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Annual Report 2010

In 2010, under the correct leadership of China Security Regulatory Commission (CSRC), Chinese futures market continued a positive trend of development. With further improvement in fundamental laws and regulations of the futures market, steadily expansion of market share, successful launch of the HS300 stock index futures as well as remarkable improvement in risk management capabilities, the function of futures market to serve national economic development has become more and more important, Chinese futures market has gained the foundation of more rapid development at a higher stage and better serving the national economic development.

During the past year, Zhengzhou Commodity Exchange (ZCE) has made positive progress in different aspects. It further enhanced work-discipline for front-line surveillance, reliably eliminated potential market risks, hence successfully kept the zero risk tolerance bottom line; It actively involved in innovation of market cultivation, deepened the functions of futures market and exerted its advantages in research, strengthened its ability to serve the real economy; It set up and improved work guideline for information technology system, emphasized on management of operations and maintenance, hence improved technical support standard; It intensified the efforts to build-up talented workforce, reinforced on internal management, and consolidated the foundation for further development.

2011 marks the start of the twelfth Five-Year Plan and it also represents that Chinese futures market is standing at a crucial turning point from quantitative expansion to qualitative improvement. In the coming year, ZCE shall follow the instructions made by the CCCPC on steady development of futures market, conduct arrangements made during the National Securities and Futures Surveillance Conference, follow the route of Scientific Development with the purpose of better serving the real economy, further revise and improve trading practices, make it easier for enterprises within industrial chains to enter into futures market; Focus more on summarizing the experiences of futures market serves Agriculture, Rural areas and Farmers Issues, improve its mechanism and pattern; Intensify front-line market surveillance, ensure the basic functions of futures market on price discovery and risk management are properly implemented. Improve the cultivation of existing commodities, promote R&D and listing of new commodities. Initiate the development of new trading system, prioritize the development of information technology system. Meanwhile, intensify efforts on market promotion and direct public opinions, improve the recognition of public on functions and roles of futures market, hence create a comfortable external environment for the development of the futures market, and work harder in the coming year, warmly welcome the 90th birthday of the Communist Party of China with a better result.