevention and control. It is necessary to conscientiously implement the supervisory concept of 'If there is a risk that is not discovered is dereliction of duty, and if the risk is discovered without prompting and disposing of it is dereliction of dutyViolations of regulations will effectively protect the legitimate rights and interests of investors. The third is to actively and steadily promote the construction of the futures and options market. According to the needs of the real economy, speed up the development and listing of agriculture-related and other futures products, and introduce more new futures options at an appropriate time to better serve the supply-side structural reforms of agriculture and other industries. It is necessary to seize the current favorable opportunity to accelerate the opening up of the futures market.　　 Dai Bohua said that Henan is a major cotton yarn production and consumption province, with its output ranking second in the country and its consumption ranking sixth in the country. The listing of cotton yarn futures will provide new tools for enterprises in the cotton textile industry chain, including Henan enterprises, to manage risks, provide new guidelines for the structural adjustment of the cotton textile industry, and provide new assistance for the reform of target cotton prices.　　 Gao Yong believes that the listing of cotton yarn futures is a great and good thing for the textile industry, which is conducive to promoting the healthy and stable development of the textile industry. The first is to provide hedging tools to help cotton textile enterprises manage risks and realize the smooth operation of the entire industry. The second is to provide authoritative price benchmarks to provide an effective reference for the adjustment of the production capacity and product structure of the cotton textile industry, and to facilitate the implementation of the 'three removals, one reduction and one supplement' policy. The third is to increase the degree of openness of the textile industry and attract foreign capital from outside the industry to pay attention to the cotton spinning industry.　　 Chen Huaping, chairman of the Zhengzhou Commercial Exchange, said at the listing ceremony that cotton yarn futures, together with the already listed cotton futures and PTA futures, have formed a relatively complete system of textile raw material futures. The listing of cotton yarn futures marks another important step taken by ZCE to build a global textile futures trading center and pricing center. ZCE will follow the requirements of the China Securities Regulatory Commission for 'high standards and steady startWork, actively guide textile enterprises to use the futures market, promote the full use of cotton, cotton yarn and PTA futures market functions, better meet the real economy's pricing and risk management needs, and better serve and support the reform of cotton target prices.　　 At the listing ceremony, Fang Xinghai and Dai Bohua jointly launched the listing of cotton yarn futures. Representatives from the National Development and Reform Commission, Ministry of Agriculture, Ministry of Commerce, Securities Regulatory Commission, Henan Provincial Government, Zhengzhou Municipal Government, China Textile Industry Federation, China Cotton Textile Industry Association, China Futures Industry Association, relevant exchanges and news media participated The ceremony. Article keywords: 　The listing of cotton yarn futures