May 19 2007
Beijing sets up futures safety net
China plans to establish a fund to protect investors against failures and mismanagement at futures brokerages. The rumor that China is launching a index futures is true and imminent. Many had predict in July. The initial target for the fund is 800m RMB, about US$104m, small, but a good first step. They had established China Financial Futures Exchange Sept 2006, but the launch of the 1st product had be delayed since, in fear that it might rattle an already volatile market. Business wise, China is copying everything American … meanwhile the two are constantly in fighting with each other, 逗气冤家 lol …