According to the Article 2 of the Announcement [2015] No. 19 of 

the People’s Bank of China (PBC), Crude oil futures traded within 

China shall be denominated and settled in Chinese Renminbi 

(RMB). Also Article 9 of the Announcement states that Any 

Overseas Trader or Overseas Broker may directly use its foreign 

exchange as margin. Or the foreign currency fund balance on such 

person's margin account must be exchanged into RMB before it 

can be used to settle trades involving domestic crude oil futures.

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