Li Zhongxin knows futures more than most Chinese people in this era because he is the best in futures trading in the international market, but! What about futures trading in the national futures market! Li Zhongxin really never thought about it.

Because Li Zhongxin felt that if he got involved, there would be nothing else to do.

Li Zhongxin remembers that the futures market first sprouted in Europe. As early as the ancient Greece and Rome, central trading venues, barter trading, and trading activities with the nature of futures trading appeared.

The initial futures trading developed from spot forward trading. The first futures exchange with a modern significance was established in Chicago, USA in 1848. The institute established the standard contract model in 1865.

The original spot forward transaction was a verbal commitment between the two parties to submit a certain amount of goods at a certain time. Later, as the scope of the transaction expanded, the verbal commitment was gradually replaced by a contract of buying and selling.

This contractual behavior is becoming increasingly complex and requires an intermediary to guarantee it to supervise the delivery and payment of both buyers and sellers on time. Therefore, the world's first commodity forward contract exchange opened in London in 1571 - Royal Exchange.

In order to adapt to the continuous development of the commodity economy, improve transportation and storage conditions, and provide information for members, in 1848, 82 merchants initiated the organization of the Chicago Futures Exchange.

In 1851, the Chicago Futures Exchange introduced forward contracts, and in 1865, the Chicago Cereal Exchange launched a standardized agreement called futures contracts, replacing the original forward contracts.

This standardized contract allows contracts to be re-traded and gradually improved the margin system. As a result, a futures market specializing in buying and selling standardized contracts was formed, and futures became an investment and financial tool for investors. In 1882, the exchange allowed it to be exempted by hedging.

The performance responsibility increases the liquidity of futures trading, which is a process of the emergence of world futures trading.

The background of the emergence of China's futures market is the reform of the grain circulation system, which is the so-called opening of China's grain and oil market.

As the country abolishes the unified purchase and sale of agricultural products and relaxes the prices of most agricultural products, the market has an increasingly important role in regulating agricultural product production, circulation and consumption, the ups and downs of agricultural product prices, the undisclosure of spot prices and the distortion of agricultural production, and the agricultural production.

Problems such as rising and falling and lacking value preservation mechanisms for grain enterprises have attracted the attention of leaders and scholars.

Senior leaders asked questions and asked the following people whether our country could establish a mechanism that could not only provide price signals to guide future production and operation activities, but also prevent price fluctuations from causing market risks. This is the focus of everyone's attention.

, a knowledgeable person proposed to follow the example of foreign countries to establish a futures trading center.

Actually! Referring to China's history, there was a commodity credit and forward contract system composed of grain stacks and grain markets in ancient China. In the Republic of China, there were many futures exchanges in the Shanghai Stock Exchange in China, and the market was once crazy speculation

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The puppet Manchukuo also set up futures exchanges in 15 cities including Dalian, Yingkou, Fengtian, etc., mainly engaged in soybean, bean cake, and soybean oil futures trade.

However, those exchanges are not standardized, and once they appear, they cause crazy hype, making this transaction a joke that can fool people. Countless grain merchants have become victims in the transaction.

After the founding of the People's Republic of China in 1949, the futures exchanges were extinct in mainland China for decades. At that time, the country did not allow such a capitalist thing to grow wildly on this land of China.

After the reform and opening up, China gradually had enough food to eat, and it was also possible to import some food from abroad through futures and other transactions. Gradually, people found that this trading method was simple and fast, and it was very suitable for operating such things.

.

Therefore, on October 12, 1990, Zhengzhou Grain Wholesale Market was approved by the State Council and introduced a futures trading mechanism based on spot trading, taking the first step in the development of China's futures market.

After that, China's futures market began to develop continuously. The Shanghai Metal Commodity Exchange opened on May 28, 1991, the Shenzhen Nonferrous Metals Exchange was established on June 10, 1991, and the first futures brokerage company in September 1992-Guangdong

Wantong Futures Brokerage Company was established, and Dalian Commodity Exchange was established on February 28, 1993...

But! Li Zhongxin did not pay too much attention to these actions of the country. He did not want to cause storms in the Chinese futures market and stock market. Naturally, he would not pay attention to these things. He could care about the operations of large foreign funds.

It's already a good thing to come here.

This time, the country proposed that we should first concentrate our efforts on running one or two exchanges, and at the same time, we should strengthen unified guidance and supervision and management of the pilot work of the futures market, and speed up the formulation of relevant supporting regulations.

Among the supporting laws and regulations, one point out that modern circulation methods such as material distribution should be actively promoted, pilot projects of establishing large-scale material distribution centers, and provide certain policy support.

What about Li Zhongxin! What I care about is this information. Zhongxin Company has launched a logistics company model in Northeast China and Guangzhou, Hainan, China. It can be said that Zhongxin Logistics Company is the largest logistics company in China at this time.

Zhongxin Logistics Company has now formed a scale in China, and has strong connections with each other. It can transport goods from the north to the south, and can also load goods from the south to the south and return to the north.

By the same token, when transporting materials from the south to the north, goods can also be transported from the north to the south. In this way, there will be no such information asymmetry.

At this time, logistics or transportation companies did not have that kind of awareness. To give the simplest example, many transportation companies transported a batch of materials from Dalian to Guangzhou. After transporting them there, they passed through certain state-owned enterprises

With the partnership, some goods may be found to be transported northward.

Those who have the ability do not return empty cars. Many transportation companies that do not have the ability do return empty cars directly. Invisibly, the price of goods is magnified a lot.

Under normal circumstances, the cost of a round trip is 2,000 yuan. What about these! The owner of the goods pays for it. If it is used for logistics from Zhongxin Company, then it will only pay the individual charges, and the price is higher than that of a normal transportation company.

The money is lower because Zhongxin Company has cargo transportation back and forth, which is the benefits brought by the logistics system.
Chapter completed!