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China to launch crude oil futures this year: Xinhua

from Reuters:

China is expected to begin trading in crude oil futures within the year, a senior government official said on Wednesday, as the world’s second-largest oil consumer and crude buyer aims to increase its say in oil pricing.

“Within this year, China will launch an international crude oil futures market, the third such market in the world after the United States and the United Kingdom,” state news agency Xinhua quoted Guo Shuqing, chairman of the China Securities Regulatory Commission, as saying.

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