20 14 12 12 China Securities Regulatory Commission officially approved the Shanghai Futures Exchange to conduct crude oil futures trading in its international energy trading center, and the listing of crude oil futures is progressing steadily.

At present, there are four important crude oil contracts in the world, namely, the New York Mercantile Exchange's light low-sulfur crude oil contract and high-sulfur crude oil futures contract, London International Petroleum Exchange's Brent crude oil futures and Singapore Exchange's Dubai acid crude oil futures. The introduction of China crude oil futures will win China a place in the global crude oil price.