China set to open up trading in commodity futures
Securities regulatory body issues draft guidelines that cover an increasing number of futures contracts open to foreign investors
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Shanghai
CHINA has published draft rules to allow foreign investors to trade in some of the country's commodities futures, potentially paving the way for an imminent opening of a booming market as Beijing looks to increase its sway on global commodity pricing.
China is the top global consumer of raw materials and has some of the most liquid commodities futures markets. Although trading firms around the world are eager to access the country's commodity exchanges, state restrictions on foreign participation and currency flows have prevented the contracts from gaining global prominence.
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