Crude oil futures signal China near commodity pricing power

Debut of March 26 will enable nation to develop its own benchmark

BEIJING - China will launch crude oil futures on March 26, as the world's second-largest economy moves to gain pricing power over commodities.

After years of false starts, the crude futures contract will make its debut at the Shanghai International Energy Exchange or INE, the China Securities Regulatory Commission, the country's top securities regulator, announced on Feb 9.