Zhengzhou commodity exchange
Encyclopedia
Zhengzhou Commodity Exchange (ZCE; ), established in 1990, is a futures exchange
in Zhengzhou
, one of the three futures exchanges in China
. The ZCE is under the vertical management of China Securities Regulatory Commission
(CSRC).
, cotton
, rapeseed oil and PTA
, a petroleum-based chemical product.
1988 - Research Group of China Zhengzhou Grain and Oil Futures Market was set up.
1990 - China Zhengzhou Grain Wholesale Market (CZGWM) was approved to run on an experimental basis by the State Council.
1991 - In March 1991, China 's first forward contract was signed under the organization and supervision of CZGWM.
1992 - Vice Premier Zhu Rongji
inspected CZGWM.
1993 - CZCE launched futures contracts including wheat, corn, soybean, green bean (mung bean) and sesame.
1994 - The contracts of peanut kernel, soybean meal, red bean were introduced, and afternoon session was opened.
1996 - Jiang Zemin
, General Secretary of the Central Committee of the Communist Party of China (CPC), President of the People's Republic of China
(PRC) and Chairman of the Central Military Commission, inspected CZCE.
2001 - ZCE and ZCGWM were separated into two independent organizations.
2003 - The trading volume of 2003 was 49.82 million contracts, up 17.3 percent from the previous year.
2006 - White sugar futures contracts were launched at ZCE, and ZCE sponsored the 1st China (Shenzhen) Sugar Industry Peak Forum.
2009 - ZCE held opening-bell ceremony of early indica rice futures.
Futures exchange
A futures exchange or futures market is a central financial exchange where people can trade standardized futures contracts; that is, a contract to buy specific quantities of a commodity or financial instrument at a specified price with delivery set at a specified time in the future. These types of...
in Zhengzhou
Zhengzhou
Zhengzhou , is the capital and largest city of Henan province in north-central China. A prefecture-level city, it also serves as the political, economic, technological, and educational centre of the province, as well as a major transportation hub for Central China...
, one of the three futures exchanges in China
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
. The ZCE is under the vertical management of China Securities Regulatory Commission
China Securities Regulatory Commission
The China Securities Regulatory Commission is an institution of the State Council of the People's Republic of China , with ministry-level rank...
(CSRC).
Products
ZCE specializes in agricultural and chemical product futures, including hard white wheat, strong gluten wheat, sugarSugar
Sugar is a class of edible crystalline carbohydrates, mainly sucrose, lactose, and fructose, characterized by a sweet flavor.Sucrose in its refined form primarily comes from sugar cane and sugar beet...
, cotton
Cotton
Cotton is a soft, fluffy staple fiber that grows in a boll, or protective capsule, around the seeds of cotton plants of the genus Gossypium. The fiber is almost pure cellulose. The botanical purpose of cotton fiber is to aid in seed dispersal....
, rapeseed oil and PTA
PTA
-Organizations:* Andalusia Technology Park , a science park in Málaga, Spain* Parent-Teacher Association* Pakistan Telecommunication Authority* Passenger transport authority, a United Kingdom local government authority...
, a petroleum-based chemical product.
History
Zhengzhou Commodity Exchange was the first experimental futures market 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, corn, soybean, green bean and sesame on May 28, 1993.1988 - Research Group of China Zhengzhou Grain and Oil Futures Market was set up.
1990 - China Zhengzhou Grain Wholesale Market (CZGWM) was approved to run on an experimental basis by the State Council.
1991 - In March 1991, China 's first forward contract was signed under the organization and supervision of CZGWM.
1992 - Vice Premier Zhu Rongji
Zhu Rongji
Zhū Róngjī is a prominent Chinese politician who served as the Mayor and Party chief in Shanghai between 1987 and 1991, before serving as Vice-Premier and then the fifth Premier of the People's Republic of China from March 1998 to March 2003.A tough administrator, his time in office saw the...
inspected CZGWM.
1993 - CZCE launched futures contracts including wheat, corn, soybean, green bean (mung bean) and sesame.
1994 - The contracts of peanut kernel, soybean meal, red bean were introduced, and afternoon session was opened.
1996 - Jiang Zemin
Jiang Zemin
Jiang Zemin is a former Chinese politician, who served as General Secretary of the Communist Party of China from 1989 to 2002, as President of the People's Republic of China from 1993 to 2003, and as Chairman of the Central Military Commission from 1989 to 2005...
, General Secretary of the Central Committee of the Communist Party of China (CPC), President of the People's Republic of China
(PRC) and Chairman of the Central Military Commission, inspected CZCE.
2001 - ZCE and ZCGWM were separated into two independent organizations.
2003 - The trading volume of 2003 was 49.82 million contracts, up 17.3 percent from the previous year.
2006 - White sugar futures contracts were launched at ZCE, and ZCE sponsored the 1st China (Shenzhen) Sugar Industry Peak Forum.
2009 - ZCE held opening-bell ceremony of early indica rice futures.
See also
- List of futures exchanges
- List of stock exchanges
- List of stock market indices
- Hong Kong Exchanges and ClearingHong Kong Exchanges and ClearingHong Kong Exchanges and Clearing Limited , also 香港交易所 or 港交所; abbreviated as HKEx; ) is the holding company for The Stock Exchange of Hong Kong Limited , Hong Kong Futures Exchange Limited and Hong Kong Securities Clearing Company Limited...