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08:11, 17-Feb-2019
China speeds up risk management business in futures industry
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China has published guidelines to speed up the launch of risk management operations by futures companies, according to the China Futures Association (CFA).
The guidelines instruct the futures firms to establish subsidiary corporations mainly piloting operation of risk management business.
CFA data showed that by the end of December 2018, there are 79 risk management companies in China's futures industry, 28 more than that in 2015.
The total asset of the risk management companies amounted to 34.42 billion yuan (about 5 billion U.S. dollars), while their business revenue reached 113.25 billion yuan by the end of December last year, according to the CFA.
The guidelines further illustrate the business types, add restrictive measures for unqualified companies and detail the negative lists for the development of risk management business, a CFA official said.
"In the future, the CFA will closely inspect on the development of risk management business carried out by the futures enterprises and make the futures industry better support the real economy," said the official.
Source(s): Xinhua News Agency