On May 22nd, JIANG Yang, Vice Chairman of the China Securities Regulatory Commission (CSRC), delivered a speech entitled "Reflections on the Building of an International Crude Oil Futures Market in China".

JIANG Yang, CSRC Vice Chairman

Jiang began his lecture by explaining the necessity of having a crude oil futures market. According to him, futures market plays a positive role in the long-term price discovery, hedgingprice risk management. He reviewed the three historical periods in the development of global oil marketsa snapshot of China's futures market, emphasizing the importance of establishing an oil futures market. Later, he analyzed its feasibility from market construction, legal regulation, human resourcesother perspectives. He elaborated on the basic ideas of such practice, including objectivessupervision methods. He also analyzed the challenges ahead.

(Reported by a student correspondent: SHI Jihua)