Lawmaker proposes coal, coke futures in coal-rich China province

08:53, March 13, 2010      

Email | Print | Subscribe | Comments | Forum 

China should set up a coal and coke futures exchange in Taiyuan, capital city of the coal-rich Shanxi Province, as soon as possible, a lawmaker said Friday.

Launching coal and coke futures would allow investors to use arbitrage to preserve value of coal and coke in the production, transportation, and sales process, and would push China's coal industry to develop in a sustainable way, said Zheng Jianguo, head of Shanxi's provincial department of finance.

According to Zheng, a deputy to the National People's Congress, no other countries in the world have so far launched coke futures, but "it should be easy to form standardized contracts for the staple raw material for its active trade and frequent price fluctuations," he said.

He said Shanxi Province has "incomparable" advantages in setting up a futures exchange for coal and coke, as the province's coke production accounts for 40 percent of the country's total, and 18 percent of the world's total.

Source: Xinhua
  • Do you have anything to say?

双语词典
dictionary

  
Special Coverage
Major headlines
Editor's Pick
  • Elie Saab Fall/Winter 2010/11 women's ready-to-wear fashion show
  • Snapshots from Int'l Tourism Bourse in Berlin
  • High school students in Taiwan attend coming-of-age rite
  • Envy? Baby otter dossing down on mom's stomach
  • 1000th day of Israeli blockade on Gaza Strip marked
  • 20th anniversary of Lithuania's declaration of independence
Most Popular
Hot Forum Dicussion