Ping An, Hong Kong Exchanges, 6 others plan Guangzhou Futures Exchange – Caixin

Shareholders including Ping An Insurance (Group) Co. of China Ltd. and Hong Kong Exchanges & Clearing Ltd. are planning to establish the Guangzhou Futures Exchange, Caixin reported Feb. 5, citing sources close to the exchange.

Owned 15% by Ping An and 7% by the Hong Kong stock exchange's operator, Guangzhou Futures Exchange will be the first bourse in China to run as a company with some private stakeholders.

Eight shareholders with a collective registered capital of 3 billion yuan are part of the plan. A Guangzhou-based private company and another owned by the local government with a 9% stake each in the exchange are also participating, the publication added.

As of Feb. 5, US$1 was equivalent to 6.47 Chinese yuan.