Crude oil futures will start trading as early as March at the Shanghai free trade zone as part of China’s efforts to further open up its capital market, Shanghai Daily reported Wednesday, citing the zone’s administrative committee. The Shanghai International Energy Trade Center, which was launched in November, will be the platform for the trading of the long-awaited commodity futures. With a registered capital of 5 billion yuan (US$820 million), the center is the largest financial company set up in the zone so far. The Shanghai Stock Exchange is also planning to establish a trading platform in the zone for international investors, Dai Haibo, deputy director of the zone’s administrative committee, was quoted as saying.
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