Dalian, Liaoning hosts International Fats and Oils Conference, China’s futures market opens to the outside world and attracts attention

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 conference about the vast opportunities brought by the opening up of China's futures market.

"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 with 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 DCE soybean product market, 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 cross-market operating risks, 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 China’s futures market currently has 38 specific products that are directly open to the outside world, 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.

Liao Huijun, research director of consulting firm Glenauk Economics, said that at present, geopolitics, trade policy and other factors are intertwined, and climate anomaly risks such as strong El Niño have further increased the uncertainty of global agricultural production. Against this background, it is even more necessary to give full play to the price discovery and risk management functions of the futures market, strengthen cooperation with futures markets in many countries around the world, including China, and jointly improve global commodity pricing efficiency and risk management capabilities.

This International Fats and Oils Conference was jointly hosted by Dalian Commodity Exchange and Bursa Malaysia. With the theme of "Integration of Industry and Finance, Ecological Co-cultivation, and High-Quality Development", it attracted representatives from domestic and foreign institutions, experts and scholars to participate in the conference.