China to introduce glass futures trading
Updated: 2012-11-08 14:35
By WU YIYAO in Shanghai (chinadaily.com.cn)
An official has said the launch of glass futures trading in China has been approved and will soon be introduced, China Securities Journal reported on Wednesday.
Zhang Yujun, deputy head of the China Securities Regulatory Commission, said the State Council has approved the launch of glass futures trading at Zhengzhou Commodity Exchange, according to the Journal report.
Trading of coking coal, vegetable seeds, potato and egg futures are also under preparation, said Zhang, but he did not specify the schedule for the launch.
Glass futures trading will become the second newly listed futures in China this year after silver futures trading was introduced in May at Shanghai Futures Exchange.
In the first 10 months this year, China's futures market saw a total number of 1.15 billion transactions, a 32.5 percent year-on-year growth with turnover of 135 trillion yuan, a 18.4 percent year-on-year increase.