In order to provide a marketplace for the wide variety of investors 

who need to manage price risk, and to help to support business 

sustainability, China needs to form its own crude futures market. 

Though there are sophisticated and highly liquid oil futures 

markets in Europe and North America already, their prices from do 

not reect the supply and demand of crude oil in the Asia-Pacic 

region. A Chinese crude oil futures contract may help create an 

oil benchmark price capturing the dynamic of China and the AsiaPacic oil market. Thus it will optimize oil resource allocation in 

this regional market and better serve commerce and the economy. 

Establishment of the crude oil futures market is one of the key 

steps taken by China to open upand internationalize its futures 

market.

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