In the morning, the special train was driving on the railway and made a sound of "better, not bad, not bad". In the special train car, Uncle Hao looked at the scenery of the rapid retreat outside the window, and felt deeply moved: The train can really change the world.

The first phase of Guanzhong Railway (east end) was completed and opened to traffic this fall, but the railway is still in the trial operation stage, mainly freight. At the same time, some departments are still seizing time to improve the supporting facilities along the route.

At the beginning of the coming year, this railway will be officially launched, and then Chang'an South Station and North Station will be officially put into use.

According to the plan, Chang'an South Station is mainly for civilian use, while Chang'an North Station is for official use (military use). This morning, Hao Wubo boarded his own special train at Chang'an North Station and headed to Weikou Station.

The whole journey was nearly 300 miles, and the station was not stopped in the middle, which took about six hours. When I arrived at Weikou Station, I rested for one night, and then I arranged a ceremonial battle the next day, and walked out of Tongguan on the official road, and went to Xingzhou via Luoyang.

If you walk from Chang'an to Weikou, it usually takes seven days to walk the official road. With Hao Wu Bo as the magistrate, the team is of course quite good. There are thousands of people, and it takes seven days to arrive near Weikou.

Now, the same number of people can arrive in six hours, saving time, effort and cost.

When Chang'an and Luoyang are connected to the railway in the future, the total length is about 700 miles. Departing from Chang'an early that morning and you will be able to arrive in Luoyang in the evening.

By then, Dongdu would seem to be a city in the outskirts of Chang'an, just seven miles away.

Thinking of this, Uncle Hao retracted his thoughts and looked at the information on the desk.

When he was young, he read at night and learned knowledge. Unexpectedly, he was already at the age of knowing destiny and had to read at night and learn knowledge of futures trading.

Futures trading was first born in Xiyang. The emergence of futures trading originated from existing pre-order, credit trading, and based on spot expected trading.

However, only the increasing demand for commodity production, trade and processing will stimulate the generation of futures trading.

As the party involved, Hao Wu Bo can be said to have watched Huangzhou "grow up", so he knows some specific reasons for the birth of futures trading.

As Xiyang, Huangzhou developed into an important agricultural product distribution center and processing center, a large number of agricultural products were bought and sold in Xiyang, and merchants bargained and traded in the market in the traditional way.

This trading method causes extremely severe price fluctuations. During the harvest season, a large amount of grain is transported to Xiyang, and there is an oversupply of supply, resulting in a plummeting grain price, which often makes it impossible for merchants who transport grain to sell food to recover freight fees.

In the spring of the following year, the lack of food was not met, resulting in the large number of people who had left production (without agricultural production) in Xiyang City that did not meet the demand for food, so prices rose.

In order to solve this problem, many grain merchants appeared in grain production areas (such as the Han Mian area). Local grain merchants set up shops, built warehouses, purchased farmers' grain and stored them.

According to traditional practice, these grain merchants purchase grain that farmers have not yet harvested in spring through pre-purchase. When the autumn is over, they store the purchased grain first and then export it in batches.

This approach can prevent the price plummeting caused by concentrated grain listing and causing losses to grain merchants.

However, there are two problems in the process of selling grain: Grain merchants usually need to borrow money from the cabinet to have sufficient funds to pre-purchase grain from farmers and ensure that there is enough grain stored in the warehouse in the autumn.

Secondly, in batches, the grain stored in warehouses faces huge price risks after winter.

If the stored grain is sold in the next year, it is very likely that the price fluctuations at this time will cause grain merchants to lose money and even fail to recover the costs.

The best way to solve these two problems is to "sell before buying". Before setting up a grain pre-purchase contract with farmers, the grain merchants negotiated a grain sale contract with the "sitting merchants" in Xiyang, Huangzhou through pre-sale.

This approach allows grain merchants to transfer price risks, so forward transactions with pre-order and pre-sale have become a common trading method.

Similarly, sellers engaged in the sale of raw materials such as hemp also reduce their operating risks according to the grain merchants' methods.

Traders and producers in Xiyang are also facing the problems faced by grain merchants.

Grain merchants and raw material suppliers can reduce risks through pre-order and pre-sale, and traders and manufacturers can naturally do so.

So they also estimate the expected grain price (or raw material price) at the delivery, and then negotiate forward transaction contracts with the seller at a price lower than this price to avoid the risk of a decline in the delivery price.

Because the buying prices of traders and producers in Xiyang are too low, in order to ensure their own interests, grain merchants and raw material merchants who negotiate forward contracts have to find a wider range of buyers and set a good selling price for their grain, hemp and other raw materials.

Some non-grain vendors and raw material suppliers think this is profitable, so they first buy forward trading contracts from others, and then sell them until the delivery time is approaching, making a profit.

This evolved into futures speculative trading. As a result, the purchase of forward trading contracts has gradually increased, promoting the scale of the futures trading market, thereby improving the income of grain merchants and raw material suppliers, and the fees they paid to farmers have also increased.

Therefore, when the futures exchange was established in Xiyang, Huangzhou, no matter what type of merchant, they could gain benefits, and the increasingly active futures trading also played a role in stabilizing prices.

It also indirectly protects the interests of farmers. After all, many farmers do not have any sales channels. When the grain is on the market in the autumn, they have to endure the low price and sell the hard-earned grain at a low price.

The pre-purchase of grain merchants can initially alleviate this problem. With the grain pre-purchase supported by futures trading, grain merchants can "pre-sale" well, so their profits are guaranteed, so they are willing to give higher pre-purchase prices, which is a good thing for farmers.

Farmers who grow grain can benefit indirectly from futures trading, and farmers who grow fruits, vegetables, cotton, linen, and sugarcane can also benefit indirectly.

The so-called futures trading that takes the people as the basis and food as the general rule can protect the interests of farmers to a certain extent is equivalent to having a good amulet.

It is precisely this reason that when calls for opposing futures trading (mainly speculative trading) between the government and the outside world are rising, Hao Wubo and others who support futures trading can defeat opponents in fierce debates by relying on the facts that they understand correctly.

However, the speculative attributes of futures trading are very dazzling, and many people are still dissatisfied with this and have raised various doubts, including many insightful opinions.

In response, the court's decision was to strengthen supervision of futures exchanges, improve various rules and regulations of futures trading, and avoid malicious futures trading speculation as much as possible, resulting in severe fluctuations in prices of important commodities such as grain, cloth, and cotton.

Xingzhou Futures Exchange is the "general number" of the Tianxia Exchange. It can be said that it is the core of the spider web of futures trading. Therefore, Hao Wubo, who shoulders the mission, went to Xingzhou as a senior official, and wanted to further improve the futures trading system.

We must not only regulate futures trading behaviors, but also calm criticism from opponents. At the same time, we must also prepare for the future.

Hao Wu Bo has been making up for the relevant knowledge of futures trading these days and learned that there are many complex "playing methods" in futures trading. If industry and businessmen can apply what they have learned, then the trading method of futures trading will be like a tiger to the development of the industrial and commercial economy.

The court should vigorously develop industry and commerce, so futures trading is impossible to cancel. Merchants can gain benefits from futures trading, and the court can also benefit from it.
Chapter completed!