Zhu Yuchen: Stock index futures cannot turn a bear market into a bull market

May 2009 15-16th The second Lujiazui Forum was held in Shanghai's Pudong Shangri-La Hotel, the theme of the Forum is "global economic and financial market outlook".　　On the afternoon of May 16, "New opportunities in China's capital markets", Zhu Yuchen, general manager of China's financial futures exchange, said the market should look at the introduction of stock index futures in a normal way, its introduction cannot turn a bear market into a bull market, and it is a simple hedging tool. The following is part of its transcript: [Qi bin] The last question to ask Zhu, we still more puzzled, because now after the financial crisis, we feel that many financial products must be able to serve the real economy, if the separation will be a new problem. People do not quite understand the stock index futures and financial derivatives, what is the real economy to help? Zhu's three years of thinking may be more profound than our understanding.　　Zhu always speaks in simple language. [Zhu Yuchen] Chechecis director. All I want to say right now is to help me do some subtraction. stock index futures to introduce the Chinese market for the first time so long did not launch. Everyone is too rich in this imagination, attach a lot of responsibility to us, attach a lot of functions. I would like to say first, do not see how great the stock index futures, can not take the bear market into a bull market, also can not control the bull into a bear market. It is a tool, it does not have such a large function, this thing out of the rescue, can be the stock market development to what extent. It's not so great. Second, it is not so sinister, this thing came out after the upside down, some people write stock index futures will affect food security, too much pressure.　　I want to be appropriate, this product is normal Heart, the world has been running for 20 or 30 years, the function is still relatively smooth, the product is not too troublesome. [Zhu Yuchen] In the midst of the global financial crisis, stock index futures have also become the refuge of the fleeing warehouse. We should publicize that the stock index futures should return to the right track, it is a simple hedging tool, the normal view of the product. Thank you!