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Shanghai to float oil futures contract in RMB

时间:2014-04-16 09:15

The Shanghai Futures Exchange is ready to roll out the country&

Yang Maijun, the bourse&

Similar contracts for non-ferrous metals, precious metals and natural rubber will follow suit.

The bourse has finished all "technical preparations", Yang said, and is awaiting regulatory approval from the government on the groundbreaking contract.

"China is the world&

He didn&

The China Securities Regulatory Commission said on Feb 28 that a policy framework for the new oil futures has been pinned down, and it will guide the Shanghai Future Exchange in its preparations.

China overtook the United States last September to become the world&

The US Energy Information Administration said in a report published Feb 4 that China&

China accounted for one-third of the world&

The EIA forecast China&

It said the nation&

Despite its growing presence in international oil trade, China&

Global oil trade currently is priced off future prices quoted by the Chicago Mercantile Exchange and the Intercontinental Exchange in London.

It&

 

Referred from: China Daily

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