China Turns Printing Paper Into a Wall Street-Style Bet.

Shanghai has officially launched trading in financial derivatives tied to printing paper, turning a staple of everyday business into a market commodity. The move, rolled out on the Shanghai Futures Exchange, allows speculators and industry players to hedge or gamble on price swings in printing paper — a sector long battered by fluctuating raw material costs, environmental rules, and global supply chain shocks.

Supporters say the new contracts give paper mills, publishers, and office suppliers much-needed tools to manage risk. Critics, however, see it as another sign of China’s push to financialize even the most ordinary goods, opening the door for speculators to profit off something as basic as the paper used for books and offices. Analysts warn that while the new market could stabilize costs for businesses, it also risks fueling volatility if speculative trading outweighs industrial demand.