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Response to Tansy_Gold (Original post)

Fri Nov 22, 2013, 08:41 AM

14. China Plans To Launch Its Own Crude Oil Futures Market

http://www.businessinsider.com/china-plans-to-launch-its-own-crude-oil-futures-market-2013-11

China, the world's largest energy consumer, on Friday took a step towards launching a market of its own for crude oil futures -- which foreign investors may be allowed to trade.

Authorities and an existing exchange in Shanghai set up a company to operate a trading platform for the planned future contracts in the city's new free-trade zone (FTZ), state media and officials said.

The location -- separate from the financial hub's stock exchange and futures exchanges -- is a sign that foreigners may be allowed to take part in the market, which could eventually challenge Singapore's dominance in Asian energy trading.

China has pledged freer capital flows and the introduction of more financial products in the FTZ, which was established in late September.



Read more: http://www.businessinsider.com/china-plans-to-launch-its-own-crude-oil-futures-market-2013-11#ixzz2lNj3nOyF

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