The caution among Chinese regulators that has put the introduction of financial futures in the country on indefinite hiatus has shown no sign of abating, with regulatory sources saying the listing of products on China Financial Futures Exchange will not happen in 2008.
However, the prospects for international involvement in China’s existing futures markets have improved, with China Securities Regulatory Commission’s futures regulatory department director Yang Maijun telling a derivatives forum in Shanghai that the market would slowly be opened.
“CSRC will cautiously open the futures market to the outside world,” Yang said, adding that “policies will be worked out soon to allow investors from Hong Kong and Macao to purchase shares from mainland futures companies.”...