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China’s First Crude Oil Futures Contract to Debut on March 26

China will launch its first yuan-denominated crude oil futures contract next month, a long-waited move aimed at boosting the pricing power of the world’s biggest oil buyer.

The contract will make its debut on March 26 at the Shanghai International Energy Exchange (INE), a subsidiary of the Shanghai Futures Exchange, Chang Depeng, a spokesman with the China Securities Regulatory Commission (CSRC), told a press conference on Friday.

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