Rapeseed oil, peanut kernel futures from Zhengzhou Commodity Exchange open to overseas traders

An employee works at a test field of the Chongqing engineering research center of rapeseed in Chongqing, southwest China, March 5, 2020. (Xinhua/Wang Quanchao)

ZHENGZHOU, Jan. 13 (Xinhua) -- The Zhengzhou Commodity Exchange on Thursday opened the rapeseed oil, rapeseed meal, peanut kernel futures, and options to overseas traders.

"By far, the domestic futures market has introduced foreign traders to all kinds of futures options in the whole oil industry chain, which is a big step for the opening-up of China's futures market," said Fang Xinghai, vice chairman of the China Securities Regulatory Commission at the launch event.

Chen Gang, vice president of China National Vegetable Oil Association, said China is the second largest importer and consumer of rapeseed oil and rapeseed meal in the world, and the largest importer and consumer of peanuts. With the further integration of China's oil industry into the global trading system, the interaction of related varieties has become increasingly close.

On the first trading day, 26 overseas traders participated in the trading of the new varieties.