07 push the stock index futures in early official start of financial futures.

<P> China Financial Futures Exchange will start next year. .October 24, China Securities Regulatory Commission Chairman Shang Fulin said the General Assembly of financial derivatives, financial futures market in China should be mainly institutional investors, stock index futures early next year, the SFC will also strengthen the bonds and other financial futures .and options products, research and development efforts. .</ P> <P> for the upcoming launch of stock index futures, whether small investors should be encouraged or restricted in a hot debate over a period of time. .Shang Fulin, the clear that China's financial futures markets should be built to a market-based institutional investors, but also of small and medium investors through appropriate means participation. .</ P> <P> He noted that the mature markets of the financial futures market is a market dominated by institutional investors, which is the basic function of financial futures markets, professional characteristics and risk characteristics of the decision. .</ P> <P> Shang Fulin, that the development of financial futures must handle the financial futures market and spot market reforms related to the development of futures markets and OTC derivatives markets inside and financial futures markets and commodity futures markets, standardized development .and coordination of law issues. .Which he called on the relevant competent authorities to establish communication links between the mechanism and regulation of the collaboration efforts. .</ P> <P> commodity futures markets in China after ten years of experience and lessons learned, the Shang Fulin that institution building is necessary to comply with international market experience, but also to fully understand the realities in China based on the risk characteristics of the futures market. .</ P> <P> "any excessive emphasis on the ability of market construction and the initial bias, the pursuit of short-term behavior of market activity, the market could harm long-term development." He said. .</ P> <P> passion for those who look forward with great expectation of financial futures intermediaries, Shang Fulin's advice is: be on the market to determine the form of an accurate, reasonably be expected to proceed from reality, making choices according to their own advantage. .</ P> <P> He said that the construction market, financial institutions, focusing on functioning. .Should safeguard national economic and financial security, and deepening the reform of financial capital, as the basic starting point. .Therefore, to study the introduction of the right products, reasonable design and market structure, the development of financial futures, and the establishment of a long process. .</ P> <P> in the usual caution, the Shang Fulin reminder, the development of financial futures markets must handle the relationship between the development and supervision, so that the speed of innovation, regulatory efforts and market risk tolerance level of unity. .</ P> <P> recent years, the international market commodity prices in history there has never been volatility, but the domestic futures market basically stable operation. .Shang Fulin, the view that the facts have proven that multi-party cooperation and centralized regulatory system is successful, is in line with China's national conditions. .</ P>.