BEIJING — A new office will be set up in one of China's major futures exchanges to enhance trials of administrative punishments for market irregularities, the country's top securities regulator said on Jan 18.

The establishment of a circuit trial office in the China Financial Futures Exchange is part of the regulator's efforts to improve the efficiency of futures market supervision.

China has seen the futures market increasingly enriched over the past 30-odd years. A total of 78 futures and options varieties are available on the market.

The total transaction of the futures markets across the country jumped 37.85 percent to 290.61 trillion yuan (about $42.37 trillion) in 2019, according to the China Futures Association.