"China plans to launch its long-awaited crude oil futures contract on March 26, the country’s securities regulator said.A move that could potentially shake up pricing of the world’s largest commodity market." " The launch will mark the culmination of a years-long push by China to create Asia’s first oil futures benchmark, and is aimed at giving the world’s biggest oil importer more clout in pricing crude sold to Asia. It will potentially give the Shanghai International Energy Exchange (INE), which will operate the new contract, a share of the trillions of dollars each year in oil futures trading. " " “The principal driver for the choice of this contract is to enable China to develop its own benchmark for oil pricing while increasing the trade of renminbi-denominated oil,” Browning said in a statement, using another name for the Chinese currency. But while the contract will be quoted in yuan, “the exchange will accept USD as collateral for initial margin,” opening the way for participation by non-Chinese companies, he added. " for more details about China Crude futures trading,please contact bill@bingoasset.com