This means that China's first international futures product, crude oil futures, will be listed soon. It is understood that China is the second largest crude oil consumer and the eighth largest crude oil producer in the world. The apparent consumption of 20 16 crude oil is about 578 million tons, and its external dependence exceeds 65%. In 20 17, it imported about 420 million tons of crude oil, making it the largest crude oil importer in the world.
According to insiders, crude oil futures trading is an important attempt to "build a modern economic system and promote the formation of a new pattern of comprehensive opening up". As the first international futures product in China, crude oil futures will introduce overseas investors to explore the international market operation and supervision experience of the futures market.
Relevant persons in the previous issue said that the Exchange will further strengthen the duties of front-line supervision and self-regulation, constantly improve the means and measures of risk prevention and control, guard against market risks, ensure the smooth operation of the market, keep the bottom line and better serve the real economy.
After more than five years of preparation, the approval of the listing of crude oil futures is hard-won. As early as 20 12, the CSRC made it clear for the first time that it would promote the listing of crude oil futures; 20 14 12 12 the CSRC approved the crude oil futures trading conducted by its international energy trading center (INE) in the previous period. In May last year 1 1, with the approval of the CSRC, the Energy Center issued the crude oil futures standard contract of Shanghai International Energy Exchange Center.
After careful preparation, the listing of crude oil futures has been basically completed. It is understood that at present, 149 futures companies have applied for membership, and 12 banks have been allowed to engage in domestic customer deposit business, and 8 banks have engaged in overseas customer deposit business, and have conducted five market-wide production system drills.