| China as the biggest country of consumption and importing country in the whole world bulk commodity market, because of Lacks of the pricing power, therefore, our country must undertake the risk of the international market rises in prices. China became the biggest victim in international bulk commodity market. As the international commodity buyers, paid a heavy price at the same time, the development of derivatives markets for international pricing has become a most important problem which is can not be avoided and need to be looked at a high degree of economic security. And the issue of the international pricing of bulk commodities is becoming increasingly been widespread concern in all sectors of the community.This article studied the pricing of the bulk and the related question by theory and empirical analyzes. We studied the reason of lacking of pricing in the bulk commodity market, and based the theory and empirical analysis; this article gave the feasible suggestion and the strategic choice by the government, the profession association and enterprise's angle separately. This paper is divided into seven chapters, specific studies are as follows:Chapter 1 is introductory. This chapter is Consul-General section of this article, including background , significance of the research at home and abroad , innovation and deficiency, the key issues to be solved and the.Chapter 2 is the Connotation of the pricing of international bulk commodity. This chapter mainly study the Connotation of the bulk and the related issues, and based on national economic security perspective, we analysis of the status of commodity pricing. At last, we point out the Misunderstanding of pricing.Chapter 3 is the pricing mechanism of bulk commodity and its evolution studies. First of all , full market conditions and under the conditions of non-full market commodity pricing mechanism has been studied, followed by an analysis of domestic and international bulk commodity pricing mechanism and its evolution. The emergence of the derivatives markets and it's improve has not only changed the pricing mechanism, and with the vigorous development of derivative markets, derivatives play more important role in the pricing of bulk commodity.Chapter 4 is the status quo of the bulk commodity pricing of China. This chapter examines the ability of China's commodity prices and the problems of the status quo firstly, and then, we analysis the process of China in the fight for the pricing dialectically, and based on the above analysis, summarized the internal and external reason for the missing of the bulk commodity pricing power of China.Chapter 5 is the empirical research of the futures market influence of pricing in Chinese bulk commodity market. This chapter uses the GARCH econometric model, ECM models and IS models of methods, quantitative analysis the Volatility, information transmission capacity and contribution of information changes in the market before and after the open of China's futures market. We found an overall increase of open futures market volatility and enhance the effectiveness of information. China's futures market price discovery capability has been enhanced.Chapter 6 is the strategies and countermeasures of how to improve the ability of China's commodity pricing. This chapter focused on two studies, firstly, based on national economic security strategy, the strategic studies of how to build an international commodity pricing center; secondly, based the "three-level management" ,the response research to improve the ability of China's commodity price.Chapter 7 is the main conclusions and future outlook. Through the whole text analysis, in this chapter the main conclusions are summarized. Looking in the future, the development of Chinese derivatives market will mainly face both challenges and opportunities of the situation, how to turn challenges into opportunities, which is the urgent need to be resolved. |
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