China's futures market saw its trading volume from January to July increased by more than 23 percent, according to the China Futures Association.
In the first seven months of the year, the trading volume of the futures market in China increased by 23.11 percent to 5.135 billion lots, and the total turnover surpassed 411.04 trillion yuan in the period, up 23.09 percent year on year.
In July, the trading volume increased by 48.89 percent year on year to 1.059 billion lots, bringing the total turnover to 71.31 trillion yuan (about 9.93 trillion U.S. dollars), a year-on-year increase of 36.03 percent.
"Trading volumes and prices both went up in July, with transaction volume, turnover and open interest all rebounding. Commodity futures and financial futures were active simultaneously. The two major sectors of futures and options were active as well. New energy metals, ferrous building materials and financial derivatives were the three major growth drivers, which lashed out at the same time," said Wang Jun, vice president and chief expert of Gelin Dahua Futures Company.
Major futures exchanges in the countries saw different levels of trade growth from January to July.
The cumulative trading volume of Guangzhou Futures Exchange reached 249 million lots with a turnover of 12.36 trillion yuan, representing year-on-year increases of 156.78 percent and 109.53 percent, respectively.
The Zhengzhou Commodity Exchange saw its cumulative trading volume reaching 1.785 billion lots with a turnover of 52.27 trillion yuan, up 26.05 percent and 5.81 percent respectively.
Analysts said multiple factors have contributed to the growth of the futures market this year.
"This year, the market has successively listed several futures and options products such as cast aluminum alloy, pure benzene and propylene. The market has further enriched the risk hedging tools. Now there are 24 specific products open to foreign capital and 91 tradable products of Qualified Foreign Institutional Investors (QFII). All these factors have all contributed to expanding the market and making it more active," said Wu Yajun, secretary-general of the China Futures Association.
Jan-July trading volume of futures market up 23.11 pct
