As the first international futures product in China, the listing of crude oil futures can not only serve the high-quality development of China's real economy, but also further promote the opening up of China's financial market, which is of great significance. As the first commodity among commodities, the listing of crude oil futures will bring great changes to the total size of the futures market.
Liu, chairman of China Securities Regulatory Commission, said at the listing ceremony that the official listing of China crude oil futures today marked a new step in the construction of Shanghai International Financial Center.
In terms of international influence, the listing of China crude oil futures will fill the gap in the existing international crude oil pricing system and establish a crude oil pricing benchmark that reflects the relationship between supply and demand in China and the Asia-Pacific market, which is good for China, the Asia-Pacific region and even the world.
With the maturity and attractiveness of the crude oil futures market denominated and settled in RMB, it will promote the international use of RMB and promote the internationalization of RMB. In addition, it is of epoch-making significance for China to seek global crude oil pricing power.
From the domestic impact, enterprises can use the local crude oil futures market to hedge and manage risks, and at the same time, they can keep valuable investor resources at home, and also optimize the allocation of oil resources in the market to better reflect the relationship between domestic supply and demand, thus realizing the function of serving the real economy.
At the same time, the experience accumulated by crude oil futures in open path, tax management, foreign exchange management, bonded delivery, cross-border supervision and cooperation can be gradually extended to other mature commodity futures such as iron ore and non-ferrous metals, thus promoting the full opening of China's commodity futures market and even financial market.
In addition, the choice of crude oil futures will take the lead in Shanghai, which will promote the construction of Shanghai as an international financial center.
From the people's point of view, after the listing of China crude oil futures, the risks of enterprises have been stabilized and the prices of related products have been stable. As consumers, they will indirectly enjoy "preferential treatment", which will also enrich the types of futures in China, give investors more choices and make residents' wealth management tools more adequate.