China's securities regulator approves trading of low-sulfur fuel oil

China's top securities regulator announced on Friday that it has given the nod to the trading of low-sulfur fuel oil futures.

The trading of low-sulfur fuel oil will be launched on the Shanghai International Energy Exchange starting from June 22, the China Securities Regulatory Commission (CSRC) said on its official website.

Low-sulfur fuel oil, an important fuel for maritime transport, will be allowed to be traded by overseas investors, the CSRC said, stressing that trading and overseas access will help provide enterprises with price signals and effective risk management tools, and will boost the steady and sound operation of the sector.

The commission will urge the exchange to make full preparations to ensure the steady operation of trading.