According to DCE, the trading marks another step in the country’s financial opening-up push.
According to DCE, China is a major importer and consumer of palm oil in the world, with its import and consumption volumes accounting for 15 per cent and 10 per cent of the world’s total, respectively.
DCE said with launching palm oil options and including overseas investors, the country could provide risk management tools for market entities and contribute to the coordination of international supply and industrial chains.
It said this would ensure the quality development of its futures market.
The total turnover of China’s futures market rose to 50.56 per cent in 2020 from the previous year to 437.53 trillion yuan (about 67.9 trillion U.S. dollars), reaching a historic high. (Xinhua/NAN)