Having lost its mantle as largest economy in the world to China... and world's biggest oil importer (again to China), 'exceptional' USA appears to have just lost its Number 1 status in financial market depth to China also...

China's Financial Futures Exchange CSI-300 futures contract has now traded more on average than the massively liquid S&P 500 e-mini contract for the last month...

Of course, with millions of new retail trading accounts every week in China, we suspect this 'false dawn' of activity will not be quite as exuberant as we have seen for 6 months.

Charts: Bloomberg