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Fees for commodity trading rise
By Wang Yanlin |
November 26, 2010, Friday
|
Print Edition
Print Edition
MAJOR commodity markets in China will increase fees for trading agricultural products and metals futures as part of government efforts to limit speculation.
The Dalian Commodity Exchange said yesterday that investors will not be able to pay half the normal fees for contracts bought and sold on the same day. It will also stop all discounts from January 1, 2011.
The Zhengzhou Commodity Exchange and Shanghai Futures Exchange said they will extend fees that are now imposed on some contracts to other products.
The government has been under great pressure to tame inflation after consumer prices surged to a 25-month high of 4.4 percent in October.
Hu Xiaolian, a deputy central bank governor, said on Wednesday that the People's Bank of China will use all policy tools to steer prices back to normal.
Last Friday China forced banks to put aside more funds from lending by hiking reserve requirement ratio, the second time in a month.
The Dalian Commodity Exchange said yesterday that investors will not be able to pay half the normal fees for contracts bought and sold on the same day. It will also stop all discounts from January 1, 2011.
The Zhengzhou Commodity Exchange and Shanghai Futures Exchange said they will extend fees that are now imposed on some contracts to other products.
The government has been under great pressure to tame inflation after consumer prices surged to a 25-month high of 4.4 percent in October.
Hu Xiaolian, a deputy central bank governor, said on Wednesday that the People's Bank of China will use all policy tools to steer prices back to normal.
Last Friday China forced banks to put aside more funds from lending by hiking reserve requirement ratio, the second time in a month.
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