5月9日，由財新智庫和格盛資產合作編制開發的中國大宗商品指數（China Commodity Index, CCI）正式上線。該指數包含中國三大商品期貨交易所32種實物商品期貨合約，依據產量和流動性進行權重分配，旨在成為中國有形商品期貨多元化多頭投資的基準指數。

中國大宗商品指數包含五個板塊，分別是能源、農產品、食品和纖維、工業金屬和貴金屬，為保持指數的全面性和分散化，任一商品板塊不能超過總權重的35%，單一商品的權重不可超過10%。根據2018年4月指數月報顯示，4月末中國大宗商品指數報收173.51，較上月上漲2.39%，其中工業金屬板塊漲幅靠前。

Caixin Insight, a sister company of Caixin Media, and U.S. asset manager Gresham Investment Management LLC have launched an index that aims to become a benchmark for China’s commodity futures market.

The China Commodity Index (CCI) gauges price changes in 32 contracts of 28 commodities traded on the country’s three futures exchanges in Shanghai, the northeastern city of Dalian and Central China’s Zhengzhou, the two companies said in a joint statement on Thursday.

“The China Commodity Index is intended as a benchmark for diversified long-only investment in Chinese exchange-traded tangible commodity futures, which will provide investors, both foreign and domestic, with an effective, scientific tool to track and invest in Chinese commodity futures,” it said.

To be included into the index, a contract must have been actively traded for at least three years with an annual value of transactions that exceeds 170 billion yuan ($26.7 billion).

The index covers five groups of commodities: energy, agricultural products, food and fibers, industrial metals, and precious metals.

To ensure the indicator is highly diversified, the weight of each commodity in the index is capped at 10%, while that of each group can be no more than 35%.

In April, the CCI closed at 173.51, up from 169.46 a month ago, with hot-rolled steel coil, rebar and thermal coal leading the increase, according to the first official monthly report about the index, which was released on Wednesday.

Caixin Insight is a provider of Chinese business and financial data, macroeconomic research and consulting services.

Gresham Investment Management, based in New York, specializes in investing in commodity futures. It managed more than $7.5 billion for its clients as of March.

本文來源：財新英文 作者：Fran Wang

2018年05月11日