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正确认识期货套期保值 “需求创造市场”,这是西方资本主义国家的一句老话,同样,期货市场的产生也源自从事商品生产、买卖和加工业务的生产商、贸易商、加工商的需要,早期的期货市场是以谷物作为主要交易商品的,其存在的首要目的是为了实际交割,发挥的最重要作用是对存货进行套期保值。不管是生产商、贸易商或加工商,如果手中有商品或者想在未来某个时期拥有商品,其不可避免地要承受价格不利变化的风险,而期货市场的存在则为套保者提供了一个转移价格风险的工具。正因为此,期货市场才得以在市场经济国家持续不断发展。 我国在上世纪八十年代以前,执行的是计划经济,商品的价格由
Correct understanding of futures hedging “demand creates the market” is an old saying in Western capitalist countries. Similarly, the futures market is also derived from the needs of producers, traders and processors engaged in the production, trading and processing of commodities , The early futures market was based on cereals as the main traded commodity. The primary purpose of its existence was for actual delivery. The most important role to play was to hedge inventories. Whether a producer, a trader or a processor, has a risk of inequitable price changes inevitably if there is a commodity in hand or wants to own a commodity in a future period, the presence of the futures market provides the hedger with a A tool to shift the price risk. Because of this, the futures market can only continue to develop in market economy countries. Before the eighties of last century, China implemented the planned economy with the prices of commodities