【英语中国】LME拟在香港推出大宗商品合约 LME set to launch Hong Kong-based contracts

  • A+
所属分类:双语中国

2014-10-21 06:39

小艾摘要: The London Metal Exchange plans to launch Hong Kong-based commodities contracts as it seeks to attract direct investment from mainland China, the world’s largest metals consumer.The 137-year-old exch ...
LME set to launch Hong Kong-based contracts
The London Metal Exchange plans to launch Hong Kong-based commodities contracts as it seeks to attract direct investment from mainland China, the world’s largest metals consumer.

The 137-year-old exchange, which was bought by Hong Kong Exchanges & Clearing in 2012, wants to extend a pilot programme starting this month linking the Hong Kong and Shanghai stock markets to commodities, Charles Li, HKEx chief executive, said.

“If that works?.?.?.?Then there’s no reason not to believe in the commodities space you are able to replicate that model,” Mr Li said at the start of LME Week, the biggest annual gathering of the metals industry.

China consumes most of the world’s metals, yet capital controls mean companies have limited access to trading on the LME, where 80 per cent of global industrial metals business takes place. Greater participation from mainland Chinese brokerages, producers and traders could better reflect global demand and allow Chinese purchasers and producers to hedge against price moves.

Volumes on domestic Chinese derivative exchanges are the world’s largest, according to Rebecca Brosnan, head of Asia commodities at HKEx. Although the number of private Chinese investors on the LME has grown, they need to make sure they have enough capital offshore in Hong Kong and Singapore to engage in hedging contracts, she said.

In a sign of gradual liberalisation, the Chinese government this year allowed companies registered in the newly opened Shanghai free-trade zone to move pooled amounts of Chinese currency in and out of the country freely.

Yet commodities contracts in Hong Kong would allow mainland investors to bypass the Shanghai zone, Mr Li said. Products could be settled and cleared in Hong Kong or mainland contracts could be listed in the city, Mr Li said.

In an initial step, the LME plans to allow the use of the renminbi as collateral by the end of this year, its chief executive Garry Jones said. It is working with the UK Treasury to increase the London-based renminbi market to allow for holdings of bonds as collateral rather than just cash, he said.

The LME wants Hong Kong to be a commodities hub while retaining London’s key role in the metals markets.

The LME also plans to push into other metals and has put in a bid to run and fix the price of gold.

伦敦金属交易所(London Metal Exchange)计划推出香港大宗商品合约,该交易所希望吸引来自全球最大金属消费国——中国内地的直接投资。

港交所(HKEx)首席执行官李小加(Charles Li)表示,拥有137年历史的伦敦金属交易所希望本月启动的“沪港通”试点计划扩大覆盖面,纳入大宗商品。伦敦金属交易所于2012年被港交所收购。

李小加在金属行业规模最大的年度会议LME Week开幕时表示:“如果计划成功……那么我们没有理由不相信我们可以在大宗商品领域复制这一模式。”

中国是全球最大金属消费国,但资本管制意味着企业参与伦敦金属交易所交易的途径受限,而全球80%的工业金属交易是在该交易所进行的。中国内地经纪商、生产商以及交易商的更大规模参与,可能会更好地反映全球需求,并让中国买家和生产商得以对冲价格波动。

港交所亚洲大宗商品业务主管白碧梅(Rebecca Brosnan)表示,中国国内衍生品交易所的成交量为全球最高。她表示,尽管伦敦金属交易所的中国私人投资者数量增多,但他们需要确保他们在香港和新加坡拥有足够多的离岸资金来签订对冲合约。

今年,中国政府批准在新设立的上海自贸区注册的公司自由开展跨境双向人民币资金池业务,这是一个逐步放开的迹象。

不过,李小加表示,香港大宗商品合约将允许内地投资者绕过上海自贸区。他表示,产品可在香港结算和清算,或者让内地合约在香港挂牌。

伦敦金属交易所首席执行官加里?琼斯(Garry Jones)表示,在起步阶段,该交易所计划在年底前允许使用人民币作为抵押。他表示,目前伦敦金属交易所正与英国财政部(UK Treasury)合作,改革伦敦的人民币市场,使持有的债券(而非只有现金)可被用作抵押。

伦敦金属交易所希望香港成为大宗商品交易枢纽,同时保住伦敦在金属市场上的关键地位。

伦敦金属交易所还计划进军其他金属业务,并已投标角逐黄金定价权。

译者/何黎

本文关键字:双语阅读,小艾英语,双语网站,双语中国,实时资讯,互联网新闻,ERWAS,行业解析,创业指导,营销策略,英语学习,可以双语阅读的网站!
  • 我的微信
  • 扫一扫加关注
  • weinxin
  • 微信公众号
  • 扫一扫加关注
  • weinxin

发表评论

:?: :razz: :sad: :evil: :!: :smile: :oops: :grin: :eek: :shock: :???: :cool: :lol: :mad: :twisted: :roll: :wink: :idea: :arrow: :neutral: :cry: :mrgreen: