BEIJING — China's top securities regulator has greenlit trading of hog futures at Dalian Commodity Exchange in northeastern province of Liaoning.

The China Securities Regulatory Commission said on April 24 that trading of hog futures would help improve the pricing mechanism for hogs, better protect market participants against risks and foster the growth of the hog breeding industry.

The decision came when the prices of pork, a staple meat in China, have been soaring in recent months, mainly caused by African swine fever and cyclical factors.

China currently has more than 370,000 pig farming businesses in operation. Since March, China added 18,000 pig farming enterprises, surging 131 percent from the same period last year, Securities Journal reported.