Hong Kong Exchanges May Introduce Commodity Products, Says Li
Hong Kong Exchanges & Clearing Ltd. may introduce products based on the raw materials that China consumes the most, said Chief Executive Officer Charles Li.
“We’re talking about providing solutions for people that use commodities,” said Li in a speech today to the Hong Kong Investment Funds Association. “China needs to develop those capabilities. It needs to have those pricing inflows in the global scheme in all the major areas where China is a big consumer.”
China is the world’s biggest user of copper, lead and aluminum and the second-largest energy consumer. The Shanghai Futures Exchange already trades raw materials, including copper, lead, aluminum and steel, while the Hong Kong Mercantile Exchange offers futures contracts based on gold.
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