Study On The Futures And Options Market Of Agricultural Products In China

As an important financial trading tool,options in terms of promoting the development of futures market and real economy has performed a more and more important function.In the international options market,the volume of business options presented is getting bigger and bigger,the growth rate has risen steadily,the transaction varieties get increasingly rich day by day,participation of developing countries in options trading gets more and more.China's agricultural product futures market started late,with only more than decades of development.Although the development is relatively fast,compared with developed countries,there is still a large gap.First,it affects the agricultural producers'working enthusiasm and completion,meanwhile it reduces the stability of market supply and demand and price changes of agricultural products,it also reduces the working efficiency of the agricultural product futures market.We still have little voice in commodity pricing relatively,even though China has been the world's top agricultural and industrial product consumer market.Reform has become the focus of the current agricultural subsidy policy.Therefore,in order to strengthen the study of new effective subsidy measures,China's grain policy needs to trade space with time.Now,assisted by futures and options,premium subsidy as the price subsidy is a feasible way.International experience also shows that the development of options products in the subsidies for agricultural products is particularly important.As a basic tool for risk management in international derivatives market,the emergence of options has enriched the investment measures greatly.In current China,agricultural income is relatively low while the risks they face are quite large,so in our country it is necessary to carry out options trading in agricultural products,to provide the government's grain reform with more market-oriented means,also to provide the agricultural enterprises,farmer cooperative organizations and farmers with simple,less risk hedging tools,to generate the farmers'income and promote the modernization of Chinese agriculture.Agricultural futures trading and agricultural options trading,to some extent,can help the investors make benefits,let futures market give full play to its function.Agricultural futures and options can make the demand of the international futures market and improve international competitiveness.To develop options trading can be helpful for the government.It gives part of its function in maintaining market stability to the market,explores the risks of managing futures market through market forces,it also conforms to programmatic spirit of the Third Plenary Session of the 18^th CPC Central Committee that regarding the market as the decisive factor in the allocation of resources.This article aims at the establishment and development of options products in China,from five aspects,the policy background,the revelation of foreign advanced agricultural product futures and options market to China's market development,the necessity of the development of Chinese agricultural product futures and options market,basic conditions and restrictive factors and countermeasures,gives a deeper,more systematic and meticulous research on the feasibility of China's carrying out of options.This paper analyses American agricultural product options market's development,operation,function,and its successful experience for reference,on the basis of the government,from the angles of the government,futures market operation and market participants discusses the necessity of setting up China's agricultural product futures and options market,together with the research of the present situation of China's agricultural product futures market,it analyses the basic of the development of Chinese agricultural product futures and options market and the listing conditions of agricultural product futures and options,also the restriction factors of the development of Chinese agricultural product futures and options market,finally puts forward some countermeasures to the development of China's agricultural product futures and options market.