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China May Introduce Marine Shipping Futures Sooner: Herald

CHINA PRESS
MNI (Singapore)

China may introduce bulk marine shipping futures sooner than expected, as the country seeks to accelerate opening more futures products to foreign traders, and cater to the growing hedging needs amid increasing shipping prices, the 21st Century Business Herald reported after a State Council circular that called for more futures trading through the Free Trade Zones. More FTZs may learn from the Shanghai FTZ in creating an international commodity futures market denominated and settled in yuan, so to increase the pricing power of iron ore, soybeans, and PTA globally, the newspaper cited an industry insider. By opening up to overseas traders, the speculation in the domestic market could be eased, the newspaper said.

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