"Japan heats up 'Shanghai Natural Rubber Futures', accelerating the opening up of China's futures market"

In May 2025, with the official listing of the "Shanghai Natural Rubber Futures" contract on the Japan Osaka Exchange, the high-level opening of the Chinese futures market entered a new stage. Natural rubber is an important raw material for industries such as automotive and aviation, and its price fluctuations directly affect the stability of the global industrial chain. China and Japan are the main consumer and trading countries of natural rubber, and "Shanghai Natural Rubber Futures" can also become a pricing benchmark and risk hedging tool for Japanese and global investors and trading companies. Gao Yiming, senior manager of the Commodities Division of the Shanghai Futures Exchange, introduced that this authorized contract innovation adopts a pricing model directly referencing the Renminbi price of "Shanghai Rubber", directly using the Renminbi price of the delivery settlement of the Shanghai Futures Exchange natural rubber futures as the trading point for the Japan Osaka Exchange contract, with each point multiplied by 100 Japanese yen for cash settlement. This eliminates the need for currency conversion and tax deductions, providing a transparent and convenient risk management tool for the global industrial chain and investors, and realizing the direct output of prices in China's futures market to overseas markets in Renminbi. Industry insiders believe that achieving "Chinese prices" through institutional innovation enriches the application scenarios of "Chinese prices, global transactions". At the same time, the "Renminbi pricing + Japanese yen settlement" model not only retains the core pricing position of the Renminbi price but also avoids the exchange rate fluctuations of overseas investors holding the Renminbi directly, which helps to enhance the international influence of the "Renminbi Rubber Price" and the acceptance of Renminbi pricing in international trade, to a certain extent, it is conducive to promoting the internationalization process of the Renminbi.