Launch of the Zhengzhou Commodity Exchange Temperature Index for weather risk management

On November 18th, the Zhengzhou Commodity Exchange (ZCE) and the National Meteorological Information Center jointly launched the "ZCE Temperature Index", which provides a comprehensive "yardstick" for assessing weather risks in industries related to the real economy.

11月18日，郑州商品交易所与国家气象信息中心联合发布“国家气象信息中心-郑州商品交易所气温指数”（以下简称“郑商所气温指数”），标志着实体经济识别天气风险有了“度量衡”。

According to the ZCE, "The Temperature Index consists of six sub-indices: the Minimum Temperature Index, the Maximum Temperature Index, the Daily Average Temperature Index, the Pentad Average Temperature Index, the Cooling Degree-Hour Index, and the Heating Degree-Hour Index." Each of these sub-indices serves a specific purpose and is designed to cater to the needs of key sectors such as energy and agriculture. The Temperature Index will enable industries including energy and electricity to better measure temperature-related risks, while also providing more precise and powerful support for the pricing and innovation of agricultural insurance.  

“郑商所气温指数包含最低气温指数、最高气温指数、日均气温指数、候均气温指数、制冷度时指数、取暖度时指数等六类子指数。”郑商所相关负责人介绍，六类子指数分工不同，将有针对性地服务能源、农业等重要领域，有利于能源电力等行业精确衡量气温风险，同时为农业保险定价和创新提供更加精准有力的支持。

The futures market has played a key role in enhancing the mechanisms for transferring and dispersing weather risks, with more than 20 years of practical experience in international markets. As weather-sensitive industries such as agriculture, energy, tourism, and retail continue to grow in China, the demand for effective weather risk management in the operation of the national economy is increasing.　

发挥期货市场功能、健全天气风险转移分散机制，在国际市场已有20多年的实践探索。随着我国农业、能源、旅游和零售等天气敏感型行业逐步发展，国民经济运行中的天气避险风险需求持续增长。

According to the 14th Five-Year Plan for National Meteorological Development, it is clearly stated that the development of weather index insurance, weather derivatives, and new climate investment and financing products should be promoted. In recent years, the Zhengzhou Commodity Exchange (ZCE) has been advancing along the path of "research projects–index compilation–system development". In September of this year, the ZCE Temperature Index passed its evaluation and was successfully piloted. Its official release marks an important step forward in the collaboration between "meteorology" and "finance" to serve the real economy.   　　　

根据《全国气象发展“十四五”规划》，明确要发展天气指数保险、天气衍生品和气候投融资新产品。近年来，郑商所沿着“课题研究—指数编制—系统开发”的路径探索前行。今年9月，郑商所气温指数通过验收并成功试运行。本次郑商所气温指数正式发布，意味着“气象”与“金融”合作服务实体经济又迈出重要一步。

It is reported that the ZCE Temperature Index is released daily on its official website, where users can log in to view detailed information on the index levels, historical trends, compilation plans, news updates, and more. Users can also download the index data as needed. In the future, the ZCE will focus on serving areas such as food security, energy security, green transformation, and the development of new quality productive forces, continuously exploring weather derivatives that align with China's national conditions. (Chinese source: Henan Daily Reporter: Hu Shutong Translator: Ding Lan)

据悉，郑商所气温指数每天在官方网站定时发布，用户可登录网站详细了解指数点位和历史走势、编制方案、新闻动态等，并根据需要下载指数数据。未来，郑商所将立足服务粮食安全、能源安全、绿色转型和新质生产力发展等方面，不断探索符合我国国情的天气衍生品。（中文来源/河南日报 记者/胡舒彤 编译/丁岚)