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New financial futures bourse set up

(Xinhua)
Updated: 2006-09-08 16:43

China Financial Futures Exchange, the country's fourth futures bourse focusing on financial derivatives trade, was inaugurated Friday in east China's metropolis Shanghai.

The exchange, with a registered capital of 500 million yuan (62.5 million U.S. dollars), is expected to start trade on mainland stock index futures, which are designed to enable domestic investors to hedge risks against market slumps.

The Shanghai and Shenzhen stock exchanges and China's three futures exchanges, based in Shanghai, Dalian and Zhengzhou, are the shareholders of the new exchange. Each of them holds a 20 percent stake.