Fund experts sceptical about Chinese firms managing futures

China seems set on delivering market shocks at the turn of a new decade. Not only has it decided to rein in excess liquidity by raising bank reserve rates, it has finally announced its plan to develop stock index futures, after years of delay. (No doubt held back by some of the failed experiments with bond futures in the 1990s.) On the upside, the general belief is that investors should benefit from enhanced transparency, deeper market development, product enhancement, and so on. Thi…