Monthly Archives: March 2018

China Crude Oil Futures Improves Global Pricing System

In recent years, China’s economic development has increased the demand for commodities, and the real economy needs the price discovery of futures markets. This has enabled the industry to call for years of crude oil futures to finally land.

On March 26th, China’s first international futures, crude oil futures, was listed on the Shanghai International Energy Trading Center. Chairman of the China Securities Regulatory Commission Liu Shiyu attended the listing ceremony and said that the China Securities Regulatory Commission has the confidence, determination and ability to build a crude oil futures market with Chinese characteristics and function well. This will better protect the legitimate rights and interests of investors and better serve the entity. Contribution to high quality economic development.

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Since the Securities and Futures Commission approved the official listing transaction at the end of 2014, the road to the listing of crude oil futures has taken more than three years in China. The Chinese economy has continued to develop rapidly in recent years and has long been a major commodity demand and import country in the world. However, we have very weak voice power over the pricing of commodities. Taking crude oil as an example, although China is the world’s largest crude oil importer, the second largest crude oil consumer, and the eighth largest crude oil producer, the purchase of crude oil can still only be based on the pricing of European and American crude oil futures exchanges. Such a huge interest And the market cannot but be regretted.

As an international platform, the crude oil futures trading, settlement, and delivery transactions that have been listed a few days ago are all internationalized designs. Domestic and foreign traders can participate more freely. This is to form a benchmark price that reflects the relationship between supply and demand in the crude oil market in China and Asia-Pacific time zones, and enhance China’s trade.