This　article　investigates　price　transmission　mechanism　and　volatility　impact　between　Chinese　cornstarch　futures　market　and　relevant　markets　through　Johansen　cointegration　test,　VEC　model　and　GARCH　model.　The　empirical　results　indicated　that　the　Chinese　cornstarch　futures　price　could　guide　cornstarch　spot　price　uni-directionally　and　there　are　long-term　cointegration　relationships　between　them.　There　is　a　co-integration　and　bi-directional　lead　relationship　between　cornstarch　futures　price　and　corn　futures　price.　The　launch　of　cornstarch　futures　market　can　slightly　reduce　volatility　of　domestic　corn　futures　market.　However,　the　launch　of　cornstarch　futures　market　has　no　significant　impact　on　the　spot　market.　©　2017　The　Author(s).　This　open　access　article　is　distributed　under　a　Creative　Commons　Attribution　(CC-BY)　4.0　license.