SOURCE / ECONOMY
Carbon trading key to 2060 neutrality target By Global Times Published: Jan 26, 2021 06:08 PM
View of piles of coal on a quay in Rizhao, East China s Shandong Province Photo: cnsphoto
China s securities regulator approved the establishment of the Guangzhou Futures Exchange in South China s Guangdong Province on Friday, making it the fifth futures exchange center in China, raising speculation on whether carbon emission allowance futures will become the first trading class to feature on the index.
Apart from the Guangzhou Exchange, China also has the Shanghai Futures Exchange, Zhengzhou Commodity Exchange, Dalian Commodity Exchange and China Financial Futures Exchange.
Approved by the State Council, the China Securities Regulatory Commission (CSRC) officially approved the establishment of the Guangzhou Futures Exchange, which will play a critical role in improving the capital market system, Gao Li, spokesperson for the CSRC, said on Friday.
By Addison Gong
25 Jan 2021
In this round-up, Beijing plans to increase oversight of debt management and corporate governance at Chinese lenders, Hong Kong is ready to include Star-listed A-shares into the Stock Connect, and the securities regulator gives the nod to set up a new futures exchange in Guangzhou.
Chinese banks recorded a foreign exchange settlement surplus of $158.7bn in 2020, shows data from the State Administration of Foreign Exchange (Safe). The amount was Rmb1.078tr in renminbi terms.
The total assets of the Chinese banking industry grew 10.1% year-on-year in 2020 to reach Rmb319.7tr, with a 10.2% rise in total debt to Rmb293.1tr, data from the China Banking and Insurance Regulatory Commission (CBIRC) showed.
China’s securities regulator approved the establishment of the Guangzhou Futures Exchange in South China’s Guangdong Province on Friday, making it the fifth futures exchange center in China.
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