Derivatives in China

The CEO of America''s largest futures exchange discusses why derivatives are vital for helping China''s further growth.

China is in ascendancy. Since 1980, Chinese gross domestic product has grown nearly 8% per year, outperforming the record of sustained growth in any other country at any time in history. Foreign investment, exceeding $53 billion in 2003, signals China's importance in the world's economy.

The promise of China's continued economic expansion offers valuable opportunities to develop its derivatives markets for hedging and risk management of financial exposures. My experience suggests that such derivatives markets are...

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