China's futures market has seen rapid growth in transaction volume in July.

That's up 76 percent from a year earlier. Meanwhile, in the first seven months of 2008 transaction volume in China's futures markets surged a whopping 128 percent, year on year. Analysts attribute the hike to sharply fluctuating farm product prices on the global market.

They say an improving domestic market environment has also contributed to the increase. In Shanghai, the Futures Exchange saw transaction volume climbing nearly 10 percent in July to reach 2.7 trillion yuan. That accounted for almost half of the country's overall volume.

Besides, Zhengzhou and Dalian commodity exchanges both saw remarkable increase in transaction volume in July, rising over 250 percent and 190 percent, respectively.

(CCTV August 5, 2008)