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Lawmaker proposes coal, coke futures in Taiyuan
(Xinhua)
Updated: 2010-03-13 10:42
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China should set up a coal and coke futures exchange in Taiyuan, capital city of the coal-rich Shanxi province, as soon as possible, a lawmaker said Friday.
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According to Zheng, a deputy to the National People's Congress, no other countries in the world have so far launched coke futures, but "it should be easy to form standardized contracts for the staple raw material for its active trade and frequent price fluctuations," he said.
He said Shanxi province has "incomparable" advantages in setting up a futures exchange for coal and coke, as the province's coke production accounts for 40 percent of the country's total, and 18 percent of the world's total.
