There is no guarantee that the reserves of energy security experts recommended the city set up offshore crude futures News _ _ _ Sina Sina Financial

⊙ – - Xiaohan

The fifth "Shanghai Derivatives Market Forum" yesterday to continue. In the energy branch of the International Conference and the State Council Development Research Center of the Ministry of Industry researcher Yang Jianlong proposed, for the protection of China's energy security, oil price changes in the field of passive status, China must build its own oil futures market. Yang Jianlong proposals, China will try to open up to offshore dollar-denominated crude oil futures market to avoid the existing financial regulatory system and direct confrontation or conflict.

There is no guarantee that the reserves of energy security model

There is no doubt that the pressure of China's energy security is very large. This year, international crude oil prices hit record highs, on the healthy development of China's economic and formed a huge impact. At present, people are actively design and research of all kinds of support energy security system, ways and means.

"We have a large oil depot construction projects, large oil reserves plan, we also have open up all aspects of the oil sources in the programme, but in the entire system construction, the futures market, or by the futures market and the international oil market, is a full contact Very important aspects. "Yang Jianlong, usually understood to guarantee energy security a" high wall, plot-grain, the reserves ", but the assumption that the oil crisis is coming, our reserves to maintain long? Two months ? Three months ? Or 2001 ?

"This can not solve the problem completely, the real energy security is an open concept of security, a country with the global market supply and demand should be closer interaction between the start and maintain efficient links, rather than static reserves. Left in the market The economy play a leading role in the futures market, such links can be efficiently built up? ?"

Can not be passive participation in the international futures market

China's economic development is inseparable from crude oil. However, crude oil supply and demand fundamentals of the Chinese decision on the international crude oil market is increasingly dependent on high. "We can not be divorced from international crude oil futures market, or a passive participant, either inside to look for opportunities." Yang Jianlong believe that the international crude oil futures market is a mature market, but also the distribution of benefits of a pattern of its internal rules Has long been a high degree of curing the rules. China's trade volume不比few other countries, but has had to face a high degree of curing the interest pattern. "Must admit that we are passive, although we do not want passive, but we have to passively accept the reality."

Global crude oil futures market in the development of the two, after 30 years has increasingly mature, Yang Jianlong It seems that if China establish its own oil futures market, perhaps not all of a sudden have the pricing power on a global scale, but at least create The conditions. "Now the international crude oil futures go with the United States, with the seasonal cycle of the international market go, the crude oil storage, enterprise lies in the hands of foreign funds. China's crude oil futures market set up after, of course, to respect international option, but can also Reflects its own strategic interests and our transport, production and consumption of information to understand, we can than in the U.S. market, the European market investors a little more. Even a little bit of information, and ultimately can be gradually reflected in the advantages of Chinese enterprises. " Yang Jianlong that China's crude oil futures market pricing for the establishment of at least created the conditions.

To be built offshore markets

Many industry believes that China's current energy pricing mechanism of China's energy enterprises and the development of the entire Chinese economy sustained and healthy development of the great harm in such a background, the energy system must be broken. "The construction of the oil futures market is not independent events, China's economy is in the context of sustainable development in China's energy system reform and the environment under the mechanism of the entire energy market system building under construction in the environment. In this context , The goal is strategic oil financial system, multi-level market, including oil futures markets, oil futures markets is an important component of, only the oil futures market on the pattern will be in the position and its significance Grasp the objective and correct understanding. "

Yang Jianlong that China's building of crude oil futures market should be the goal of striving to become the Asia-Pacific region's oil pricing centre, with the ultimate goal is to become an international influence in the oil futures market. "We can invite the world's major oil traders, speculators and consumers enter the Chinese futures market transactions, but such a market by building the biggest problem is difficult to control across the financial, foreign investors can not at this stage with dollar To leave so we can give priority to the establishment of offshore futures markets, forming a relatively closed, and the renminbi has a firewall between the crude futures market. "

The so-called offshore financial markets, and the market is the country's domestic financial system of separation, both from the use of currency issued by the Government Control Act, not the market control of the host Government Act of financial markets.

"We have this offshore crude oil futures market to dollar-denominated, the international participants to avoid the financial control on the formation of them. For our part, is due to offshore transactions, the local delivery, we can produce a lot of trade with its associated Integration of factors into account, for instance, the choice of oil, for example, the delivery of choice, to a certain extent China's own considerations. "Yang Jianlong said that if the market can play a normal role, I believe there will be more And more investors to participate in, the growing size of a good interaction.

chinainvestor:本版contents of the article was supplied by MarketWatch, does not constitute investment advice. Investors this operation, own risk.

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