Futures exchange expected to pioneer green development By ZHOU LANXU | CHINA DAILY | Updated: 2021-01-25 07:31 Share CLOSE Aerial photo taken on Aug 19, 2020 shows wind turbines in Jiucaiping scenic spot in Southwest China s Guizhou province. [Photo/Xinhua]
China s new futures exchange in Guangzhou, Guangdong province, is expected to pioneer green finance efforts by launching the country s first futures contract related to carbon emissions, experts said on Sunday.
On Friday, the China Securities Regulatory Commission, the nation s top securities regulator, said it has approved the establishment of the Guangzhou futures exchange in order to realize China s blueprint for the Guangdong-Hong Kong-Macao Greater Bay Area and the pilot free trade zone in Guangdong.
By Addison Gong
25 Jan 2021
In this round-up, Beijing plans to increase oversight of debt management and corporate governance at Chinese lenders, Hong Kong is ready to include Star-listed A-shares into the Stock Connect, and the securities regulator gives the nod to set up a new futures exchange in Guangzhou.
Chinese banks recorded a foreign exchange settlement surplus of $158.7bn in 2020, shows data from the State Administration of Foreign Exchange (Safe). The amount was Rmb1.078tr in renminbi terms.
The total assets of the Chinese banking industry grew 10.1% year-on-year in 2020 to reach Rmb319.7tr, with a 10.2% rise in total debt to Rmb293.1tr, data from the China Banking and Insurance Regulatory Commission (CBIRC) showed.
China’s securities regulator approved the establishment of the Guangzhou Futures Exchange in South China’s Guangdong Province on Friday, making it the fifth futures exchange center in China.
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