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To date, Dalian Commodity Exchange (DCE) has opened 11 specified domestic products to overseas traders, including futures and options of No. 1 soybean, No. 2 soybean, soybean meal, soybean oil, and RBD palm olein, and iron ore futures. In addition, a total of 14 futures and options including No. 1 soybean, No. 2 soybean, soybean meal, soybean oil, RBD palm olein, iron ore, and linear low density polyethylene (LLDPE), have been made available to Qualified Foreign Investors (QFIs). By the end of 2022, overseas traders from 23 countries and regions have been engaged in the trading of 11 specified domestic products of DCE, with an average daily open interest of 154, 900 lots. Up to now, many futures and options products in China are open to QFIs for trading.
In September 2022, four domestic futures exchanges in China announced that Qualified Foreign Institutional Investors (QFIIs) and RMB Qualified Foreign Institutional Investors (RQFIIs) can participate in the trading of futures and options contracts. This move accelerates the internationalization of China's futures market, representing the high-level opening-up of the futures market. As a matter of fact, overseas traders are actively trading products of several sectors, which brings the functions of these products into full play.
So far, DCE has listed the futures and options of No. 1 soybean, No. 2 soybean, soybean meal and soybean oil, which constitute a key derivatives sector operating in a mature manner. The functions of such products have been brought into full play in both Chinese and international markets. Among them, soybean futures and options of DCE ranked top 40 in terms of trading volume among global futures and options contracts for agricultural products in 2022, while soybean meal futures has ranked first for several consecutive years. As an important step to promote the high-level, rules and institutions-based opening-up of China’s futures market, DCE opens up soybean futures and options to overseas traders. As a result, the soybean futures product suite has become the first sector in China's futures market to open up the entire series as specified products.
Going forward, on the basis of continuously enhancing regulatory ability that adapts to opening-up, DCE will steadily boost rules and institutions-based opening-up of the market and open up more products. By carefully guiding overseas traders’ participation in trading, DCE aims to create a new frontier for opening up, enhance its capacity of serving global industry chains, and make the futures market an important part in China's opening-up.
