Under the guidance of China Securities Regulatory Commission, Shanghai Futures Exchange began to study and demonstrate oil futures trading from 200 1. Crude oil is the largest and most basic product in petroleum. Because the market conditions of crude oil futures listed at that time were not mature enough, the exchange designed the listing path of oil futures products at the top.

In 2004, fuel oil futures were listed and traded on Shanghai Futures Exchange. After nearly 10 years of active trading, due to the fundamental changes in the spot market, the role of its derivative fuel oil futures disappeared, and the trading gradually became light.

In 20 13, another oil futures product, petroleum asphalt futures, was listed on the Shanghai Futures Exchange. At present, the trading volume of petroleum asphalt futures ranks fifth among global energy futures contracts.

On March 26th, 20 18, crude oil futures will be officially listed and traded in Shanghai International Energy Trading Center of Shanghai Futures Exchange. The listing of crude oil futures is a milestone event, which has great significance and far-reaching influence on both the China futures market and the oil industry.

The expanded materials are different from other domestic commodity futures. Crude oil futures have been positioned as an international market from the beginning of design, and are open to global investors, including multinational oil companies, crude oil traders and financial institutions.

20 12 the fourth national financial work conference clearly put forward the requirement of steadily introducing commodity futures such as crude oil.

In the same year, China revised the Regulations on the Administration of Futures Trading, deleted the regulations restricting foreigners from participating in domestic futures trading, and allowed foreign investors to participate in domestic futures trading of specific varieties, which opened the world door to the listing of international crude oil futures.

The listing of People's Daily Online-China crude oil futures highlights four meanings.