Can RMB and USD be freely convertible in China crude oil futures market?
China crude oil futures trading, which started on March 26th this year, is denominated in RMB, so it cannot be freely exchanged with US dollars. At the same time, after the exchange rate conversion, there will be some inequality between US dollar crude oil futures and RMB crude oil futures. After all, it is not the same trading market, and there are different long and short positions, which leads to price differences.