China's State Council announced on Friday in a document guidelines that would help boost oversight, minimize risks, and enhance "high-quality" growth in the futures market.
According to the document, China's Securities Regulatory Commission (CSRC) advised banks to "enhance credit management and stop firms from illegally using loans for commodity futures speculation." Beijing further plans to take serious action against those using "illegal and irregular" practices in the futures market.
The CSRC is also currently looking into potentially opening stock index futures, as well as government bond futures to foreign investors.
