Recently, the CSRC approved of the listing of 5-year China treasury note futures contract at China Financial Futures Exchange (hereinafter referred to as the CFFEX). The futures contract is planned to be listed for trading on September 6, 2013.

Since July 4, 2013 when the CSRC approved of the listing of treasury bond futures at the CFFEX, the Commission has released the Provision on Financial Futures Investor Eligibility and the Guideline for Securities Companies Participating in the Trading of Stock Index Futures and Treasury Bond Futures. As for the Guideline for the Publicly Offered Securities Investment Funds Participating in Treasury Bond Futures Trading, we have already solicited public opinions and will release the document shortly. Meanwhile, headed by the Department of Futures Supervision of the CSRC and the Treasury Department of the Ministry of Finance, the People’s Bank, CBRC and CIRC have joined forces in establishing cross-ministerial coordination mechanism for treasury bond futures. In addition, the CFFEX has organized a number of market-wide trading trial and carried out multi-tiered and well-rounded investor education and will release rules for 5-year treasury futures contract and relevant business.

The listing of treasury bond futures is among the major tasks in deepening economic reform in 2013 and is of great significance. The CSRC will guide the CFFEX in ensuring “high standard and steady launch” and completing necessary preparations, in order to strengthen information sharing and supervisory coordination in the futures and spot markets of treasury bonds. Furthermore, we will perform due duties in the supervision and service of major procedures including trading, clearing, delivery and inspection, effectively preventing market risks and ensuring the steady launch and sound operation of treasury bond futures.