A Delegation of Shanghai Clearing House and a Number of Chinese Banks Visit SPIMEX

On 24 October 2017, representatives of Chinese banks and financial markets infrastructure companies visited Saint Petersburg International Mercantile Exchange (SPIMEX). 
The delegation was led by Ms Zhou Rongfang, General Manager of the Shanghai Clearing House (SHCH) and included officials of Industrial and Commercial Bank of China, Export-Import Bank of China and a number of other banks and financial companies of the PRC. 
Alexey Rybnikov, President of SPIMEX, made a presentation of Russia’s largest commodity exchange and elaborated on its key objective: to establish a transparent and fair pricing mechanism for both domestically traded and exported Russian raw materials. 
The Chinese delegation demonstrated special interest in nuances of trading in SPIMEX’s markets of refined products, natural gas and derivatives. 
The parties discussed matters related to access of Chinese merchants, financial and industrial companies to trading in SPIMEX Urals Crude Futures. 
The visit of the Chinese delegation to SPIMEX took place in the run-up to the Sino-Russian forum on building a cross-border financial infrastructure and boosting of investments within the framework of One Belt and One Road Initiative. 
Saint Petersburg International Mercantile Exchange (SPIMEX) is the largest Russian commodity exchange which offers a wide range of products traded both in its Commodities Sections (refined products, crude oil, natural gas, LPG, timber and construction materials) and in its Derivatives Section. The Exchange’s key task is operating a transparent price formation mechanism to ensure fair prices for the commodities produced in Russia. SPIMEX was incorporated in 2008. 

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