Beijing, September 29 (BNA) – China Securities Regulatory Commission (CSRC), the country’s top securities regulator, announced that it has endorsed the Dalian Commodity Exchange (DCE) to carry out egg futures trading.
The (CSRC) said that the futures trading will help stabilize egg prices by increasing liquidity in the market, and could act as an efficient commodity hedge in the long run to promote stable development of the egg industry, according to China’s (Xinhua) News Agency. China’s annual production of eggs totaled 24.3 million tons in 2012 with an average market value reaching 185.6 billion yuan about (30 billion US dollars) over the last five years, putting it in the top position worldwide for the past 28 years, according to official statistics. Located in Dalian, a port city in northeast China’s Liaoning Province, the DCE is one of four futures exchanges in China. It trades a wide range of futures, including contracts for corn, soybeans and coke.
BNA 0752 GMT 2013/09/29