RETROSPECT OF SHANGHAI FUTURES EXCHANGE IN 2001 AND PROSPECT FOR 2002

In 2001, the annual dealing volume in Shanghai Futures Exchange added up to 854.43 billion yuan, rising 28.23% compared with the same period of last year.

The achievements are manifested in four aspects: The improvement of market regulation;The development of the futures of early Chan paddy, stock index, and petroleum, all of which were applied for issuing in the market to the China Securities Regulatory Commission. The communication network among three exchanges has been completed. The reform of management system. Departments' adjustment and the contest for senior manager positions have been accomplished. Moral and political education and business training have been reinforced.

Seven primary tasks in 2002 are defined: 1. Broaden the market and boost the development of the existing futures varieties; 2. Make special efforts to make the three varieties - petroleum, stock index, and early Chan paddy be listed as soon as possible; 3. Invest more in developing the series of petroleum, stock index, and early Chan paddy; 4. Accelerate the design and construction of new trading system with advanced technology, high degree of information, stable performance, strong compatibility, and great loading capacity. 5. Explore the personnel system of fair competition, selecting the most appropriate candidate for the position, and rational liquidity, as well as the competitive remuneration system according to the features of the trade. 6. Carry out the principles of "open, equitable, fair", "to solve the market issues through market" and "to show consideration for the overall situation and obey the general market benefits". 7. Strengthen basic works and increase management efficiency.