What they really want (by forming joint ventures) is to get familiar with the local market, but not for money-making at present.

Foreign investors have more lucrative investment sectors to put their money into, but the futures market is clearly not a sound option for them now as it is not profitable industry for the time being.

It could broaden their investment channels as they could engage in business that is currently unavailable in domestic market such as trading of financial derivatives.

They choose to establish joint ventures with us because it helps them to obtain market shares in advance. Another reason could be China's rubbish content is different from many other countries. Their technology needs some local adjustments.

Domestic futures industry's enthusiasm for branching out in Hong Kong is obviously strong.

None of the global joint ventures have been able to execute.