BEIJING, Oct. 11 (Xinhua) -- China has issued a set of guidelines to strengthen the regulation of its futures market, effectively preventing risks and promoting its stable operations and high-quality development.

The guidelines aim to enable the futures market to support the maintenance of industrial and supply chain security, economic and financial security, and the stability of social expectations. They also aim to serve the high-quality development of the real economy in an improved manner, and were forwarded by the General Office of the State Council on Friday.

By 2029, a general regulatory futures system framework and business model with Chinese characteristics should be established, per the guidelines issued by several government agencies, including the China Securities Regulatory Commission.

By 2035, a secure, standardized, transparent, open, vibrant and resilient futures market system should be created, with major commodities attracting the full participation of global traders, the guidelines say.

They state that by the mid-21st century, a world-class futures exchange will be established, with a complete range of products, comprehensive functions, efficient services and stable operations.

Efforts from various perspectives should be made, including strict supervision over futures trading activities, a crackdown on illegal activities and behaviors that violate the rules of the futures market, and the steady promotion of the opening-up of the futures market, per the guidelines.