Pochodne instrumenty finansowe notowane na giełdach Chińskiej Republiki Ludowej

Sławomir Antkiewicz


Derivatives on the stock exchange of the People’s Republic of China

This paper presents the derivatives market in China. The constantly expanded, wide and standardized range of derivatives offered has increased in attractiveness to both local and foreign investors. Among the range of quoted derivatives on Chinese stock exchanges, we can distinguish financial and commodity products.

Derivatives which are based on stocks and bonds are quoted on the following stockexchange markets: the China Financial Futures Exchange and the Shanghai Stock Exchange.
Derivatives based on commodities are quoted on three stock-exchange markets: the Shanghai Futures Exchange (eighteen futures and three options); the Dalian Commodity  Exchange (nineteen futures and three options); and the Zhengzhou Commodity Exchange (twenty futures and four options).
In spite of their complex and complicated form, derivatives are gaining more and more popularity in the PRC. Data from stock-exchange market reports regarding derivatives trading show a strong upward trend and great interest among investors. The rapidly developing Chinese economy requires more and more new hedging methods, which favors the extension of stock-exchange offers with derivatives. The PRC achieves above-average turnover increases in derivatives in terms of quantity. Only the financial crisis in 2017 caused the level of interest in derivatives to decrease.