16 October 2018

Oil futures promoter moves into FTZ, paper says

A company tasked with promoting mainland crude oil futures to offshore players has been registered in Shanghai’s free trade zone with 5 billion yuan (US$820.832 million) in capital, the China Securities Journal reported Tuesday, citing sources from the Shanghai Administration for Industry and Commerce. Shanghai International Energy Trading Center Co., Ltd. is the biggest financial company to move into the zone, suggesting that the launch of crude oil futures is in the offing, the report said.

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