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Conditions ripe for launching forex futures, official

2014-12-01 GMT+8:00

BEIJING, Dec. 1 (Xinhua) -- It's quite necessary for China to develop forex futures, and conditions for introducing the product are basically mature now, Li Yu, former vice president of China Foreign Exchange Trade System was quoted by Xinhua-run China Securities Journal as saying on Monday.

Introducing forex futures is conducive to promoting RMB internationalization and enhancing the competitiveness of China's economy, according to Li.

Li notes that the introduction of forex futures, such as EUR/USD futures, will not affect China's RMB exchange rate reform, and it will help guard against risks brought by RMB internationalization. (Edited by Hou Yujie,