Shanghai launch could pave way for more economic, financial reform

China will launch bitumen futures contract trading, the first of its kind in the global market, in Shanghai on Wednesday to offer companies more hedging tools and improve the structure of the economy, according to a statement from the Shanghai Futures Exchange on Tuesday.

Analysts said China has sped up the expansion of the commodity futures market to help enterprises to handle risk and to have a bigger say in the pricing of major commodities in the global market.