China will launch China’s futures trading on the Shanghai Stock Exchange on March 26, the Asia Securities Market Supervision (CSRC) announced.
The stock market reported that he was prepared for the job and had carried out several successful tests.
China had tried to introduce futures on the domestic market in 1993, but the attempt failed, trading was stopped one year later due to the extremely large price shocks.
MarketWatch, operated by the Dow Jones publisher, said foreign investors might be directly involved in trading at the end of March, without opening a separate trading point in China.
It may even be known that one offer per 1000 barrels, the lowest price per barrel being 0.1 yuan. The price for day-to-day is still a tight 4% band if it breaks out of this and suspends trading.
Analysts say that the major stock exchanges will certainly not be threatened by the Shanghai stock market, which may eventually become trend-forming in Asia and, if successfully integrated into the global trading system, can significantly enhance the role of yuan in world trade.
According to Société Générale, the majority of oil markets are traded in dollars. Every day, about 82.2 million barrels (1 barrel = 159 liters) of petroleum are traded in the world, and only 300-350 thousand barrels are sold and bought in dollars.
China last year swept the United States and became the largest importer of crude oil in the world. China’s oil import last year was about 8.43 million barrels a day.
Source: MTI / Picture: napi.hu /