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All Chinese Oil Traders Want for Christmas Is a Futures Contract

  • Speculation growing that domestic contract will be listed soon
  • Chinese commodities trading has slowed this year, data shows

Photographer: Andrey Rudakov/Bloomberg

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Unlike Mariah Carey, all Yuan Quwei wants for Christmas is to trade oil futures on a Chinese exchange.

She’s among the mass of speculators that have pumped trillions of yuan into the country’s fledgling commodities bourses, trading in everything from eggs to iron ore futures with extraordinary intensity. She’s now waiting for the launch of China’s long-delayed domestic crude contracts, and hoping it’ll be in time for Christmas.