(Yicai Global) Nov. 30 -- China will ease the process of exchanging capital gains into foreign currency and reducing overseas investors' costs in so doing, Fang Xinhai, vice chairman of China's securities regulator, said today in a further sign of the country's efforts to ease access to its financial market even more.
Fang made these remarks at the launch ceremony marking the opening of pure terephthalic acid futures trading to foreign investors at Zhengzhou Commodity Exchange in Zhengzhou, capital of China's eastern Henan province, according to a press release the bourse issued.
PTA is a petroleum substance used in various plastics, public information shows. It is the third commodity China has opened after crude oil in March and iron ore in May, Yicai Global reported at the time.
China will expand the range of securities that can be provided as a margin in an orderly way and enhance the efficiency of fund use to let more international investors participate in China's futures market, per the press release.
Editor: Ben Armour