On September 10, offset printing paper futures and options, as well as fuel oil, petroleum asphalt, and pulp options were officially listed for trading on the Shanghai Futures Exchange (SHFE). Offset printing paper futures, along with fuel oil, petroleum asphalt, and pulp options, were listed at 9:00 a.m., while offset printing paper options were listed at 21:00 on the same day.
Starting from the same day, petroleum asphalt futures, as well as fuel oil, petroleum asphalt, and pulp options, were included in the trading scope for qualified foreign institutional investors (QFII).
Wang Ying, Deputy Director of the Futures Supervision Department of the China Securities Regulatory Commission (CSRC), read out the CSRC’s “Approval on the Registration of Offset Printing Paper Futures and Options on the Shanghai Futures Exchange” and the “Approval on the Registration of Fuel Oil, Petroleum Asphalt, and Pulp Options on the Shanghai Futures Exchange.
” Xu Xin, Deputy District Mayor of Pudong New Area in Shanghai; Xu Xiangnan, Deputy Secretary of the Party Committee of the China National Light Industry Council; Fu Xiangsheng, Vice President of the China Petroleum and Chemical Industry Federation; Zhao Wei, Chairman of the China Paper Association; Yan Su, General Manager of China Paper Investment Co., Ltd.; and Tian Xiangyang, Chairman of the SHFE, delivered speeches successively. Lu Dongsheng, General Manager of the SHFE, presided over the listing ceremony.
Xu Xiangnan stated that the paper industry is a vital foundational raw material sector and an important component of China’s light industry. In 2024, paper and paperboard production reached 136 million tons, maintaining China’s position as the world’s largest producer and consumer of paper for 16 consecutive years.
At this critical juncture of deepening high-quality development and advancing toward a strong paper industry, the listing of offset printing paper futures and options, as well as pulp options, is timely and significant:
First, it will provide essential financial tools for upstream and downstream enterprises in the cultural paper industry, enhancing the risk resilience of the industrial chain and laying the foundation for the prosperous development of cultural dissemination.
Second, through the guidance of market mechanisms, it will stimulate green transformation in enterprises and promote the sustainable development of the paper industry. Third, it will enhance the international competitiveness of China’s paper industry, help form a “China price,” and attract global participation.
Fu Xiangsheng stated that the Shanghai Futures Exchange has successively listed futures contracts for fuel oil, petroleum asphalt, and other commodities. These markets exhibit strong liquidity, excellent contract continuity, a mature investor structure, and tight futures-spot linkage.
During periods of sharp market price volatility, they have effectively assisted enterprises in fulfilling their risk management functions. The launch of offset printing paper futures and options, alongside options for fuel oil, petroleum asphalt, and pulp, represents another significant step by the SFE to enrich and refine the industry’s multi-tiered derivatives ecosystem.
This move addresses enterprises’ refined and diversified needs while further enhancing the functionality of the futures market. It marks the full entry into a new phase of coordinated development between futures and options, accelerating the SFE’s progress toward achieving comprehensive options coverage for its mature futures products.
This development fully aligns with market demands and industry expectations.