China's derivatives market

March 2006 marked the second anniversary of the date on which the rules on derivatives business by financial institutions in the PRC came into effect.

March 2006 marked the second anniversary of the date on which the rules on derivatives business by financial institutions in the PRC came into effect.

When they were issued by the China Banking Regulatory Commission CBRC, the rules represented a significant shift in the official attitude towards derivatives, at least as far as financial institutions were concerned. Previously, such institutions could only engage in derivative transactions for ôhedgingö purposes but not for ôspeculativeö purposes pursuant to a circular issued...

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