Qualified enterprises engaged in bulk commodity production or cross-border trade are allowed for cross-border hedging under the FT accounts, but such services should be entrusted to domestic futures operating institutions approved by the top financial regulatory departments. These institutions should have obtained overseas futures brokerage qualifications, according to the new provisions.

　　These measures indicate that financial institutions are given more room to come up with innovative services catering to companies' specific demand, said Cao.

　　Ma Chenguang, senior partner of Co-effort Law Firm LLP in Shanghai, explained that the implementation of the new provisions requires coordination from various municipal and national departments. Therefore, the provisions should be better connected to the international practices and China's national-level financial regulations. In this way, the FT account can explore the application scenarios, which is conducive to the renminbi's higher influence in the international market, she said.