A ceremony was held at the Shanghai International Energy Trading Center in Shanghai, China in celebration of the launch of renminbi crude oil futures trading on 26th.
Among them, Mr. Liu Mori of the Securities Regulatory Commission supervising the financial market in China greeted, supposing that the listing of crude oil futures had been prepared for a long time, "We are a Chinese specialty crude oil futures market I am confident that it will make it work well, "he emphasized its significance.

Crude oil prices are indicative of international crude oil transactions by WTI of New York's crude oil market and North Sea Brent of London crude oil market.

On the other hand, China is aiming to strengthen the international influence on crude oil price against the background, as it has surpassed the United States and became the world's largest importer of crude oil and increased its presence Yes.
Regarding crude oil futures trading in Shanghai exchanges, in principle, it is said that it will be done in formerly in order to lead to the internationalization of China's currency = Renminbi.
Therefore, through crude oil futures trading in Shanghai in the future, attention will be paid to whether China will strengthen its influence on crude oil prices as intended and lead to the internationalization of the renminbi.