China's futures market recorded robust growth in May, driven by active trading in industrial metals and supported by the country's steady economic recovery, industry data showed on Tuesday.
According to the China Futures Association, the country's futures market recorded a trading volume of 709 million lots in May, up 4.54 percent year on year while its total trading value reached 70.61 trillion yuan (about 10.43 trillion U.S. dollars), an increase of 29.01 percent from a year earlier.
The non-ferrous metals sector remained one of the most active segments of the market. The trading volume of tin futures surged 188.55 percent year on year in May, while copper and aluminum futures rose 20.59 percent and 28.81 percent, respectively.
Performance in the precious metals sector was mixed. The trading volume of silver futures increased 12.55 percent from a year earlier, while the gold futures trading volume fell 54.63 percent.
Market analysts said China's steady economic growth and improving corporate profitability are expected to continue providing fundamental support for the futures market.
"Industrial non-ferrous metal products are supported by demand from the real economy, making market performance relatively resilient. They are suitable for swing trading and hedging strategies that align with industrial fundamentals. Gold, meanwhile, remains constrained by the high-interest-rate environment in the short term and is likely to stay in a pattern of weak fluctuations," said Xu Di, assistant general manager of Guoyuan Futures Co., Ltd.
China's futures market turnover rises 29 pct in May
Indonesia's first locally born baby panda Rio has attracted crowds of people to the Taman Safari Indonesia (TSI) in Bogor, south of Jakarta, since he was officially introduced to the public late last month, with visitors excited to catch a glimpse of the safari's most famous resident.
Rio was born on Nov 27 last year, weighing just 200 grams, but has since developed into a healthy 11 kilogram male as he made his public debut on May 30.
The cub was conceived by Chinese-loaned pandas Cai Tao and Hu Chun, and is Indonesia's first giant panda bred in captivity.
Many Indonesians used to have to travel all the way to China if they wanted to see a baby panda. Now, they are delighted to have a beloved bear right at home.
"I am grateful that Taman Safari Indonesia has been given the opportunity to build good bilateral relations between Indonesia and China. This is an activity that I think has a direct impact not only on people who love pandas, but can also be a learning medium, including for students who today come in large numbers. I am very happy because finally Taman Safari has been able to breed a panda after three failed trials. So, it's all just very touching," said Dr. Missie Gustini, a visitor.
Rio lives in a lavish structure called the Panda Palace along with his parents, who arrived from China in 2017 in an act of "panda diplomacy" which aimed to mark 60 years of ties between Indonesia and China.
Rio is taken as a shortened version of his full name, Satrio Wiratama, which means 'brave' and 'noble warrior'. The team at the safari say this name was chosen to symbolize the conservation partnership between Indonesia and China.
"The main message is about conservation. I think conservation doesn't see countries, doesn't see boundaries. When you talk about conservation, a Chinese animal, we can do conservation in Indonesia. Indonesian animals, you can do conservation in Europe. So, if you're an expert in Europe, you're an expert in Africa, you can contribute to conservation for the whole world. I think having this baby Rio is just, what do you call it, it's kind of opened up the possibilities for conservation efforts all over the world, for all of the species, especially the endangered species all over the world," said Aswin Sumampao, president director of the Taman Safari.
Indonesian-born giant panda cub enjoys popularity after meeting public
