ASIAdocument.write(“” + m[today.getMonth()+1]+ ” “+ today.getDate()+”, ” + theYear + ” “);HOMECHINAWORLDBUSINESSLIFESTYLECULTURETRAVELSPORTSOPINIONREGIONALFORUMNEWSPAPERChina Daily PDFChina Daily E-paperChina Daily Global PDFChina Daily Global E-paperBusiness /Policy WatchEconomyPolicy WatchChina DataCompaniesMarketsIndustriesViewMotoringTechGreen ChinaMore progress lies ahead for FTZBy Wei Tian(China Daily)Updated:2014-09-27 09:42Comments Print Mail Large Medium SmallOfficials say crude oil futures trading may be the next innovation in zoneOfficials of the China (Shanghai) Pilot Free Trade Zone on Friday promised there would be more progress, including the launch of crude oil futures later this year, ahead of the first anniversary of the experimental area.The Shanghai International Energy Trading Center, a new arm of the Shanghai Futures Exchange, may launch crude oil futures this winter, said Zheng Yang, head of the Shanghai Financial Service Office, at a briefing on Friday.
China begins receiving oil from RussiaPublic freely discusses FTZ with Li The trading center was established last November, and it was the largest company registered in the FTZ with registered capital of 5 billion yuan ($815 million). It aims to serve as a platform for international futures trading of oil and other resources.According to Zheng, the energy trading center is preparing for the launch of crude oil futures.The Shanghai Stock Exchange also plans to set up a trading platform for international financial assets, said the official.The FTZ was officially launched on Sept 29, 2013. Its major achievement in the past year has been the streamlining of administrative procedures.The “negative list” approach, which aims to make it easier for foreign companies to enter the Chinese market, has reduced the number of banned items from 196 to 139.As of Sept 15 this year, there were 12,266 new companies set up in the FTZ, of which foreign companies accounted for 13.7 percent, and 283 foreign-funded projects were launched in the FTZ.”The momentum of foreign enterprises is improving, which means the free trade zone has passed the initial evaluation,” said Ai Baojun, director of the FTZ, who is also deputy mayor of Shanghai. Ai said logistics costs in the zone have declined by 10 percent.In late October, the FTZ management committee will release another list that will refine its power and procedures, increase transparency and broaden market access for investors in the FTZ.When asked about Dai Haibo, the former executive deputy director of the FTZ who was removed in early September, Ai said Dais removal was a normal change of personnel, and Dai was still carrying out his duties in the government, such as drafting the 13th Five-Year Plan (2016-2020).Ai did not reveal the successor to Dai. 8.03KPhotoHighlights from the China Internet Security Conference 2014High-speed train from Nanning to Beijing starts operation6 tycoons who fell from top 10 richest listA peak into Chinas largest technical schoolWays to promote real estate salesCrab harvest in Yangcheng LakeChina Economy By NumbersChina Economy by Numbers – Dec China Economy by Numbers – Nov NewsmakerAfter that IPO, is Jack Ma heading for the silver screen? Heading in the right directionMost ViewedTodays Top NewsMore progress lies ahead for FTZLi: Financial reform gains steamNatural gas vehicles to grow in China, expert sayBankers look to simplify rulesNew French pharmaceutical research hub to open in ShanghaiChina accelerates tourism development in TibetPBOC official sees bright side of shadow banksIntel to invest $1.5b in China mobile chipmakersHot TopicsFiat SpA Peugeot SA Taxi app Internet finance Housing price Disneyland 12306.cn WeChatEditors Picks6 tycoons who fell from top 10 richest list Top 10 richest individuals in China Top 10 Chinese cities with best air quality Top 10 regions that rely most on property SpecialsWhat to expect from Alibaba IPO2014 Chengdu Motor ShowChina Internet Conf to start on Aug 26…Media : |State Administration of Foreign Experts Affairs|QQ International|Peopleforum|workercn.cn|Partners : |State Administration of Foreign Experts Affairs|QQ International|Peopleforum|workercn.cn|Portals : |www.chinaso.com|Sina|Sohu|Tencent|Organizations : |China US Focus|FrenCham|CPAFFC|Gov.cn|eBeijing|AmCham|…| About China Daily | Advertise on Site | Contact Us | Job Offer |Copyright 1995 -. All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.License for publishing multimedia online 0108263 Registration Number: 20100000002731