Date：July 4, 2014
Source: China Economic Times

　　In terms of trading volume, the Shanghai silver futures now ranks the world’s first while the Shanghai gold futures ranks a steady second in the world and first in the Asia Pacific region. The trading hours, risk control system and price formation mechanism of China’s futures market are more in line with the international norms with pricing power for products being enhanced, thus laying a solid foundation for the 24/7 trading and futures market internationalization.
　　The launch of continuous trading by the Shanghai Futures Exchange (SHFE) means that China’s day trading and night trading have basically covered all main trading hours in the international market. In terms of price formation mechanism, gold, silver and other precious metals contracts have witnessed brisk sentiment in recent months, and are more related to the nearby month contracts of corresponding products of New York Mercantile Exchange (NYMEX). Besides, the interaction between futures market and spots market are strengthening. SHFE’s non-ferrous metal products have moved more closely with the international market, and some important exchanges such as the London Metal Exchange (LME) are referring to SHFE’s prices in their pricing, resulting in the "Chinese Prices" during these years. With its continuous trading expanded to non-ferrous metals, the price formation mechanism will be further strengthened.