Three Things to Know About China’s New Futures Law

China has passed its long-awaited Futures and Derivatives Law, aiming to better regulate the burgeoning market and bring rules more in line with international norms.

The law (link in Chinese) — China’s first to specifically regulate the futures and derivatives sector — was approved Wednesday by the National People’s Congress’ Standing Committee, the national legislature’s decision-making body. It will come into effect on Aug. 1.