Once a strictly regulated market only reserved for domestic investors, China’s commodity exchanges are gradually opening up to foreigners as part of an effort to increase the influence of the yuan — global benchmarks on commodities are still mostly priced in dollars. In addition to the expansion of investments permitted for foreign investors, Chinese exchange operators also plan to add futures contracts for key raw materials, including apples and cotton yarn, as well as options on copper and corn, according to Bloomberg.
Progress has been slow this year. In March, Dalian published a hog-price index, indicating a start of trading in related futures. In early April, Zhengzhou Commodities Exchange said that it had finished a draft contract design for apple futures. However, breakthroughs on real changes are rare, as the China Securities Regulatory Commission has yet to approve any new futures contracts.
A $60 billion ecommerce loophole in China may be narrowing / Bloomberg
“Known as cross-border e-commerce, the booming backdoor avenue allows Chinese consumers to buy overseas-manufactured goods online and effectively circumvent the regulatory issues that have stymied access to consumer products from cosmetics to Cognac. Faced with pressure from conventional retailers at home, and the loss of tax revenue, the government is now looking at overhauling the legal loophole.”
Amid industry pushback, China offers changes to cyber rules: sources / Reuters
“China may delay full implementation of controversial new cyber security rules, giving companies more time to prepare, two people who attended a meeting on Friday between the country’s internet regulator, businesses and diplomats told Reuters.”
China claims breakthrough in mining ‘flammable ice’ / BBC
“China has for the first time extracted gas from an ice-like substance under the South China Sea considered key to future global energy supply.”
- China’s mid-sized cities are enjoying a property boom / The Economist (paywall)
- China’s investments in the U.S. are setting off a clash of statistics / Quartz
- After ‘The Great Wall,’ can China-Hollywood co-productions be saved? / Hollywood Reporter