日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

USEUROPEAFRICAASIA 中文雙語Fran?ais
Business
Home / Business / Industries

Oil futures on the horizon

By Meng Fanbin | China Daily | Updated: 2017-09-11 08:08

Oil futures on the horizon

Employees work at Qingdao Dongjiakou Port, which is one of China's largest ports for crude oil transit and storage. [Zhang Jingang/for China Daily]

New segment will likely stabilize prices and improve efficiency

China, the world's largest crude importer, is moving swiftly toward the introduction of oil futures.

The Shanghai International Energy Trading Center, a subsidiary of the Shanghai Futures Exchange, has completed the fourth trial of the digital platform of the oil futures market in July.

Most of the market players concerned tried it out. Launch would follow the regulatory approval, which is awaited, according to industry insiders.

The China Securities Regulatory Commission has forwarded the SIETC's application to the State Council, the country's Cabinet, for the final green signal.

This means, it is just a matter of time before trading in oil futures takes off in China, said Li Yaqian, general manager of international business at SDIC Essence Futures.

Zhan Sheng, investment director of JZ Investment, said, "The government has to choose a suitable time for the listing, because crude oil futures show clearly a country's demand for oil and could have a bearing on the country's macroeconomic factors."

Agreed Li. "Crude futures will bring about many things-an important tool of price discovery, hedging, risk aversion and arbitrage-for commodity producers, operators and domestic market speculators."

Since 2014, the SFE has been urging the State Administration of Foreign Exchange to allow foreign investors into China's oil futures market whenever it is launched.

"Crude oil is expected to be the first futures segment in China to see foreign traders," said Li.

In fact, some overseas investors have already opened trading accounts during the trials, he said.

He also stressed that crude oil futures will help systematize oil pricing. Futures will have a significant bearing on oil prices, experts said.

That's because uncertainty and wild price fluctuations, which bedevil the spot market currently, would be reined in by the futures market.

Since the futures market would set the tone for the price trend, they would "not only give China more control over oil prices in the global market, but also reduce operational costs of refineries and petrochemical companies", said Zhan.

When fuel and chemical producers are assured of a future price trend, they would be able to plan and manage costs more efficiently. This could result in substantial savings, which would help lower commodity prices at the consumer level, experts said.

In the global commodity futures markets, crude oil trading is the largest segment. In China, new players specializing in oil futures are expected to enter the market.

"Their entry will greatly improve market activity and create more opportunities to make profits," said Li.

As early as 2014, market players started to anticipate and prepare for oil futures in China. Such efforts accelerated this year, said insiders.

Global commodity funds have been visiting China to understand the latest developments, trading rules, expected changes in the country's oil supply and demand, and how funds could enter and exit the futures market, according a report in 21st Century Business Herald.

Some of them began to design corresponding hedging and spread arbitrage investment strategies, the Herald reported.

Li is optimistic about China's crude oil futures.

China is a major oil producer whose large number of production units have a direct say in the physical delivery of the commodity.

This could alter the contours of the global futures market, given the size of China's oil economy.

Last year, the Daqing Oilfield in Heilongjiang province produced 730,000 barrels per day. The Shengli Oilfield in Hebei province produced 480,000 bpd.

Given the significance of oil among natural resources, crude futures are always under the spotlight in the global commodity markets; and the expected launch of crude futures in China would keep the tradition alive.

The crude oil futures market is expected to be vibrant due to large trading volumes in the physical market. There is also strong demand for hedging opportunities among refiners, said Zhan. Those into hedging would be able to control their procurement costs better, he said.

Besides oil, futures markets in other commodities are developing in China. On Aug 18, the Zhengzhou Community Exchange in Henan province launched cotton yarn futures.

Speaking on the occasion, Fang Xinghai, vice-chairman of the CSRC, said that to meet the demand of the real economy, China will enhance research into, and listing of, futures and introduce varieties of futures trading in the future.

Most Viewed in 24 Hours
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
 
主站蜘蛛池模板: 久久草视频这里只精品99 | 一级毛片男女做受 | 国产老女人精品毛片久久 | 欧美精品一区二区三区久久 | 偷拍自拍网站 | 日本大人吃奶视频xxxx | 国产专区在线播放 | 久久久久国产成人精品亚洲午夜 | sese在线视频 | 免费精品美女久久久久久久久久 | www.日韩| 99久久久精品 | 国产毛片久久久久久国产毛片 | 青草草在线视频 | 九九热久久免费视频 | 免费在线观看成人 | aaqqw| 婷婷久久五月天 | 国产成人一区二区三区久久久 | 国产合集福利视频在线视频 | 97精品久久| 91大片| 亚洲午夜久久久久久尤物 | 亚洲欧美二区三区久本道 | 精品欧美一区二区vr在线观看 | 精品亚洲一区二区三区 | 99久久婷婷| 黄页成人免费网站 | 国产在线小视频 | 日韩深夜福利视频 | 毛片av网| 亚欧洲精品bb | 国产精品免费大片一区二区 | 久久99国产综合精品免费 | 正在播放国产无套露脸 | 亚洲午夜在线视频 | 久久精品av麻豆的观看方式 | 国产福利一区二区 | 欧美123| 精品免费国产一区二区三区 | 91精品国产综合久久欧美 |