File photo:Xinhua

China's top securities regulator announced Friday that it has decided to establish a working group for the launch of a futures exchange in the southern city of Guangzhou.

Approved by the State Council, the move marks that the launch of the new futures exchange has entered a significant stage, the China Securities Regulatory Commission (CSRC) said in an online statement.

File photo: CNSphoto

The launch of the futures exchange is important for the reform and development of the country's futures market, according to the CSRC.

It will also help boost the high-quality development of the real economy, and promote the construction of the Guangdong-Hong Kong-Macao Greater Bay Area, as well as the Belt and Road, the CSRC said.