China's futures market records robust growth in November

China

China's futures market records robust growth in November

2024-12-06 16:05 Last Updated At：18:17

China's futures market registered double-digit year-on-year growth in turnover last month, data from the China Futures Association showed on Friday.

The total turnover hit 62.19 trillion yuan (8.57 trillion U.S. dollars) in November, representing a year-on-year increase of 13.28 percent, while trading volume reached 678 million lots, marking a 14.3 percent decline compared to the same period last year.

Among the most actively traded futures in November were gold, glass, palm oil, lithium carbonate, and the CSI 1000 Index futures.

Notably, trading volumes for feed breeding, oils and oilseeds, nonferrous metals, precious metals, and new energy metals futures saw significant month-on-month increases. Futures linked to battery production, such as nickel and lithium carbonate, posted especially strong growth, with trading volumes surging by more than 30 percent month on month.

The oils and oilseeds experienced heightened activity, reflecting increased hedging by spot market traders to manage raw material price risks. Palm oil futures, in particular, saw a significant spike in trading volume. Futures and options in the edible oils sector have provided risk management tools for the recovery of the country's catering, breeding, and oil processing industries this year.

Additionally, in the first 11 months of this year, China's futures market achieved a total turnover of 561.99 trillion yuan, with the cumulative trading volume of 7.074 billion lots. By the end of November, the country had 143 listed futures and options products.

ROK president calls for learning lesson from anti-aggression history

The Republic of Korea (ROK) and China should cherish the historical experience of jointly resisting aggression and continue to work together for a prosperous future, said ROK President Lee Jae Myung.

At the invitation of Chinese President Xi Jinping, Lee will pay a state visit to China from Jan 4 to 7. It will be Lee's first visit to China since he took office last year.

In an interview with China Media Group (CMG) in Seoul on Wednesday, Lee said that humanity must learn from the past to prevent the tragedy of war from repeating itself.

"While pursuing their own national interests to the fullest extent, countries must not harm the national interests of others, but should coexist peacefully. The act of invading other countries and massacring their people for one's own benefit must never be repeated. History of humanity often repeats itself, therefore we must learn from the past. In this regard, I believe the historical experience of ROK and China in resisting aggression and fighting together is invaluable. Of course, while historical experience is important, we cannot remain stuck in the past. For a better future for the people of both countries, we need to continuously explore possibilities for working together towards the future," said the president.