Bank of China recently facilitated the first batch of lithium carbonate futures and options trades by overseas participants.

Lithium carbonate futures and options on the Guangzhou Futures Exchange (GFEX) — located in Guangzhou city, capital of China's Guangdong province — were recently opened to overseas traders as specified domestic products. As one of the first banks designated by GFEX to hold margin deposits for overseas clients, BOC assisted several overseas intermediary institutions and leading enterprises in the global new energy industry chain in completing the trades.

BOC promptly responded to the risk management needs of foreign clients by providing a comprehensive financial solution that covers account management, margin custody, cross-border custody, and RMB clearing. The successful completion of these trades marks a key step forward for China's international pricing power for lithium resources.

Since the listing of China's first internationalized futures product in 2018, BOC has been deeply involved in this field. It has become one of the first depository banks to provide services to both domestic and overseas clients at all six futures exchanges in China. BOC has consistently ranked among the market leaders in the number of overseas investors it serves in the futures market. 

Bank of China will continue to provide better and more efficient cross-border derivatives services, helping futures products such as lithium carbonate play a greater role in supporting the global low-carbon transition and green development and contributing to the high-quality development of the real economy.