In 2014, high international oil prices suffered "ks";Still sing low in 2015, the international oil prices, and on oil faces an uncertain future, "a fall endlessly" is repeated China's crude oil futures speculation before the "hatched".

The incident lead on three questions: why should develop crude oil futures market?Why in the international crude oil prices fall during implementation of crude oil futures?Crude oil futures market in China can develop smoothly?

At present, Asia has not been a successful crude oil futures market.Several local Asian benchmark oil are determined by the WTI and brent prices eventually, cannot reflect the real market supply and demand relations in the asia-pacific region, resulting in exported to the asia-pacific region in the Middle East crude oil prices generally on the high side, that seek to countries, including China, reasonable oil pricing mechanism provides the external power.

Previously, Japan also launched their own crude oil futures, but was not successful.Investigate its reason, one is Japan's economic development is slow, the futures market as a whole is not active;The second is totally dependent on crude imports in Japan, to a single.China, by contrast, is not only the oil consumption big country, is also an important oil producer with an annual output of 200 million tons of crude oil.At the same time, after many years development, our country has been involved in energy futures varieties, agricultural products, metal and other fields, and the size of the market continues to expand.

Taken together, our country development of crude oil futures.Together with the international oil prices prompted domestic petroleum and petrochemical enterprises to seek value related safe-haven demand, establish crude oil futures market conditions and the time is ripe, the so-called "days".

Then oil futures listed on the category of regional factors into account, to expand the international influence of China's crude oil futures, in addition to the size of the market, the renminbi will become important in the field of international oil trade settlement currency is also crucial.But in order to realize the internationalisation of the renminbi, need to build an influential international financial centre.

At present, Hong Kong is the largest offshore RMB centre.But with the establishment of the Shanghai free trade zone, its offshore renminbi financial markets would be more scale, this means that Shanghai has the opportunity to become a global yuan price of commodity and currency derivatives trading center.Based on a free trade area, China's crude oil futures in the aspect of introducing foreign investors will be more attractive, at the same time also can expand the level of opening to the outside world, China's futures market this is the "right time".