Zhengzhou Commodity Exchange (ZCE; ), established in 1990, is a

futures exchange A futures exchange or futures market is a central financial exchange where people can trade standardized futures contracts defined by the exchange. Futures contracts are derivatives contracts to buy or sell specific quantities of a commodity or ...

Zhengzhou Zhengzhou is the capital of Henan, China. Located in northern Henan, it is one of the nine National central city, national central cities in China, and serves as the political, economic, technological, and educational center of the province. Th ...

, one of the four futures exchanges in

China China, officially the People's Republic of China (PRC), is a country in East Asia. With population of China, a population exceeding 1.4 billion, it is the list of countries by population (United Nations), second-most populous country after ...

. The ZCE is under the vertical management of

China Securities Regulatory Commission The China Securities Regulatory Commission (CSRC) is a government agency directly under the State Council of the People's Republic of China. It is the main regulator of the securities industry in China. History Indicative of the role of the C ...

(CSRC). The ZCE is a member of the

China Futures Association The China Futures Association (CFA) is a membership organization under the China Securities Regulatory Commission (CSRC), which regulates and supervises the futures industry in China. It is established as a nonprofit organization in which all Ch ...

Products

ZCE specializes in agricultural and chemical product futures, including hard white wheat, strong gluten wheat,

sugar Sugar is the generic name for sweet-tasting, soluble carbohydrates, many of which are used in food. Simple sugars, also called monosaccharides, include glucose Glucose is a sugar with the Chemical formula#Molecular formula, molecul ...

cotton Cotton (), first recorded in ancient India, is a soft, fluffy staple fiber that grows in a boll, or protective case, around the seeds of the cotton plants of the genus '' Gossypium'' in the mallow family Malvaceae. The fiber is almost pure ...

rapeseed oil Close-up of canola blooms Canola flower Rapeseed oil is one of the oldest known vegetable oils. There are both edible and industrial forms produced from rapeseed, the seed of several cultivars of the plant family Brassicaceae. Historica ...

and PTA, a petroleum-based chemical product.

History

Zhengzhou Commodity Exchange was the first experimental

futures market A futures exchange or futures market is a central financial exchange where people can trade standardized futures contracts defined by the exchange. Futures contracts are derivatives contracts to buy or sell specific quantities of a commodity or f ...

approved by the State Council, established on October 12, 1990. The ZCE, which started with forward contract trading, launched its first futures contracts on five agricultural products -

wheat Wheat is a group of wild and crop domestication, domesticated Poaceae, grasses of the genus ''Triticum'' (). They are Agriculture, cultivated for their cereal grains, which are staple foods around the world. Well-known Taxonomy of wheat, whe ...

maize Maize (; ''Zea mays''), also known as corn in North American English, is a tall stout grass that produces cereal grain. It was domesticated by indigenous peoples in southern Mexico about 9,000 years ago from wild teosinte. Native American ...

soybean The soybean, soy bean, or soya bean (''Glycine max'') is a species of legume native to East Asia, widely grown for its edible bean. Soy is a staple crop, the world's most grown legume, and an important animal feed. Soy is a key source o ...

green bean Green beans are young, unripe fruits of various cultivars of the common bean ('' Phaseolus vulgaris''), although immature or young pods of the runner bean ('' Phaseolus coccineus''), yardlong bean ( ''Vigna unguiculata'' subsp. ''sesquipedali ...

and

sesame Sesame (; ''Sesamum indicum'') is a plant in the genus '' Sesamum'', also called benne. Numerous wild relatives occur in Africa and a smaller number in India. It is widely naturalized in tropical regions around the world and is cultivated for ...

on May 28, 1993. In 1988, the Research Group of the Zhengzhou Grain and Oil Futures Market in China was established. In 1990, the State Council permitted the China Zhengzhou Grain Wholesale Market (CZGWM) to operate on an experimental basis. In March 1991, China's inaugural advance contract was executed under the organization and supervision of CZGWM. In 1992, Vice Premier

Zhu Rongji Zhu Rongji ( zh, s=朱镕基; IPA: ; born 23 October 1928) is a retired Chinese politician who served as the 5th premier of China from 1998 to 2003. He also served as member of the Politburo Standing Committee of the Chinese Communist Party (CCP ...

conducted an inspection at CZGWM. In 1993, the CZCE introduced futures contracts for wheat, corn, soybean, mung bean, and sesame. In 1994, contracts for peanut kernels, soybean powder, and red beans were introduced, and an afternoon session commenced. In 1996,

Jiang Zemin Jiang Zemin (17 August 1926 – 30 November 2022) was a Chinese politician who served as General Secretary of the Chinese Communist Party, general secretary of the Chinese Communist Party (CCP) from 1989 to 2002, as Chairman of the Central Mil ...

General Secretary of the Chinese Communist Party The general secretary of the Central Committee of the Chinese Communist Party ( zh, s=中国共产党中央委员会总书记, p=Zhōngguó Gòngchǎndǎng Zhōngyāng Wěiyuánhuì Zǒngshūjì) is the leader of the Chinese Communist Part ...

President of the People's Republic of China The president of China, officially the president of the People's Republic of China, is the List of state representatives of the People's Republic of China, state representative of the China, People's Republic of China. On its own, it is a Fig ...

(PRC), and Chairman of the Central Military Commission, conducted an inspection of the CZCE. In 2001, ZCE and ZCGWM were bifurcated into two autonomous entities. In 2003, the trading volume reached 49.82 million contracts, reflecting a 17.3 percent increase from the prior year. In 2006, white sugar futures contracts were introduced at the ZCE, which also sponsored the inaugural China (Shenzhen) Sugar Industry Peak Forum. In 2009, the ZCE conducted the opening-bell ceremony for early indica rice futures. On December 1, 2020, Zhengshang received approval from the

Monetary Authority of Singapore The Monetary Authority of Singapore or (MAS), is the central bank and financial regulatory authority of Singapore. It administers the various statutes pertaining to money, banking, insurance, securities and the financial sector in general, as ...

as a recognized market operator in Singapore.

References

External links

* {{World Federation of Exchanges Zhengzhou Financial services companies established in 1990 Commodity exchanges in China 1990 in Zhengzhou

Products

History

See also

References

External links