China to launch new futures products in Q3

BEIJING (AFX-ASIA) - Several new futures products, including rice, corn, sugar and cotton, will be launched on the country's three futures exchanges in the third quarter of this year, in a bid to revitalize the sector, the China Daily Business Weekly reported, citing Kang Huanjun, director of the Futures Department of the Chinese Securities Regulatory Commission. 	    "The promotion of new market-oriented products on the futures market will be our major goal in the coming months as a way to stimulate the market," Kang said.	    There are currently 12 commodity futures products traded in China, including soybean and metals, the paper said. 	    Wu Heqing, president of the Shanghai Futures Exchange, said other futures products including oil, steel and market index futures may also be launched in the future, the paper reported.	    Wu is heading a team responsible for research into possible futures products. 	    The Business Weekly said the financial authorities aim to revive growth in the futures industry following harsh regulatory adjustments in the mid 1990s which became necessary as a result of overheated growth in the first half of the decade. 

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