Summer Playlist 2026 Episode 5 | Josh Qiao, CEO, Yongan International Financial SG

August 8, 2026

AI Summary

5 min read

In 2025, lithium carbonate futures trading volumes on the Guangzhou Futures Exchange surged. For Josh Qiao, CEO of Yongan International Financial SG, that surge is one signal of a broader rotation: two years ago the action was in base metals, last year in precious metals, and this year, energy is taking the lead. Qiao’s firm is one of the first overseas intermediaries to provide international traders access to China’s five major commodity exchanges, and he sees the opening of those markets as a structural shift that will reshape global commodities trading.

How China’s Futures Markets Work (and Why International Traders Need a Guide)

China’s futures markets are enormous, liquid, and increasingly accessible to foreign participants, but they operate with rules that differ from Western exchanges. Qiao highlights several key distinctions. In China, a trader can hold both long and short positions in the same contract simultaneously, something most international markets do not permit. Margin requirements also behave differently: when prices rise, the margin needed for a long position increases, rather than remaining static. Position limits tighten as contracts approach expiration, and Chinese regulators recently introduced stricter rules on programmatic trading. These differences mean that simply plugging into the market is not enough—firms like Yongan must constantly educate cl

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What you'll learn

1 (02:10) **Introduction: Josh Qiao, CEO of Yongan International Financial SG** - Dave Greely introduces Josh Qiao, CEO of Yongan International Financial in Singapore, to discuss providing access to China's futures and options markets for international traders.
2 (04:12) **International Trader Interest: What Markets Are Hot in China** - Qiao describes the range of Chinese markets attracting international traders and the types of clients entering them.
3 (06:13) **Why Singapore? The Strategic Hub for Chinese Market Access** - Qiao explains Yongan's strategic decision to base its international operations in Singapore.
4 (07:28) **Mutual Benefits: What China and International Traders Seek** - Qiao outlines the strategic rationale for China opening its markets and what international traders hope to gain.
5 (08:48) **Key Differences: How Chinese Markets Work vs. International Norms** - Qiao highlights structural differences in Chinese futures markets that international traders must learn.
6 (10:27) **Becoming a Clearing Member of ABAX Exchange: The Strategic Fit** - Qiao explains why Yongan chose to become the first China-mainland backed clearing member of ABAX Exchange in Singapore.
7 (12:09) **Trend Shifts: From Base Metals to Energy and AI** - Qiao describes the shifting focus in commodity markets over recent years.

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Show Notes

This week on our Summer Playlist, we welcome Josh Qiao into the SmarterMarkets™ studio. Josh is CEO of Yongan International Financial SG. David Greely sits down with Josh to discuss how Yongan is providing access to China’s futures and options markets for international traders, why it chose to become a clearing member of Abaxx Exchange, and the opportunities this creates in the commodities futures markets.