Innovation and development of Chinese futures market under the circumstances of global financial crisis

摘要

The global financial crisis triggered by subprime mortgage crisis in the USA has induced global economic recession, drastic fluctuation of the staple commodities' prices, and increasing risks of the commodity market prices. Chinese futures market, as an important component of Chinese financial market, survived the baptism of the global financial crisis and obtained new opportunities of development. However, Chinese futures market runs into a lot of barriers, such as a unsound legal system, no-extensive participants, unreasonable structure of investors, shortage of futures varieties, and inadequateness of internationalisation, etc., which is going against the function of Chinese futures market and severely hindering its continuous development. A series of innovative countermeasures have been put forward in order to energetically deal with the challenges of the global financial crisis, seriously overcome all sorts of the barriers, make great efforts to build up Chinese characteristics of futures market in China, and provide more efficient services in favour of Chinese economy kept going stably and rapidly.