我国自贸区与期货市场发展相关的政策、实践及启示

Policies,Practice and Enlightenments Related to the Development of Futures Market in China's Free Trade Zone

我国已经挂牌运行的自贸区进行了各项金融制度创新的先行先试,与期货市场相关的改革也在进行中。通过梳理我国自贸区与期货市场发展相关的政策法规,总结出目前我国自贸区发展与期货市场对接的主要业务实践有期货保税交割、引入境外企业参与特定品种期货交易、探索创新型交易所和设立期货子公司开展风险管理业务。根据已有实践情况,建议未来我国期货交易所可在自贸区内加快进行保税交割业务试点、研发特定品种上市、改革交易及管理制度、探索新的交易平台。

China's Free Trade Zones,which have already been listed and put into operation,have carried out a pilot test of financial system innovation.Reforms related to the futures market are also on going.This paper reviews the policies and regulations related to the development of China's FTZs and futures market,and it summarizes that at present the main business practice docking with the development of futures market in FTZs is futures bonded delivering,Introducing foreign enterprises to participate in trading of specific varieties futures,exploring innovative exchanges and setting up futures subsidiaries to carry out risk management business.According to the existing practice,the paper considers that the futures exchanges in China can accelerate the bonded delivery business experiment,research and develop specific varieties futures to list,reform transaction and management system,explore new trading platforms in the FTZs in future.