Guangzhou Futures Exchange signed a strategic cooperation agreement with the China Nonferrous Metals Industry Association in Guangzhou on May 26.

The two sides will carry out all-round strategic cooperation in areas spanning the research and development of new energy metal futures, realizing peak carbon emissions and achieving carbon neutrality. 

Ge Honglin, chairman of the China Nonferrous Metals Industry Association, said that the futures market is an efficient risk management market and is a major platform for optimizing the pricing system of the nonferrous metal industry.

Ge added that the Guangzhou Futures Exchange is a major piece of national financial infrastructure. It shoulders the responsibility of serving national strategic development and the real economy, he said, and the association will fully support the innovation-driven development of the Guangzhou Futures Exchange.

Hu Zheng, Party secretary of the Guangzhou Futures Exchange, said that Guangzhou Futures Exchange was set up with the aim of serving green and low-carbon development, the construction of the Guangdong-Hong Kong-Macao Greater Bay Area, and the development of the Belt and Road Initiative. 

Hu noted that the resources and professional advantages of the association will help the Guangzhou Futures Exchange quickly and efficiently carry out research into related industries and R&D of products to further increase the capacity of futures markets serving the real economy.

The agreement is also expected to make contributions to the establishment of a modern industrial pattern featuring futures and spot products in the nonferrous metal industry, and to increase the influence of China's nonferrous metal industry.