近代中国期货市场的兴起与主要特点

The Rise of Modern China's Futures Market and Its Main Characteristics

受在华外商的影响和刺激,中国商人也尝试进行期货交易和筹设交易所。在交易所产生之前,同业公会、公所暂时充当了交易所的角色,并且出现了类似于期货和约的成单、成票及期货买卖,这是近代中国期货市场的雏形。中国第一家交易所——北京证券交易所的开业和其他各类交易所的设立则意味着近代中国期货市场正式形成,规范化的期货交易制度也随之确立,与此同时还掀起了一次交易所投机狂潮。由于所依存的社会经济环境不同于西方发达国家,因而近代中国期货市场体现出了自身的特点。

Affected by the impact and incentives of foreign investors in China, the Chinese businessmen are trying to set-up for futures trading and exchanges. Before the birth of the exchange, trade associations and hall served as the roles of temporary exchange, and the deal contracts similar to future contracts appeared. This is the embryonic form of modern China＇s futures market. The opening of China＇s first stock exchange - Beijing Stock Exchange- and the establishment of other types of exchange mean that the modern China＇s futures market was formally established and the standardized futures trading system was established. At the same time a frenzy of speculative transactions was set off. Since the dependence of the socio-economic environment is different from the Western developed countries. It reflects that modern China＇s futures market has its own characteristics.