男友太凶猛1v1高h,大地资源在线资源免费观看 ,人妻少妇精品视频二区,极度sm残忍bdsm变态

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Finance

Tax breaks likely to boost global interest in crude oil futures

By Zheng Xin | China Daily | Updated: 2018-03-21 09:37
Share
Share - WeChat

China will waive income tax for foreign investors trading the country's new crude oil futures contract for three years so as to attract more overseas capital for the launch, the Ministry of Finance said on Tuesday.

Foreign brokers will also be exempt from paying income tax on commissions from dealing in Shanghai crude oil futures, the finance ministry said.

China will launch the crude oil futures contract at 9 am on March 26 at the Shanghai International Energy Exchange.

The trading margins for the futures have been set at 7 percent of the contract value, while the upward and downward trading limits will be 5 percent, with the trading limits on the first trading day set at 10 percent of the benchmark prices.

Analysts believe the tax exemption is a bonus for the much anticipated launch of crude oil futures in the country.

"The exemption of income tax and individual income tax will help in the promotion of the crude oil futures," said Li Li, energy research director at ICIS China, a consultancy that specializes in the energy market.

"Foreign investors that trade in China's new crude oil futures contract will keep an eye on its future influence and scale, as well as the potential of the Chinese market, while the tax incentives are like an icing on the cake."

The crude oil futures will also help the country develop its own benchmark for oil pricing in addition to current global benchmarks, she added.

The Asia-Pacific region has surpassed America and Europe in crude consumption, but a benchmark with high recognition has been missing.

Li said the launch of the crude oil futures contract will help fill in the gap and more accurately reflect the oil prices in Asia, giving companies in the real economy a bargaining tool while importing crude. She said if the trading in Shanghai goes well, China could help cut down the premium in Asian countries.

Wang Lu, an Asia-Pacific oil and gas analyst at Bloomberg Intelligence, said the tax incentive could help increase the number of participants in trading.

"More participants can generate higher liquidity, which is the foundation to form an effective and influential pricing of the crude futures," she said.

"The price of crude futures will reflect market expectations of global supply and demand balance, geopolitical risks, macroeconomic situation and some regional factors such as China's crude imports, refineries' run rate and refining margins."

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 根河市| 古交市| 合作市| 台山市| 锦屏县| 新密市| 高青县| 封丘县| 乐都县| 北碚区| 陇川县| 金塔县| 廊坊市| 贵州省| 凌源市| 奎屯市| 富川| 秀山| 马尔康县| 玉门市| 芦山县| 巴南区| 九龙县| 喜德县| 临武县| 菏泽市| 宜兴市| 瑞昌市| 汶上县| 怀宁县| 黑龙江省| 巴彦县| 大理市| 慈利县| 嘉兴市| 海丰县| 凤台县| SHOW| 赫章县| 确山县| 山丹县|