Dalian to open iron ore futures to foreign firms by year-end

Iron ore futures to be one half of China commodity market internationalisation strategy

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In a sign of the rapid pace of China's economic internationalisation the Dalian Commodity Exchange (DCE) is looking to allow foreign investors to directly access its onshore iron ore futures market by the end of 2015, according to Wang Shumei, Beijing-based senior manager of the exchange's industrial products department.

The authorities in China have adopted a two-pronged approach to internationalising the country's commodity markets: the first relates to the imminent launch of RMB-denominated o