我国开设股价指数期货的必要性和现实性

Indispensibility and Feasibility of Opening Index Futures in China

目前我国推出股票价格指数期货合约交易不仅是必要的 ,而且是可行的 ,上市股指期货交易的条件已经具备 ,时机已经成熟。有关管理层应尽早推出我国的股价指数期货合约的交易 ,一方面为个人和机构股市投资者提供一种新的有效的证券避险和投资手段 ,分散股市投资风险 ,有利于股市的健康发展 ;另一方面 ,进一步丰富我国金融衍生投资工具 ,促进期货和证券市场的发展 ,提高我国的国际金融地位。同时 ,由于竞争性期货交易机制的价格发现功能 ,股指期货可进一步加强股票指数作为宏观经济晴雨表的预警作用 。

This paper considers that setting up transaction of index futures contracts in China is not only essential but also feasable.The condition of setting up index futures transaction in our country has been possesed and the opportunity has been matured.The authorities concerned put out transaction of our index futures contracts as early as possible,it provides an effective method of avoiding stock risk and investment for individual and organizational investors in the stock market,disperses investment risk so as to be beneficial to sound development of stock market;on the other side,it increases our financial investment means,promotes our futures and stock markets development and raises our international financial position.Simultaneously,because of price-finding function of futures transaction competition,index futures can enhance the prior-warning action of the index as macro-economy barometer and offers decision refrences for macro-economy control.