An Analysis Of The Problems And Countermeasures Of China's Constructing Petroleum Futures Market

In these days, China as a net petroleum importer lacks in pricing power which impairs China' s national interests. Therefore, building petroleum futures market which has the functions of discovering prices and avoiding risks is reasonable. However, on the macro aspect, China' s laws and rules on futures and administrative regulative regime lag behind what futures market requires. On the micro aspect, China' s petroleum supply and sale markets are highly monopolized. Those challenge the construction of petroleum futures market which is characterized by perfect competition. How to solve these problems and to build a good petroleum futures market are the core issues of this paper.