CHINA-ECONOMY: CHINA MOVES AHEAD WITH PLANS TO LAUNCH YUAN-DENOMINATED CRUDE OIL OPTIONS CONTRACTS
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Caixin (June 22) reported that China has moved ahead with its plans to open the country’s financial markets and increase its pricing power over globally traded commodities with the launch of yuan-denominated crude oil options contracts, the first in the energy sector available to foreign investors. The contracts started trading on June 21 on the Shanghai International Energy Exchange, part of the Shanghai Futures Exchange, following the launch on June 18 of yuan-denominated palm oil options on the Dalian Commodity Exchange, which are also open to overseas investors.
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