The operation of CZCE and the devopment of the futures market in China

Abstract

China Zhengzhou Commodity Exchange (hereinafteeferred to as CZCE) is located in Zhengzhou the capital city of Henan Province in Central Central 9q China. Zhengzhou, on the shore of the Yellow River, is a beautiful city with a long history, temperate climate, convenient transportation and abounds in various products. CZCE was set up on Oct. 12th, 1990, as an experimental futures market designated by the State Council in China. At first, it was known as China Zhengzhou Grain Wholesale Market, mainly engaged in the trading of actual commodities and forward contracts. CZCE formally began the trading of the standardized futures contracts on May 28th, 1993. And on Oct. 10th, 1994, China Securities Regulatory Commission (CSRC) officially declared CZCE to remain a trial commodity futures exchange.