Foreign funds are bulls in China’s onshore commodity futures
Growing participation from overseas investors is boosting liquidity in what’s already a boom market

China’s onshore commodity futures markets are attracting growing participation from foreign funds – lured by large volumes and high retail activity – in assets uncorrelated to other global markets.
“We’ve seen volumes from our clients [trading internationalised contracts] increase quite dramatically – to about two times the previous year’s volume,” says Max E, Asia-Pacific head of listed derivatives clearing product at Deutsche Bank, which began to offer the product in late 2022.
The head of