Could 2008 finally be the year that China fulfils its potential? Hugo Cox investigates
been a great deal of anticipation concerning the introduction
of equity index futures in, but as yet nothing has
Fulin, chairman of China's securities regulator, referred in
December to the need for a safe introduction of the
contracts. This concern for safety appears to have delayed a
launch date deep into 2008. The disastrous experience of the
bond index futures crash in 1995, a highly speculative
retail-dominated commodities market, and fears concerning the
destabilising effect of providing a route to shorting an
apparently overheated cash equity market are all taking their
toll. While there is massive demand from foreign investors for
access to both the proposed financial futures the involvement
of foreign brokers on both fronts has been limited by a lack of
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