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TITLE: Challenges and Development of Fuel Oil Futures Market and Risk Management in China
SPEAKER: Professor WANG Zhen
ABSTRACT:
The fuel oil is one of the important oil products and the annual consumption amount was greater than that of gasoline before 2004 in China. It is the only energy commodity freely priced under market oriented mechanism. The empirical results using price and trading volume of the
futures traded on the Shanghai Futures Exchange and Huangpu spots show that Shanghai fuel oil futures market exhibits a highly effective price discovery and hedging function. Theses results have profound implications to deregulate other oil products price and further develop energy derivatives in China.
Short Bio:
Professor Zhen WANG is the founding Executive Director(2006-) of China Energy Strategic Research Institute and served as the Dean of School of Business (2004-2011) in China University of Petroleum at Beijing. He is currently a Fulbright Visiting Research Scholar at Darden Graduate School of Business, University of Virginia.
Professor Wang is also the chief scientist of the Key Projects of Philosophy and Social Sciences Research, Ministry of Education. He received his Ph.D. in finance from Peking University. Dr. Wangs research interests include M&A, Real Options, Risk Management and energy Strategy. Dr. Wang has completed more than thirty projects sponsored by NDRC, MOST, MOFCOM, NEA and China oil majors. He has also published more than forty academic papers and five books in the last five years. As a leading expert in energy policy, Dr. Wang is frequently interviewed by CCTV, CNR, Xinhua News, Peoples Daily. Dr. Wang was awarded the 9th Global Finance Conference best paper award, Peking University best dissertation award, NEA Research Award, among other academic awards.
