Since last year, China has surpassed the US as the world’s largest crude importer, giving it an impetus to develop its own futures market. Photo: Reuters

Yuan-denominated oil futures mark a significant move

The launch of the Shanghai Futures Exchange’s first commodity derivative that is open to foreign investors suits the needs and demands of the region, especially for those countries that are taking part in President Xi Jinping’s “Belt and Road Initiative”

Topic |   Commodities

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Since last year, China has surpassed the US as the world’s largest crude importer, giving it an impetus to develop its own futures market. Photo: Reuters
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