Shanghai Takes 40 Percent of China's Futures Transaction

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Last updated at: (Beijing Time) Thursday, October 03, 2002

Shanghai Takes 40 Percent of China's Futures Transaction

Shanghai Futures Exchange posted transactions worth 867 billion yuan (104.5 billion US dollars) during the first eight months of this year, accounting for 40 percent of the country's total.

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Shanghai Futures Exchange posted transactions worth 867 billion yuan (104.5 billion US dollars) during the first eight months of this year, accounting for 40 percent of the country's total.

The latest statistics released by Shanghai Futures Exchange indicate that more than 10,000 investors opened accounts for copper futures from January to August, up 28 percent compared with the same period last year.

During the period, the contracted transaction volume on copper futures jumped to 577 billion yuan (69.5 billion dollars), a rise of 50 percent over the same period.

The contracted transactions volume for aluminum futures reached206.5 billion yuan (24.9 billion dollars) in Shanghai during the time, double the figure of the same period last year.

While Shanghai's futures deals for natural rubber were worth 83.1 billion yuan (10.0 billion dollars), 30 times more than that of the same period last year.

Sources from the Shanghai Futures Exchange said the agency is developing new commodities on the futures market, including polished long-grained nonglutinous rice and petroleum.

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