Tian Yuan: the futures industry will be optimistic about China for a long time after entering WTO

Introduction: Tian Yuan, chairman of China Futures Association, pointed out at the "futures market Symposium" held in Shanghai yesterday that China's futures industry is facing better market development opportunities, and strengthening industry self-discipline is still the primary task of the futures industry at present and for quite a long time to come The futures industry should vigorously promote and encourage innovation Tian Yuan said that after going through the initial 10-year detour, the futures industry which has completed the governance and rectification has started a new development mileage For the development prospect of the futures industry, the industry must have firm confidence and understand the problem from the perspective of national economic development Facing the new situation of China's entry into WTO, the position, task and role of futures industry will also change This is mainly because the inherent "protective barrier" of China's economy will disappear, and China's economy, which is directly connected with the world economy, will face a net increase in risks China urgently needs to develop risk management industry and related markets From the perspective of international development experience, futures and options market is exactly the core of risk management market Therefore, China's futures market, which has considerable talents, experience and regulatory basis, will have a long-term upward development momentum after China's accession to the WTO He predicted that in the next five years, the trading scale of China's futures market will keep doubling every year Tian Yuan also pointed out that the near "zero sum" operation characteristics of the futures industry have led to more disputes and problems derived from the industry than other factor markets, so self-discipline management has risen to the "lifeline" of the futures industry, and every enterprise and employee in the industry should incorporate self-discipline into the daily code of conduct, through their own behavior constraints and everyone's The common will restrains a few people and manages them well It is reported that the futures industry association will introduce the "white list system" and establish a dynamic database to record the resumes and rewards and punishments of employees for the reference of the whole industry At the same time, the association will also consider establishing a three-level self-discipline management mechanism First, it will try to play the role of the board of directors and the administrative team of the exchange to resolve the disputes in the industry If it fails to do so, it can further complain to the association, and resolve the disputes through democratic decision-making by holding an expert demonstration meeting In the case that neither of these two levels can solve the problems, it will then submit to the relevant departments of the CSRC or to The judiciary filed a lawsuit It is reported that in the future, on the basis of holding a Council every year, the futures industry association will hold a quarterly meeting every quarter to convene a meeting of the industry to discuss and conspire for development.