Strengthening Academia-Industry Collaborative Research to Promote Futures Services for the Real Economy — Faculty Members from IBSS Participate in “Agricultural Chemicals Market Research in Hubei”

In order to further promote talent development in the futures industry, enhance the understanding of the futures market and its applications in the real economy among university faculty, students, and related personnel, and foster deep integration between the futures market and the real economy, Futures Daily, with strong support from the Zhengzhou Commodity Exchange (ZCE), organized the “Agricultural Chemicals Market Research in Hubei” from July 28 to 31.

Dr Bo Jiang and Dr Liang Fu, Assistant Professors in the Department of Economics at the IBSS, Xi’an Jiaotong-Liverpool University, participated in the research initiative as representatives of the School. They actively engaged in in-depth discussions with enterprises and industry experts, fully demonstrating the school’s academic strength and practical focus in the integration of futures markets and the real economy. The initiative also attracted experts and scholars from several renowned universities across China, including Dalian University of Technology, South China Agricultural University, Jinan University, Wuhan University, China Agricultural University, Shaanxi Normal University, China University of Petroleum (Beijing), and Zhongnan University of Economics and Law. Together, they conducted joint research and discussions on the development and application of the futures market.

The expert group conducted on-site visits and held discussions at several enterprises in Hubei Province, focusing on the spot market performance and industrial development trends of ZCE-listed products such as soda ash, cotton, and rapeseed oil.

During the field study, the expert group first visited the No. 337 Branch of the Hubei Bureau of the National Food and Strategic Reserves Administration, where they gained insights into the high competency requirements for futures delivery warehouse positions in areas such as professional knowledge, market analysis, risk control, and professional ethics. The group then visited Chengdu Yuntianhua Co., Ltd., where they examined the in-depth application of futures instruments in integrating spot and futures operations within the chemical and soda ash businesses. They also explored how different departments coordinate to manage business risks using futures tools. At Hubei YinFeng Cotton Co., Ltd., company representatives showcased a complete cotton industry chain built around cotton futures and a business model centered on basis trading. They also recommended that universities strengthen practical teaching and training in the field of commodities. Wuhan Yuda Hua Group emphasized that professionals need comprehensive capabilities—including risk forecasting, market analysis, spot-futures integration, and derivative application—to respond to rapidly changing market conditions. Finally, Zhongnan Trading Co., Ltd. of Hubei Provincial Grain & Oil Group highlighted the urgent need across roles such as operations, research, and statistics for talent capable of long-term trading and risk management system development. They suggested that universities align talent cultivation with practical industry needs to enhance the overall competitiveness of futures professionals.

Through this field study, university faculty members not only deepened their practical understanding of how the futures market serves the real economy but also gained valuable experience to support future teaching reform and talent development.