China on steady path to open up derivatives markets internationally - FIA Asia
3rd December, 2025|Karry Lai
FIA president and chief executive Walt Lukken is bullish about China’s continued pathway to open its financial markets to foreign investors.
Speaking at the FIA Asia 2025 conference in Singapore on Wednesday, Walt Lukken, president and chief executive at FIA, emphasised China’s continued commitment to open up its derivatives markets.
Lukken has observed the openness that China has adopted, as evidenced in the country’s 15th five-year plan from 2021 to 2025 which emphasised the need to enlist international support to grow its derivatives markets. China Securities Regulatory Commission chair Wu Qing also made remarks in June to open up the Chinese financial market to more products.
“My interpretation is that China is looking at as many options as possible to open up its financial markets to foreign investors,” said Lukken.
Through the Qualified Foreign Investor scheme, China has been on a steady and consistent pace to reach 100 futures products in the near term. This year, Chinese exchanges have listed another 16 products to outside investors and has reached up to 91 products. Bond futures are also being planned to allow investors to hedge risk.
Looking at the commodities markets, which have been booming in China, the top 25 commodities in volume include 20 that are listed in China.
Lukken sees no change in direction from the Chinese government in opening up its financial markets and feels bullish about the direction. The FIA had a positive meeting recently with China’s vice premier He Lifeng, where both sides discussed tokenisation and the optimistic relationship China has with President Trump, he added.
Looking ahead, while regulations such as the Futures and Derivatives Law and close-out netting rules are in place in China, there is still cautiousness of legal certainty and what will be important is how laws are enforced at a time of crisis.
