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Dalian Commodity Exchange: Accelerating Reforms And Innovations And Serving Real Economy

Date 30/01/2013

On January 26, at the conference of 2012 held by Dalian Commodity Exchange to review experience and honor outstanding units and individuals, the spirits of the national securities and futures regulatory work conference and the disciplinary inspection and supervision work conference within the securities and futures regulatory system were transmitted and studied. DCE Party committee secretary and chairman Liu Xingqiang pointed out at the meeting that in 2013 DCE will, under the guidance of the spirit of the eighteenth National Congress of CPC, thoroughly implement the spirit of the national securities and futures regulatory work conference and the relevant arrangements of CSRC, seize the most favorable historic opportunities involved in the reforms and innovations of futures market, insist on the development direction of serving real economy, pursue the goal of market-oriented development and prompt market to better serve industrial and national economic development.

On the conference, DCE Party committee vice secretary and general manager Li Zhengqiang and disciplinary inspection committee secretary Zhao Qingguo transmitted   the decisions of the national securities and futures regulatory work conference and the disciplinary inspection and supervision work conference of the securities and futures regulatory system respectively. It was concluded at the conference that the national securities and futures regulatory work conference, under the direction of implementing the spirit of the eighteenth National Congress and the requirements of the central economic work conference, made a careful summary of the development achievements of securities and futures markets over the past five years, gave an in-depth analysis of the current situation and the missions of the system, and made an arrangement for the key market tasks in 2013, and provided a guidance for exchange work and market building. The disciplinary inspection and supervision work conference of the securities and futures regulatory system held a definite opinion on and firm attitude towards the move of securities and futures regulatory system to thoroughly promote anti-corruption, and propose higher and more detailed requirements for the future construction of party work style and anti-corruption and would provide a forceful guarantee for the sound and steady development of markets.

Mr. Liu Xingqiang said that in 2012 DCE thoroughly implemented the general requirement of the Central Party Committee and the State Council for “advancing steadily”. Under the implementing steps of CSRC, it has always insisted on the development direction of serving real economy and the market-oriented development goal. And on the basis of making frontline regulation and supervision, preventing and controlling risks and keeping steady market operation, DCE made greater efforts to build the systems of varieties, business and technology, continued to strengthen industrial and market services and achieved steady and sound development of markets. Its capability to serve real economy was further enhanced, laying a solid foundation for the next reform of exchange system and mechanism and innovative development.

He pointed out that now China’s futures market was at a new historic starting point of development and exchanges were facing important strategic opportunities and various challenges as well. In the new circumstances, all DCE staff, with the guidance of the spirit of the eighteenth National Congress and a strong sense of urgency, should integrate the spirits of the national securities and futures regulatory work conference and the disciplinary inspection and supervision work conference of the securities and futures regulatory system with their practical work closely, accelerate market reforms and innovations, promote the steady and sound development of markets, and further enhance the capability and level of futures market in serving real economy. First, we should consciously reform exchange system and mechanism and improve the governance structure composed of “shareholders’ conference, board of directors and board of supervisors, and senior executives”; second, the variety series should be expanded and enriched, the launch of such varieties as coking coal, eggs, iron ore and lumber should be promoted, and research and development and the introduction of follow-up varieties should be strengthened; third, we should continue to amend and improve the launched variety contracts and rules and systems, reduce costs of transactions and delivery, further improve market mechanism, enhance market efficiency and strengthen serving agriculture, farmers, rural areas and industries, to improve the service capability of markets; fourth, we should actively promote the building of a multi-level market system, and integrate futures market with spot market; fifth, we should strengthen risk prevention and control, try every means to ensure the safe and steady market operation, make the development pace match the controllable and bearable capability, and prevent systematic and regional risks; sixth, we should formulate new development strategies and plans of DCE by combining the new development status of markets, and form the new work mechanism to promote market innovation and development.

Another message:

On January 28, DCE held a meeting of cadres at middle and above levels, at which the implementing steps for the activity “of rigorously enforcing thrift and opposing extravagance and waste” were made. The meeting called for a profound understanding of the great significance of rigorously enforcing thrift and opposing extravagance and waste, required us to take actions right now and start from ourselves, to promote thrift and change old bad habits, to arrange activities in a simple way and oppose all types of extravagance and waste, according to the eight requirements made by the central committee of CPC, and the circular of the General Office of the CPC Central Committee, the General Office of the State Council and CSRC on the work during the period of New Year’s Day and the Spring Festival.