Institutional interventions and performance of futures markets in China

Leo H. Chan, Kam C. Chan, Wai K. Leung

Research output: Journal PublicationReview articlepeer-review

8 Citations (Scopus)


We study the establishment and development of the most successful futures market in China. We document the evolution of the market microstructures and the attempts by the Zhengzhou Commodity Exchange's management to improve the performance of the futures market. Our finding suggests that if other former centrally planned economies want to establish futures markets, they must think carefully not only of the design and microstructure of the futures market, but they also have to choose carefully what contracts to offer.

Original languageEnglish
Pages (from-to)43-55
Number of pages13
JournalEmerging Markets Finance and Trade
Issue number5
Publication statusPublished - 2005
Externally publishedYes


  • China
  • Futures markets
  • Intervention

ASJC Scopus subject areas

  • General Economics,Econometrics and Finance
  • Finance


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