Futures prove a perfect fit for booming economy

With a widening product variety and deepening liquidity pools, the mainland's futures market is playing an increasingly important role in serving the national economy.

Zhengzhou Commodity Exchange (ZCE), the first experimental futures market approved by the State Council, was established on Oct 12, 1990. The ZCE, which started with forward contract trading, launched its first futures contracts on five agricultural products - wheat, corn, soybean, green bean and sesame on May 28, 1993.

It still specializes in agricultural and chemical product futures, including hard white wheat, strong gluten wheat, sugar, cotton, rapeseed oil and PTA, a petroleum-based chemical product.