Announcement on the Participation in Sovereign Bond Futures Trading on the China Financial Futures Exchange by Commercial Banks and Insurance Institutions
关于商业银行、保险机构参与中国金融期货交易所国债期货交易的公告
Banks and insurance companies are allowed to engage in sovereign bond futures trading
(Issued by the China Securities Regulatory Commission, the Ministry of Finance, the People's Bank of China and the China Banking and Insurance Regulatory Commission on February 14, 2020.)
(中国证监会、财政部、中国人民银行及中国银保监会于二零二零年二月十四日发布。)
CSRC Announcement [2020] No.12
中国证监会公告〔2020〕12号
With a view to further improving the structure of market entities and following the approval of the State Council, we hereby announce matters relating to the participation in the trading of sovereign bond futures on the China Financial Futures Exchange by commercial banks and insurance institutions as follows:
为进一步完善市场主体结构，经国务院同意，现就商业银行、保险机构参与中国金融期货交易所国债期货交易有关事项公告如下：
1 . Qualified commercial banks may participate in sovereign bond futures trading on the China Financial Futures Exchange on a trial basis for risk management purposes.
一、符合条件的商业银行可以风险管理为目的，试点参与中国金融期货交易所国债期货交易。
2 . Insurance institutions with investment management capabilities may participate in sovereign bond futures trading on the China Financial Futures Exchange for risk management purposes.
二、具备投资管理能力的保险机构可以风险管理为目的，参与中国金融期货交易所国债期货交易。
3 . A commercial bank or insurance institution shall compliantly participate in sovereign bond futures trading in accordance with the law provided that risks are controllable and business is sustainable.
三、商业银行、保险机构应在依法合规、风险可控、商业可持续的前提下，参与国债期货交易。
4 . A commercial bank or insurance institution that participates in sovereign bond futures trading shall establish sound and comprehensive risk management and internal control systems and a business processing system, have a professional management team and compliant business operational procedures, and guard against and control trading risks.
四、参与国债期货交易的商业银行、保险机构，应建立完善的全面风险管理和内部控制制度及业务处理系统，具备专业的管理团队和规范的业务操作流程，防范和控制交易风险。
5 . The China Securities Regulatory Commission, Ministry of Finance, People's Bank of China and China Banking and Insurance Regulatory Commission shall leverage the functions of the cross ministerial level authority coordinating mechanism, strengthen regulatory cooperation and information sharing, push forward the participation of commercial banks and insurance institutions in sovereign bond futures trading on a batch by batch basis and promote the healthy development of the sovereign bond futures market.
五、中国证券监督管理委员会、财政部、中国人民银行、中国银行保险监督管理委员会发挥跨部委协调机制作用，加强监管合作和信息共享，分批推进商业银行和保险机构参与国债期货市场交易，促进国债期货市场健康发展。
6 . In the event of a discrepancy between this Announcement and relevant provisions on the participation in sovereign bond futures trading by commercial banks and insurance institutions previously issued by the China Securities Regulatory Commission, Ministry of Finance, People's Bank of China or China Banking and Insurance Regulatory Commission, this Announcement shall prevail.
clp reference: 3700/20.02.14 issued: 2020-02-14六、中国证券监督管理委员会、财政部、中国人民银行、中国银行保险监督管理委员会此前发布的关于商业银行和保险机构参与国债期货交易的相关规定如与本公告不符，以本公告为准。
This premium content is reserved for
China Law & Practice Subscribers.
A Premium Subscription Provides:
- A database of over 3,000 essential documents including key PRC legislation translated into English
- A choice of newsletters to alert you to changes affecting your business including sector specific updates
- Premium access to the mobile optimized site for timely analysis that guides you through China's ever-changing business environment
Already a subscriber? Log In Now