China eases way for foreigners to trade its commodity futures

Shanghai

FOREIGN investors will be allowed to transfer either foreign currency or yuan funds into China to trade in the country's commodity futures markets, the foreign exchange regulator said on Friday.

The imminent opening of its booming commodity futures market is a major reform supporting Beijing's efforts to increase its sway on global commodity pricing. The securities and futures watchdog announced in June that Beijing would allow foreign investors to trade in some commodities futures for the first time, and the forex regulator's announcement on Friday made related foreign exchange regulations ready for foreigners to trade futures.