From December 14th to 17th, 2023, the "2024 Great Changes, New Momentum China Steel Market Outlook and 'My Steel' Annual Meeting" was held in Shanghai.
At the meeting, Zhang Ming, deputy general manager of Shanghai ** Exchange, delivered a speech.
Zhang Ming, deputy general manager of Shanghai ** Exchange
Dear President He Wenbo, Chairman Zhu Junhong, leaders and guests:
Good morning!
It is my great pleasure to participate in the "2024 China Steel Market Outlook & My Steel Annual Meeting". On behalf of the Shanghai ** Stock Exchange, I would like to extend a warm welcome and heartfelt thanks to all the leaders and entrepreneurs who have cared for and supported the development of our institute for a long time
The iron and steel industry is an important cornerstone of national economic development and the mainstay of supporting the high-quality development of China's economy. As an important financial infrastructure of the country, the Exchange has always adhered to serving the real economy and the national strategy, resolutely safeguarding the national economic and financial security, and helping the majority of iron and steel enterprises to operate steadily. Since the beginning of this year, focusing on the needs and concerns of entity enterprises, the previous period has launched a series of targeted measures, forming a relatively complete industrial service system, in terms of product quality, we have accelerated the pace of variety innovation, listed 3 **1 option varieties, do fine and fine stock varieties, expand the delivery units of related varieties, optimize the delivery brand and factory layout, and continue to carry out innovative research on the first-class commercial warehouse system such as steel. In terms of operation quality and efficiency, we focused on promoting entity cost reduction and efficiency increase, and we reduced the margin ratio and price limit range of multiple varieties including rebar, wire rod, hot-rolled coil and stainless steel, and launched differentiated margins, with a margin discount of 1 percentage point for hedging transactionsWe have continuously optimized the transaction settlement mechanism, launched non-hedging to hedging business, increased daily call bidding, improved the disposal rules for treasury bonds and other valuable *** as margin defaults, and implemented the "two-day delivery" mechanism for 15 varietiesAt the same time, we continued to improve the market-making mechanism and optimize the assessment and incentive measures for market makers, which further consolidated the continuity of active contractsIn terms of market services, focusing on stabilizing the root of the market and helping the development of enterprises, we launched the brand of "Strong Source to Help Enterprises" in the last period, integrated various market incentive projects, continued to build the "Enterprise Deep Cultivation Plan", vigorously built the "Industry and Finance Service Base", created the "Member Peer" cooperation brand, and cooperated with the State-owned Assets Supervision and Administration Commission, industry associations, local securities regulatory bureaus, etc. to customize various training activities for industrial chain enterprises, provide a platform for exchange of futures and spots, build a bridge to communicate the upstream and downstream of the industry, and strengthen the entity and knowledge of related derivative instruments.
In November, when inspecting the Shanghai Stock Exchange, he fully affirmed the achievements of the Shanghai Exchange in enhancing its global resource allocation capabilities, serving the real economy and national strategies, and asked the Shanghai Exchange to accelerate the construction of a world-class exchange, so as to make greater contributions to exploring the first regulatory system and business model with Chinese characteristics and building an international financial center. In the face of a more complex and changeable macro environment in the future, the Shanghai Exchange will keep in mind the entrustment of the General Secretary, resolutely implement the spirit of the first financial work conference, make persistent efforts, take strengthening supervision, preventing risks and promoting development as the top priority of its work, and continue to improve its ability to serve the real economy and serve the construction of a financial power. The first is to comprehensively strengthen daily supervision. Deeply grasp the political nature and stability of financial work, fully implement the requirements of scientific and technological supervision and "see-through" supervision, strengthen the whole process and integrated supervision of transactions, strictly crack down on violations of laws and regulations, maintain the order of the "three publics" in the market, continue to purify the market ecology, and promote the better performance of the best functions. The second is to effectively prevent and resolve all kinds of risks. Conscientiously do a good job in stabilizing the market and stabilizing expectations, think about risk prevention and control work in the front, do it in detail, prevent risks from transmitting resonance across regions, markets and borders, keep the bottom line of no systemic risks, and maintain the steady operation of the market. The third is to steadily promote the development of the market. Focusing on the needs of the industry and the needs of enterprises, we will increase the intensity of variety and business innovation, continue to enrich and improve the variety system, optimize the system arrangements for trading, settlement and delivery, and improve the quality and efficiency of market operationWe will continue to carry out multi-level industrial training and promotion activities, continue to reduce the cost of enterprise participation in the market, enhance the participation of industrial customers, and promote the effective docking and smooth circulation of the futures and spot markets.
Ladies and gentlemen, after decades of rapid development, China's steel industry has entered a new stage of high-quality development. In the last period, we are willing to go hand in hand with you and make unremitting efforts for the high-quality development of China's iron and steel industry
Finally, I wish this meeting a complete successThank you!
Disclaimer: The above content is the guest's personal academic opinion, which has not been reviewed by the guest himself, and does not represent the views and positions of this website.