The Shanghai Administration of Industry and Commerce has approved the establishment of Shanghai International Energy Exchange in the Shanghai Pilot Free Trade Zone with a registered capital of 5 billion yuan (US$821 million).

The Energy Exchange, so far the largest financial institution in the zone, is a joint venture between Shanghai Futures Exchange and Shanghai Futures Information Technology Co. It is the fifth national futures exchanges approved by the China Securities Regulatory Commission.

The Shanghai International Energy Exchange will specialize in crude oil, natural gas and petrochemical transaction.