China’s Zhengzhou Commodity Exchange said it will promote the introduction of qualified overseas traders in the trading of cotton futures. The exchange listed the goal in a recently-issued white paper on cotton futures. As the world’s largest producer, consumer and exporter of textile, China listed cotton futures on the exchange in June 2004 to help cotton-related enterprises hedge the price risk. Since 2004, a daily average of 144,000 lots (5 tonnes per lot) have been traded.
