In the first 11 months this year turnover in China's futures
market exceeded 19 trillion yuan (US$2.4 trillion). This is up 58
percent on the same period of 2006.
Figures from the China Futures Association show more than 403
million transactions on the futures market in the past 11 months.
This is a rise of 41 percent.
November saw a particularly sharp rise with more than 56 million
transactions. This is 85 percent up on last November. The growth is
attributed to a bullish agricultural products market -- in
particular corn, soybeans and wheat.
The number of corn transactions exceeded one million for the
first time on November 10 and rose to a record 1.65 million on
November 27 with futures prices soaring by 9 percent from 1,516
yuan (US$193.6) to 1,649 yuan (US$210.6) per ton.
One of China's three major futures markets, the Shanghai Futures
Exchange, saw a turnover of 1.1 trillion yuan (US$140.5 billion) in
November. This accounted for 50 percent of the national total.
The total turnover of the Shanghai Exchange rose 95 percent
year-on-year to 11.5 trillion yuan (US$1.47 trillion) in the first
11 months. Established in 1999 the commodities traded on the
Shanghai market are copper, aluminium, rubber and fuel oil.
The Dalian Commodity Exchange saw 214.5 million transactions, up
41 percent, as the value of deals rose to 4.67 trillion yuan
(US$596.5 billion). This is a rise of 12 percent.
The Dalian Exchange, the largest futures market for agriculture
goods, deals in corn, soybeans and bean oil.
The Zhengzhou Commodity Exchange saw turnover rise 47 percent
year-on-year to 2.9 trillion yuan (US$370 billion) in the past 11
months.
(Xinhua News Agency December 4, 2006)