The Influencing Factors And Policy Suggestions Of The Internationalization Of Iron Ore Futures In China

Iron ore is the largest imported industrial raw material in China,and occupies animportant position in the national economy.But for a long time,iron ore market pricing power is in the hands of foreign mines and brokerage institutions,Chinese enterprises can only passively accept the price does not conform to the status of China's industry,facing greater operational risk.Recently,the us-led trade war against China has highlighted the importance of controlling world commodity prices.At the same time,as a very high degree of internationalization of varieties,iron ore market pricing mechanism has shown a clear trend of financialization,the use of financial derivatives to obtain pricing power is the future direction of industrial development.Therefore,the introduction of foreign traders in iron ore futures can enrich and improve the structure of domestic iron ore futures market participants,improve the international representation and credibility of iron ore futures prices,make it more objective and accurate reflect the changes in the relationship between supply and demand in the international iron ore market,provide a more fair,fair and transparent price benchmark for the participants in the global iron ore trade,and lay the foundation for domestic enterprises to avoid risks and obtain market pricing power in the future.Based on the data and research,this paper combs the basic situation of spot iron ore market in China,analyzes the factors affecting spot iron ore trade,and holds that the important position of spot iron ore market in China not only has the basis of financialization,but also must firmly grasp the market voice,in order to protect the development interests of industrial enterprises and maintain the national resource security.By studying the current situation of market construction since the listing of iron ore futures in China,this paper analyzes the favorable factors to promote the internationalization of iron ore futures,and holds that China's futures market has the conditions to realize the internationalization of iron ore futures,and is now a perfect strategic opportunity period and a bottleneck period for the development of the market to a higher level,which is in line with China's current important position in the world economy and the national strategy of " the belt and road initiative".at this time,promoting the internationalization of iron ore futures is of great practical significance and urgent.Promote the internationalization of iron ore futures,at the same time,China is in an important stage of economic and social transformation and public governance transformation,iron ore internationalization work is not limited to the commercial field,but need the government to coordinate all kinds of resources,co-ordinate to promote.Therefore,this paperanalyzes the factors restricting the implementation of iron ore futures internationalization policy,analyzes the links that have not been broken through,explains the crux of the problem,analyzes the existing market,technology and other difficulties,and puts forward feasible suggestions and suggestions from the finance,taxation,currency and other aspects by using the theory of public management.