China oil future approved, March start targeted, says source

International banks see healthy interest from overseas clients

China oil

The long-awaited launch of the Shanghai International Energy Exchange’s (INE) crude oil future is expected to take place in March 2018 after the contract gained approval from the China Securities Regulatory Commission on Thursday, according to a source familiar with the matter.

INE was not immediately available to confirm this timetable, but an announcement of the approval is expected to be made by the CSRC on Friday, the source believes.

The contract will be the first Chinese futures contract

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