The International Fats and Oils Conference was held in Dalian, Liaoning. Guests from many countries were optimistic about the opportunities of the opening up of China's futures market.

China News Service, Dalian, October 14 (Reporter Yang Yi) The 19th International Fats and Oils Conference was held in Dalian, Liaoning Province on the 14th. Participants from many countries expressed their optimism at the meeting about the vast opportunities brought by the opening up of China's futures market.

On October 14, the International Fats and Oils Conference was held in Dalian, Liaoning. Photo provided by the organizing committee

"China is the world's largest oilseed importer and the world's second largest economy. It is opening up, deepening and connecting with the world at an alarming rate. We value cooperation in the Chinese market." Russell Beaty, managing director of the Chicago Mercantile Exchange Group, said that CME Group is happy to see the Dalian Commodity Exchange opening its soybean product series to overseas traders. This move means more participants, stronger liquidity and higher price integrity for the entire soybean product market of DCE, benefiting all traders and strengthening the connection between domestic prices and global prices.

Salim, managing director of Bursa Malaysia, said that in 2024, Bursa Malaysia launched "Bursa Malaysia Dalian Commodity Exchange Soy Oil Futures" based on Dalian Commodity Exchange Soy Oil Futures. For more than two years, the two parties have worked together to help companies better cope with the risks faced by cross-market operations, and have broad space for cooperation in terms of industrial exchanges, knowledge sharing, and the development of risk management solutions that meet the development needs of the Asian commodity ecosystem.

Data show that as of now, the number of specific products directly open to the outside world in China's futures market has reached 38, and qualified foreign investors can participate in 141 trading products. Domestic futures exchanges have successively launched pulp, soybean oil, and natural rubber futures settlement price authorization projects in countries and regions such as Norway, Malaysia, and Japan, realizing the "Chinese price" going global.

Qu Tianshi, a senior economist at Bloomberg, said that in the past two years or so, the core factors that dominate the global financial and commodity markets have surpassed traditional economic variables. The wave of AI technology and geopolitics are becoming the core driving factors that rewrite the logic of global macro operations. In his view, China's economy has now completed the conversion of old and new growth engines, with the technology industry surpassing real estate and becoming the main driving force for economic growth.

This International Fats and Oils Conference is jointly hosted by Dalian Commodity Exchange and Bursa Malaysia. The conference has the theme of "Integration of Industry and Finance, Ecological Co-cultivation, and High-Quality Development", attracting representatives from domestic and foreign institutions, experts and scholars, etc. to attend the conference. (over)