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Crude oil futures to start in a fortnight

China is set to launch the much-anticipated yuan-denominated crude oil futures contract in a fortnight, and institutions have been preparing their clients for it. Futures companies are offering training to clients, helping companies better understand how the financial product can mitigate risk, Gu Jingtao, an analyst with Bank of China International, told the Economic Observer. "The launch of the oil futures will greatly improve the risk management capability of small and medium-sized firms," Gu said. Futures brokerages have been competing for clients while testing technical systems to ensure smooth trading, according to Jia Shuchang of Industrial Futures, the report said.