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Index futures get nod from State Council

By Zuo Likun (chinadaily.com.cn)
Updated: 2010-01-08 19:10
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Chinese stock index futures have been approved, in principle, by the State Council, the regulator China Securities Regulatory Commission (CSRC) said Friday, Chinanews.com.cn reported.

It would take CSRC about three months to introduce the futures to the market, according to the report.

Stock index futures are agreements to buy or sell an index at a preset value on an agreed date. The new instrument would allow Chinese investors to profit from declines in share prices and hedge risks for the first time. It will also help curb volatility in a market that slumped nearly 65 percent in 2008 and rebounded over 80 percent last year.
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