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

  .contact us |.about us
Home BizChina Newsphoto Cartoon LanguageTips Metrolife DragonKids SMS Edu
news... ...
             Focus on... ...
   

Government urged to ease price controls and promote competition
( 2002-02-22 09:19 ) (1 )

China's oil futures market could be re-launched this year, experts said, despite the opinion of some that the move must await the full liberalization of the oil sector, which is scheduled to happen in 2005.

"The establishment of an oil futures market is possible as early as the second half of this year, if the government loosens controls on the prices of some oil products and lets more companies have access to the market," said Yang Jingming, former president of the closed Shanghai Oil Futures Exchange.

"The resumption of an oil futures market as a market-orientated pricing mechanism is in line with the government's opening of the oil sector to break up the monopoly," Yang told China Daily.

Yang's remarks challenge doubts of some analysts who believe such a futures market is unlikely to take shape before the oil market is fully opened in 2005, in accord with the nation's commitment to the World Trade Organization (WTO).

They maintain that trading on the futures market is impossible as long as the production and marketing of oil products are dominated by the biggest two companies, PetroChina and Sinopec.

Tang Kejun, a spokesman for the Shanghai Futures Exchange, agreed with Yang, saying a fully competitive oil market is not always necessary for oil futures.

"We should not sit and wait for a perfect market mechanism before we start an oil futures market. The oil futures market itself could promote the reform in the sector, creating a competitive market," said Tang.

China closed the two-year-old oil futures exchange in 1995, when the government tightened controls on production, marketing and pricing of oil products.

Zuo Taihang, deputy-director of the Development Research Centre under the State Economic and Trade Commission, said the resumption of an oil futures market, which would allow traders to buy and sell contracts that offer a fixed price on a given date in the future, would help oil users fix the price to fend off the risk of price fluctuations.

"As a big consumer, China needs its own oil futures market to reflect domestic market conditions and to enhance China's influence on international oil prices," Zuo said.

Earlier in January, officials from the China Securities Regulatory Commission said fuel oil futures could be the first to be resumed because the fuel oil market is much more liberalized and less important than crude oil and refined oil markets.

Yang said if the government launches fuel oil futures, the big two, PetroChina and Sinopec, must allow some of their subsidiaries to market fuel oil products, instead of allocating and selling everything themselves, to get more players involved in futures trading.

The government should also stay out of pricing to create a more competitive market, Yang added.

"The major problems hindering the debut of fuel oil futures are that the big two control half of all sales, and that the government still controls pricing and imports to a certain degree.

"The futures market is senseless when price and sales have been already decided," said Yang.

At present, Sinopec and PetroChina supply half of the domestic demand for fuel oil, about 15 million tons, the other half being imported. The imports must be approved by the government.

Meanwhile, although the government has already given up pricing controls on most of the fuel oil, it still caps the price for fuel oil used for fertilizer production, which accounts for one-third of the total consumption.

Tang said if the government decides to push through with the oil futures, it will inevitably have to reform its current mechanism for pricing, marketing and management.

 
   
 
   

 

         
         
       
        .contact us |.about us
  Copyright By chinadaily.com.cn. All rights reserved  
主站蜘蛛池模板: 韩国理伦一级毛片 | 在线观看亚洲人成网站 | 日本全黄 | 国产成人99精品免费观看 | 久久99国产亚洲精品观看 | 国产美女动态免费视频 | 91精品国产高清久久久久久91 | 亚洲精品三区 | 国产成人午夜精品影院游乐网 | 97se亚洲综合在线韩国专区福利 | 国产视频二 | www.黄色com | 日韩 国产 欧美 | 日韩精品视频美在线精品视频 | 八戒午夜精品视频在线观看 | 亚洲wwww| 欧美日韩一区二区在线观看视频 | 国产妇乱子伦视频免费 | 亚洲成aⅴ人片在线观 | 亚洲国产精品网站久久 | 久久久这里只有精品加勒比 | 国产毛片久久精品 | 久久久久毛片成人精品 | 国产欧美日韩在线不卡第一页 | 欧美熟videos肥婆 | 精品精品国产自在久久高清 | 日本特级黄毛片毛片视频 | 国内精品一区二区2021在线 | 国产成人a福利在线观看 | 国产麻豆福利a v在线播放 | 国产成人精品男人免费 | 另类专区亚洲 | 国内91视频 | 国产美女主播一级成人毛片 | 亚洲精品天堂自在久久77 | 久久精品免费一区二区视 | 亚洲乱码一区二区三区国产精品 | 国内自拍第五一页 | 国产在线观看午夜不卡 | 呦视频在线一区二区三区 | 久久久久久免费播放一级毛片 |