Futures law to make capital market more open

With China's top legislature adopting a new law on futures and derivatives trading on Wednesday, a more regulated and open capital market will take shape in China and it will be conducive to the sustained development of the real economy, experts said on Thursday.

The new law, which will take effect on Aug 1, is the first of its kind in the country since futures and derivatives trading commenced three decades ago. It was approved at a session of the Standing Committee of the National People's Congress.

Basic rules to govern futures trading, settlement and delivery are in the new law, said Wang Xiang, deputy head of the Office for Economic Law of the NPC's Legislative Affairs Committee.