The Development Pattern Of China's Financial Derivative Market

China's economic and financial integration into the world has become part of the world , as China's capital market reforms deepen and accelerate the opening up of capital markets. Financial internationalization and liberalization of global financial assets face great risk. Interest rate volatility and exchange rate liberalization has been to a country's financial assets and foreign currency assets at risk, in order to avoid this risk, in order to obtain the proceeds of such risks, the economic development of all countries comply with the laws of internal demand, vigorously To develop their own financial derivative market. At present, not only in developed capitalist countries on the basis of the original market continue to improve financial derivatives markets , but emerging market economies has also used the advantage to the development of the financial derivatives markets. In this international environment, how China should develop its own financial derivative market is a far-reaching and significant issue.In the course of the development of financial derivatives markets, we see two different development models: a Britain and the United States is represented by the evolution of the model induced. Another is South Korea and Singapore as the representative of the Mandatory evolution model. China's financial derivatives markets due to the domestic economy, the traditional patterns and habits of financial constraints and other factors, growth is still not perfect, the financial system is relatively weak and has its own specificity, therefore, China's financial derivatives markets should give full play to China's Characteristics, choose a suitable model of development, including the development of China's financial derivatives markets and on the path to change two aspects of the system.Chinese characteristics of financial derivative market development model on the request must be in the economic system of socialism with Chinese characteristics under the guidance of the first to take a mandatory system changes mode, with the national conditions of China and the emerging markets of financial derivatives markets development experience and make full use of the advantage, building a unified sound laws and regulations, according to the law setting up monitoring systems and related personnel training, all transactions knowledge, the development of a reasonable basis for the correct path to take to. At the transaction-based trading, the choice of stock index futures or bond futures as a breakthrough point, the timely introduction of financial derivatives, the gradual and healthy development of financial derivatives markets. In the financial derivatives markets with Chinese characteristics in the development process and achieve a mandatory evolution models and induced the mixed pattern of evolution, the institutional framework established coordination system and establish a "development-oriented government" and promote China's market, and financial derivatives The market leap-style development.