BEIJING Feb 11 China's top securities regulator
is still preparing to launch oil futures and is considering
lifting restrictions on stock index futures imposed during the
2015 stock market crash, the Shanghai Securities Times said on
The newspaper report cited an internal meeting at the China
Securities Regulatory Commission (CSRC) held by its chairman,
It did not give any details about the timing of the crude
futures contract launch or when the limits may be relaxed.
A move to end curbs on equity futures would likely spur a
return of institutional investors and hedge funds to the market
and boost liquidity, which has shrunk due to the restrictions.
China's mid-2015 stock market crash wiped $3 trillion off
Since then, Beijing has tightened rules in the financial
sector. It has restricted trading in stock index futures, banned
grey-market margin financing and curbed shadow banking
On Jan. 20, Reuters reported that years-long plans for the
crude contracts, which would see Shanghai compete with
international benchmarks, had been shelved due to market
Saturday's media report said Liu, at the internal meeting,
reiterated the CSRC stance that it will continue to stabilise
commodities futures markets. Last year, speculators roiled those
trading items ranging from rubber and eggs to steel.
Liu was appointed CSRC chairman in early 2016, after his
predecessor was widely criticised following the crash.
On Friday, financial magazine Caixin reported that Liu
vowed to apprehend law-breaking financial tycoons he called
"giant crocodiles", saying they will not be allowed to "suck the
blood" of retail investors in China's capital markets.
(Reporting by Josephine Mason and Meng Meng; Editing by Richard