China considers listing non GMO soybean contract

Introduction: this week, China Securities Regulatory Commission and Dalian Commodity Exchange held a meeting to discuss the listing of non GMO soybean contracts On Tuesday, senior officials from the CSRC, the Ministry of agriculture, the Institute of Commerce, the development and research center of the State Council, China International Futures Corporation, China Grain and oil import and Export Corporation and the State Grain Corporation attended the meeting to discuss the development prospects of China's soybean contracts and non GMO soybean contracts At present, there is no difference between genetically modified and non genetically modified soybean contracts As long as the quality of imported soybeans meets the requirements of the exchange, they can enter the exchange for delivery However, with the implementation of the GMOs management rules on March 20, GMOs will have to be labeled In addition, the consequences of separating the current contract may produce many uncertainties Because it will be a very complex issue for delivery Said a businessman in Beijing Since Tuesday, rumors of a new contract have been surrounding the Dalian market According to these sources, authorities tend to list non GMO soybean contracts in the early stages of the implementation of the new policy Many analysts believe that such a move actually shows China's desire to stimulate the development of the domestic soybean industry According to the annual report of GSE, the trading volume of soybean contracts in 2001 was second only to that of the Chicago Board of exchange Industry leaders and exchange officials have also said on different occasions that Dashang wants to become the main agricultural futures exchange in Asia This ambitious plan has been doubted by some market participants, because the only active contract variety of Dashang is soybean However, in the first two trading days, although CBOT soybeans weakened, the possibility of contract separation raised soja It is said that the Chinese government will also support this idea, because it is said that China's top leaders have long been dissatisfied with the impact of imported soybeans China imported 13.94 million tons of soybeans in 2001, up 33.8% year on year, according to data released by China Customs on Monday.