At 9:00 am on August 18, China's first shipping futures product - Container Shipping Index (European Line) futures was officially listed for trading at the Shanghai International Energy Exchange Center, a wholly-owned subsidiary of the Shanghai Futures Exchange.

　　On the first day, a total of five contracts were listed, namely EC2404, EC2406, EC2408, EC2410, and EC2412, with a listing benchmark price of 780 points.

　　On the day, the main contract EC2404 opened at 770 points and closed at 916.3 points. The product traded 369,000 lots (single-sided, the same below) throughout the day, with a transaction amount of 16.56 billion yuan and an open interest of 16,000 lots.

　　The industrial clients participating in the first batch of trading of the Container Shipping Index (European Line) futures include: Shanghai Global Express Logistics Co., Ltd., Shanghai New New International Logistics Co., Ltd., Ningbo Port Southeast Logistics Group Co., Ltd., a subsidiary of Shanshan Material Group Shanghai Shanshan Trading Co., Ltd., Zhejiang Sibang Industrial Co., Ltd., Mercuria Asia Resources Ltd., BOCI Global Commodities Ltd., and Jingtai Material Singapore Ltd., among others.

　　According to CCTV news reported early in the morning, the underlying index of the shipping index futures is the Shanghai Export Container Freight Index (European Line) compiled and released by the Shanghai Shipping Exchange, adopting a design scheme of "service-type index, international platform, RMB pricing, cash settlement." It is China's first service-type futures product and the first index-type, cash-settled futures product listed on a commodity futures exchange.

　　The report stated that the listing of shipping index futures provides freight pricing and risk management tools for shipping and foreign trade enterprises, enhancing the risk management level and international competitiveness of industry chain enterprises; it helps promote the effective connection between the financial and shipping markets, enhancing the level of shipping financial services; it helps enhance China's influence in international trade transportation services, serving the construction of a maritime power and shipping power.

　　Vice Chairman of the China Securities Regulatory Commission Fang Xinghai, Deputy Mayor of Shanghai Xie Dong, Deputy Director of the Water Transport Bureau of the Ministry of Transport Yang Huaxiong, Assistant General Manager of COSCO Shipping Group and President of the China Ship Agents and Non-Vessel Operating Common Carrier Association Han Jun, Executive Vice President of the China Shipowners' Association Zhang Shouguo, and President of the Shanghai Shipping Exchange Zhang Ye attended the listing event and delivered speeches, while Chairman of the Shanghai Futures Exchange Tian Xiangyang delivered a thank-you speech.

　　During the listing event, Director of the Futures Department of the China Securities Regulatory Commission Yang Guang read the China Securities Regulatory Commission's "Approval for the Registration of Shanghai Export Container Freight Index (European Line) Futures by the Shanghai International Energy Exchange Center." General Manager of the Shanghai Futures Exchange Wang Fenghai hosted the listing event.

　　In his speech, Fang Xinghai pointed out that the listing of shipping index futures is an important measure for China's futures market to implement President Xi Jinping's important instructions and the spirit of the 20th National Congress of the Communist Party of China, serving the construction of a maritime power. It helps enhance the risk management level and international competitiveness of shipping industry chain enterprises, enhances the market's ability to allocate shipping resources, and also helps promote the mutual development of Shanghai's international financial center and international shipping center.

　　Shipping index futures are the most innovative futures product in China's futures market in recent years. It is the world's first shipping futures product developed based on China's index and is China's first service-type futures product. It is the first index-type cash-settled futures product listed on a commodity futures exchange and is also a domestic specific product open to international investors.

　　In his speech, Xie Dong stated that Shanghai is fully promoting high-quality development, building five centers for international economy, shipping, finance, trade, and technological innovation, enhancing the city's level and core competitiveness, and striving to contribute to Shanghai's journey of Chinese-style modernization. The listing of shipping index futures has very positive significance for enhancing the influence of China's shipping industry in the international cycle and further improving the functions of Shanghai's international shipping center. At the same time, it is an organic combination point for Shanghai's construction of an international financial center and international shipping center, providing stronger financial support to assist the high-quality development of the shipping industry.

　　At the same time, it is hoped that the Shanghai Futures Exchange and the Shanghai Shipping Exchange will always uphold the original intention and mission of serving the national strategy, ensuring the smooth operation of shipping index futures under the guidance of the China Securities Regulatory Commission, increasing the supply of high-quality financial derivative products, and achieving market-oriented allocation of factor resources.

　　In his speech, Yang Huaxiong stated that in recent years, the water transport industry has deeply implemented Xi Jinping's Thought on Socialism with Chinese Characteristics for a New Era and important instructions, conscientiously implementing the decisions and deployments of the Party Central Committee and the State Council, promoting high-quality development of shipping with higher standards, greater efforts, and more practical measures, accelerating the construction of an international shipping center, and achieving great achievements. China has become a major shipping country with significant influence in the world. The listing of shipping index futures fills the gap in China's shipping derivatives market and is an important measure to accelerate the construction of a transportation power, build a world-class shipping center, and promote high-quality development of the shipping industry.

　　It is hoped that the Shanghai Shipping Exchange and the Shanghai Futures Exchange will continue to work hard, strengthen cooperation, seek progress while maintaining stability, innovate while adhering to principles, and promote the steady and long-term development of shipping index futures, better serving the development of the shipping real economy and the construction of a world-class shipping center. Our bureau will continue to support the construction of Shanghai's international shipping center as always, accelerating the high-quality development of the shipping service industry.

　　Han Jun stated that shipping futures products will provide freight pricing and risk management tools for COSCO Shipping Group and other shipping and foreign trade enterprises, assisting enterprises in stable operations. He also looks forward to continuously developing new products and tools around the shipping industry chain, further enhancing the high-quality development of the shipping industry and the real economy.

　　Zhang Shouguo pointed out that for many years, shipping freight rates have fluctuated sharply, especially in recent years with significant fluctuations in container freight rates, posing great challenges and risks to the production and operation of industry chain enterprises. The industry has strongly called for the introduction of relevant risk management tools. The listing of shipping index futures is timely, enhancing the resilience and safety level of the industry supply chain.

　　In his speech, Zhang Ye stated that for the global shipping industry, shipping index futures provide a reference for forward freight rate forecasts and freight rate risk management tools, enhancing the risk resistance capability of operating entities and playing a role in stabilizing and strengthening the chain. Next, the Shanghai Shipping Exchange will build a complete index governance system, formulate scientific and reasonable index compilation rules, strictly implement various risk control measures, ensure the safe and stable operation of the index, and assist the steady and long-term development of index futures.

　　In his thank-you speech, Tian Xiangyang stated that this year marks the beginning of fully implementing the spirit of the 20th National Congress of the Communist Party of China and is a crucial year for comprehensively promoting high-quality development. The listing of shipping index futures is a specific practice of the Shanghai Futures Exchange in deeply implementing the spirit of the 20th National Congress, increasing the supply of futures market products, steadily promoting opening up, and following the path of developing a modern capital market with Chinese characteristics. It is also an important measure to assist the construction of Shanghai's international financial center and international shipping center, and to assist the construction of a maritime power and shipping power.

　　Since 2003, the Shanghai Futures Exchange has partnered with the Shanghai Shipping Exchange to develop shipping index futures, taking 20 years. It has received guidance, support, and assistance from the China Securities Regulatory Commission, the Shanghai Municipal Party Committee and Municipal Government, relevant national ministries and commissions, relevant industry associations, spot enterprises, financial institutions, as well as news media and all sectors of society.

　　Representatives from relevant national ministries and commissions, responsible comrades from Shanghai, the securities and futures regulatory system, relevant industry associations, market institutions, and news media jointly witnessed this listing event.