Beijing urged to put OTC efforts on hold

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China should not allow problems associated with the global financial crisis to stifle efforts to develop more futures contracts based on stock indexes and commodities. And it should give priority to the expansion of exchange-traded derivatives markets and suspend over-the-counter (OTC) development, according to two of the country's top exchange officials.

The views were expressed separately by Zhu Yuchen, president of Shanghai-based China Financial Futures Exchange, and Liu Xingqiang, president

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