In order to strengthen the exchange of experiences in financial matters, between the People’s Republic of China and the Bolivarian Republic of Venezuela, the Executive Vice President of the Republic, Delcy Rodríguez, visited the Shanghai International Energy Exchange (INE) on Wednesday.
Rodríguez is accompanied by the Minister for Petroleum and also President of PDVSA, Pedro Tellechea; the Ambassador of the Bolivarian Republic of Venezuela in the Asian Giant, Giuseppe Yofreda and the deputy to the National Assembly, Nicolás Maduro Guerra, who make up the Venezuelan delegation.
During the tour, representatives of the Shanghai International Energy Exchange explained to the Venezuelan authorities, through a photographic exhibition and a compilation of newspapers, the behavior of the stock market of the People’s Republic of China and the Shanghai Stock Exchange in order to exchange experiences. in this area it stands out as one of the futures markets.
The International Energy Exchange makes it possible to hedge oil price risks and establish an Asian oil pricing system.
The exchange was registered in the China (Shanghai) Pilot Free Trade Zone on November 6, 2013. It operates the listing, clearing, settlement, and delivery of futures, options, and other derivatives. It formulates business rules, implements public self-regulation, market information, and provides technology, venue, and facility services for the direct participation of foreign operators and brokers.
Important meeting in progress with senior managers of the international energy exchange and Venezuela is present in the context of knowing the variation in the future market of Shanghai in the energy sector.
