LME ASIA WEEK 2018: HKEX continues to seek 'best way to fit' into China story

The Chinese market is becoming so big and important globally that “we just need to find the best way to fit in,” Hong Kong Exchanges & Clearing (HKEX) chief executive officer Charles Li said in an exclusive interview with Metal Bulletin ahead of LME Asia Week.

China has been opening up its economy and markets: In May it permitted for the first time the trading of iron ore on the Dalian Commodity Exchange by foreign investors, having in March allowed foreign investors to trade crude oil futures on domestic exchanges.

Its oil and iron ore contracts could become templates for China to open up other commodities contracts to foreign investors, giving China more pricing power, many market participants believe.

“China obviously wants to have the right level of influence over global commodities prices and there are few ways of doing this: They can come out aggressively, participating internationally or in their own markets, and allow international players to come in to play...

Published

Shivani Singh

May 10, 2018

10:22 GMT

Singapore