久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Finance

China gears up for launch of crude oil futures

Xinhua | Updated: 2018-03-12 22:21
Share
Share - WeChat
Technicians at Petro China's Xinjiang Oilfield Company make routine checks of equipment in early February in Karamay, Xinjiang Uygur autonomous region. [Photo by Zhao Ge/Xinhua]

BEIJING - Chinese institutions are preparing for the launch of much-anticipated yuan-denominated crude oil futures, a move seen to give the country greater pricing power over commodities.

Trading of the crude oil futures contracts will start at 9 am on March 26 at the Shanghai International Energy Exchange,or INE, according to a statement of the organization Monday.

The trading margins for the futures have been set at 7 percent of the contract value, the statement said.

The upward and downward trading limits will be 5 percent, with the trading limits on the first trading day set at 10 percent of the benchmark prices.

The Shanghai International Energy Exchange will release the benchmark prices one trading day before the launch of the futures.

"All institutions concerned should get ready for the launch of the crude oil futures, strengthen risk prevention, and ensure stable operation of the market," said Shanghai International Energy Exchange in the statement.

Futures companies are offering training to clients and helping companies better understand how the financial product can mitigate risks, Gu Jingtao, an analyst with Chinese investment bank BOCI, told the Economic Observer.

"The launch of the oil futures will greatly improve the risk management capability of small and medium-sized firms," Gu said.

Futures brokerages have been competing for clients while testing technical systems to ensure smooth trading, according to Jia Shuchang of Industrial Futures, the Economic Observer reported.

China Securities Regulatory Commission announced the launch of the crude oil futures in February.

Preparations are almost complete, and there have been several system tests ahead of the launch.

Analysts say Shanghai crude will be able to compete for the crude price benchmark in the Asia-Pacific region, hopefully becoming part of the 24-hour global trading system, together with Brent and WTI futures.

The Asia-Pacific region has surpassed America and Europe in crude consumption, but a benchmark with high recognition is still missing.

China is the world's second largest oil consumer after the United States. Demand is likely to soar in the future as the country is thirsty for energy to fuel its economic growth.

Gu said he expects sufficient demand for the crude futures contracts from both industrial and financial clients as they needed a tool to manage risk, and hedge against inflation.

Individual investors can also benefit from the launch as their interests are better protected in exchanges rather than through over-the-counter trading, according to Gu.

The yuan-based futures are also expected to help China's effort to promote the yuan as a global currency.

However, Gu said that there were still uncertainties over liquidity as well as concerns over contract settlements.

While foreign investors are allowed in the petro-yuan trade, Gu said there have been relatively few accounts opened by overseas clients, indicating concerns over market liquidity and regulatory uncertainties.

"It would be difficult to challenge the dollar's dominance in oil pricing in the short term," Gu said. "In the long term, however, multi-currency pricing will become a trend in the future."

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 很黄很色的摸下面的视频 | 国产成人综合亚洲欧美在 | 亚欧美视频 | 亚洲精品日本高清中文字幕 | 亚洲日本视频在线观看 | 久久久久久久性潮 | 亚洲欧美日本国产综合在线 | 国产精品免费久久久免费 | 日韩乱码中文字幕视频 | 亚洲精品午夜国产va久久成人 | 亚洲精品成人久久久影院 | 台湾三级香港三级经典三在线 | 蘑菇午夜三级 | 国产a级三级三级三级中国 国产a级特黄的片子视频 | 成人性生免费视频 | 亚洲三级在线看 | 东京一区二区三区高清视频 | 美国成人免费视频 | 国产亚洲一区二区精品 | 91中文字幕网 | 美女张开腿让男生桶出水 | 国产a∨一区二区三区香蕉小说 | 一级精品视频 | 中文字幕日韩国产 | 欧美性猛交xxxx免费看手交 | 美女在线网站免费的 | 一级生性活免费视频 | 一级毛片在线视频 | 免费看欧美成人性色生活片 | 免费狼人久久香蕉网 | 草草影院ccyycom | 一区二区三区日本视频 | 欧美日韩亚洲综合在线一区二区 | 国产成人艳妇在线观看 | 国产精品亚洲欧美一级久久精品 | 日韩久久免费视频 | 综合精品| 日韩美香港a一级毛片 | 91精品啪在线观看国产91九色 | 美女被免费网站在线视频软件 | 国产成人久久一区二区三区 |