The Development Of China's Agricultural Futures Market Theory And Strategic Studies

Future market appears in the text book after the 1980' s . It is classical because the future market is based on balanced price theory .It is a new study, because only several summarized economic theories can' t auount for the rapid development of finance deprived tools, and can' t adapt to the need of rapid development of the subject , therefore new ideas are needed to be brought forth . It was the reflection of the objective demand that Nobel Prize in 1997. To adopt to the demand of development ,?the books about actual operations are innumerable . But the research on futures markets which is theoretical and stategical was little. The study is new in this field.Now , China is accelerating its structural reforms . The attempt at futures markets in China is an important part . 1 want to make a study of agricultural products futures markets in China theoretically and strategically . The article includes establishing national main property , accomplishing exonomy of scale , internationalizing economy , agriculture development straegy , etc ., which are relative to futures markets . According to those , the relationship between futures markets and the development of exonomy are discussed . In respect of the competition in finance , the author puts forward a "Three Competition" throry , which is competition in primary resources , the competition in produts markets , the competition in finance between nations and countries , with the process of industrilization. In next century, the competition in advanced finance ie. deprived tools will develop a new competitive field. Now, many opinions of the theory have already been proved by monetary crisis in Southeast Asia countries.Futures markets are called "the essence of free market economy by many scholars in western countries . It is the article that frist systemically discusses what role it will make in our market economy. The author believes that the centre of market economy is market oriented economy mechanism , the essence of whice is supply and demand principles I .e . supply and demand forms price , and price automatically adjusts supply and feedback spot price . Futures markets can form price and feedback spot price and future price information. Therefore, it is the core of our market economy structure. A true market economy can' t be established without a perfect future market.The relations between spot price and future price , forward price boost and inflation are theoretical and practical problems imperative to be answered . The author , combining practice with theory , draws a conclusion that future price and two sides of an integral market . The tow sides interact , which forms an integral market mechanism . The tow sides have the defect and complement in function , while the author first states their unity . Mean while the author makes a detailed study of the defect in the actual delivery, finds out . Why the complement of futures markets in function in china is notapparent . Standardization has not been realized in agricultural products futures markets . Moreover an integral market inclnding futures markets and spot markets has not been made up. The basic reason is that agricultural products futures markets have not made delivery free , exchanges still follow the methods within the planned economy to check the delivery position . According to that, the author believes that future price boots is only the reflection and the result of inflation; not the reason. Bedore futures markets appeared, price also increased and even increased heavily.It is still a topic which has not been touched to summarize the appearance and the laws of agricultural products futures markets in China . First , a positive analysis is made on economical and theoretical background , direct cause and the development , the author thinks that the appearance of agricultural products futures markets , except that has something in common with the Chicago board of trade , has its speciality and unique background determined by the speciality of itself , the speciality of reforms .