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SHANGHAI Kyle Murphy Jersey , Feb. 9 (Xinhua) -- The Chinese mainland launched its first stock options on Monday, giving investors more tools to manage risks as the country's stock market showed signs of losing steam after gaining 53 percent last year.


Shanghai Party Secretary Han Zheng and China Securities Regulatory Commission Chairman Xiao Gang opened the market for the option trading at the Shanghai Stock Exchange.


The first day's trading involved transactions on about 18,800 contracts. Premium trade volume reached 29 million yuan (4.4 million U.S. dollars), according to statistics from the Shanghai Stock Exchange.


"We hope the introduction of stock options will provide domestic investors diverse choices, promote product innovation and enrich trading strategies Jahri Evans Jersey ," said Huang Hongyuan, general manager of the Shanghai Stock Exchange.


Huang said he expected the stock option would better reflect market sentiments and increase pricing efficiency.


Option trading could accommodate the needs of insurance companies and pension funds, improving the structure of funds in the market, he added.


The Shanghai Stock Exchange requires individual investors to have at least 500,000 yuan in their accounts to trade options Davon House Jersey , while institution investors must hold at least one million yuan.


The benchmark Shanghai Composite Index rose 0.62 percent to end at 3,095.12 points as the stock option 50 ETF was introduced.


The Shanghai Composite Index, the world's best performer in the last year, sagged in most trading days in the past two weeks because of pressures from tightened stock financing and waves of initial public offerings (IPOs).


Chen Dongwei, an analyst with CITIC Securities Vince Biegel Jersey , said the introduction of the derivatives had given steam to banking, insurance and securities traders.


Western Securities Co. Ltd. increased 10.02 percent to close at 32.07 yuan per share, while China Minsheng Banking Corp. Ltd. rose 1.87 percent to end at 9.24 yuan.


"The risk-control tool will help improve stock market liquidity and boost investor confidence," said Qiu Yanying, chief analyst at V. Stone Jamaal Williams Jersey , a private fund.


The Shumi Fund Research Center wrote in a note that the option would have little impact in the near term, but in the medium and long term, the option trading would develop more products and make "potential and gradual influences" on the valuations of blue chips.


Chinese regulators have been trying to help individual investors better manage their risks by building a comprehensive derivative system. China introduced stock index futures in 2010 for investors to bet on future price movements.


The Shanghai Stock Exchange will expand the scope of assets that the options can be bet on as it develops comprehensive arrangements of security deposits, according to a report from the exchange.


In phone call with premier, newly elected leader says country 'will not change' existing programs


Greece's newly elected Prime Minister Alexis Tsipras assured Premier Li Keqiang in a telephone conversation on Wednesday afternoon that his new government "will not change the nature" of existing bilateral programs Montravius Adams Jersey , including the Piraeus Port project.


Analysts said the statement signaled a renewal of bilateral efforts to create a stronger hub for Eurasia trade routes. Li responded positively, expressing his hope that the two sides will follow through with their commitments, according to a news release on Thursday. He noted that the port project has not only created local jobs, but also has resulted in improved conditions for workers and better protection of their rights and interests.


Tsipras said the Greek government has made developing the relationship with China a high priority and welcomes "expanding investment from China".


The newly elected Greek government - dogged by domestic economic problems - was criticized in January for frustrating foreign investors over the port. It announced that it would halt the sale of a stake in Piraeus Port to China's shipping conglomerate COSCO Group and four other suitors, and it would review COSCO's stock purchase deal.


COSCO has a 35-year management lease for Piers II and III at Piraeus port that took effect in 2008 Josh Jones Jersey , and it began running container terminals in 2009.


Cooperation between China and Greece at the port has been widely seen as a strong model. Greece's Alternate Shipping Minister Theodoros Dritsas said in late January that the new government will respect all deals signed with COSCO, a statement welcomed by the Chinese Foreign Ministry. Ding Yifan, an economist at the State Council's Development Research Center, dismissed recent speculation that Greece is breaking up China's investment.


"China is the only country that would offer tangible, needed help when Greece looked around the globe Kevin King Jersey ," Ding said. Greece's debt stands at around 175 percent of its gross domestic product. Tsipras has been touring Europe to seek support for his plans to ease austerity and lower the country's debt burden.


"With Greece preoccupied by the debt, there's little space left for considering future development. ... Attracting more investment from China will give a needed boost to its economy," Ding said. Tsipras told Li that Greece is ready to expand its cooperation with China in areas such as maritime affairs and shipping, and embark on cooperative projects such as infrastructure construction and finance.


The strategic significance of the port was boosted in November after China and Central and Eastern European countries agreed to build a Eurasia land-sea express passage linking the Greek port with landlocked Hungary. Li said China is ready to work with Greece and develop Piraeus as a first-class port in the Mediterranean and an important hub for the region.


The port will serve as "an important bridge for realizing the China-Europe land-sea express passage and boosting Eurasia co

by Saud Abu Ramadan, O.