| The author analyzed how the liquidity to impact the development of China's gold futures market, based on the definition of liquidity of gold futures market in China. On this basis, the author selected the trading data of gold futures transactions contract and other associated data with market since January 9 2008 to April, and demonstrated the reality that there was lack of liquidity at particular period in China's gold Futures market. The author also pointed out the gap of Futures market between China and developed country, through using Factor Analysis Methods and Comparative Analysis Methods etc. At the same time, the author analyzed the causes of the lack of liquidity in China's gold futures market from the degree of micro-level, by using some special methods and the knowledge of finances. The author demonstrated the study conclusion: The main factors that effected the lack of liquidity in China's gold futures market included the relationship between China's gold spot market and futures market, the structure of investors in the market, the gold futures trading system and the service level of futures companies. Finally, the author gave some advices to improve the liquidity of China's gold futures market and promote China's gold futures market Steady development according to the conclusion, such as opening more futures channels to investors, developing institutional investors, adjusting gold futures trading system flexibly and improving the service levels of futures companies, etc. |
PDF Full Text Request