The China Securities Regulatory Commission (CSRC) gave the green light to trading of ethanediol futures on the Dalian Commodity Exchange on Friday.
The futures trading will be launched on December 10, 2018, according to Chang Depeng, spokesperson with the CSRC.
Ethanediol is an important raw material to the chemical fiber industry, with China ranking as the world's largest producer and consumer of the product, Chang said.
Drastic price fluctuations of ethanediol have exerted a big impact on related industries. Futures trading, as a tool of hedging and price bargaining, could promote the structural upgrading and healthy development of the industry, Chang said.
The CSRC has asked the Dalian exchange to make full preparations to ensure steady operation of the trading.