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Officials, experts on fluctuation, supervision in commodities market


12-05-2016 16:43 BJT

Chinese authorities said this weekend that China will expand commodities listings --like crude oil futures and white sugar and soybean meal options.

The move comes in a push for more internationalisation and to attract more overseas investors. Officials and experts at a commodities conference in Shenzhen addressed recent fluctuations in the commodities market and the issue of tightening supervision.

"Some people worry about negative effects of the ups and downs. But I think that's a good thing because price corrections are good for efficient resource allocations," said Fang Xinghai, Vice Chairman, China Securities Regulatory Commission.

"I don't think we should worry about speculation lifting prices in the physical market. Speculators won't allow that, otherwise they will lose big money when delivery day comes."

"We have enhanced supervision over ourself as an exchange house. The main task is to prevent price distortions due to manipulations," said Wang Fenghai, General Manager, Dalian Commodity Exchange.

"As a market facilitator, it is important for us to keep the pricing mechanism transparent and efficient, and representative of the rational expectations over supply and demand in the physical market," said Xiong Jun, General Manager, Zhengzhou Commodity Exchange.

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