The China Futures Association has announced that Beijing will help the country’s foremost futures companies ramp up their development and encourage them to list, reports Reuters. Authorities will support futures companies to widen and diversify their financing channels and help them compete with overseas players, Fang Xinghai, vice chairman of the China Securities Regulatory Commission, told an industry conference on Sunday.
Leading futures firms should “make due contributions” to ensure China’s energy and mineral security, Fang said.
China’s commodities market had been volatile this year amid the uneven global economic recovery, easing liquidity and speculation. Metal and coal futures, for example, surged to historical highs before plunging after government interventions.