Strategic significance

The launch of foreign exchange futures also has positive strategic significance, the first of which is to help resolve foreign exchange reserve risks. The huge scale of reserves, a single reserve structure and unreasonable capital investment have pushed the risks of China's foreign exchange reserves to the forefront. How to resolve the risks of foreign exchange reserves is urgent.

Secondly, foreign exchange futures accelerate the internationalization of the RMB. On the one hand, as RMB cross-border trade continues to grow and exchange rate risks continue to increase, the demand for foreign exchange futures continues to increase. The launch of foreign exchange futures will greatly expand the scale of RMB settlement and accelerate the process of internationalization. On the other hand, the smooth promotion of RMB capital account convertibility also requires enriching RMB exchange rate risk management tools and actively developing China's financial derivatives market.

Strategic significance

The launch of foreign exchange futures also has positive strategic significance, the first of which is to help resolve foreign exchange reserve risks. The huge scale of reserves, a single reserve structure and unreasonable capital investment (for details, please follow the WeChat public account "Global Foreign Exchange Voice") have pushed the risks of China's foreign exchange reserves to the forefront. How to resolve the risks of foreign exchange reserves is urgent. .

Secondly, foreign exchange futures accelerate the internationalization of the RMB. On the one hand, as RMB cross-border trade continues to grow and exchange rate risks continue to increase, the demand for foreign exchange futures continues to increase. The launch of foreign exchange futures will greatly expand the scale of RMB settlement and accelerate the process of internationalization. On the other hand, the smooth promotion of RMB capital account convertibility also requires enriching RMB exchange rate risk management tools and actively developing China's financial derivatives market.

Finally, foreign exchange futures can promote China’s economic strategic transformation. To realize the transformation from a major commodity exporting country to a major capital exporting country and to further expand the scale of foreign investment, China needs to establish a foreign exchange derivatives market system with foreign exchange futures as the core to resolve various risks in foreign investment. At the same time, it also needs to gradually promote the development of the RMB The process of free convertibility has allowed more companies and investors to boldly "go global", increase foreign investment, resolve overcapacity, and promote China's economic strategic transformation.