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The Shanghai Futures Exchange is preparing to introduce a shipping index futures product that to help importers and exporters hedge against big swings in transportation costs, said Li Hui, deputy general manager of the exchange.
The Shipping Index Futures will also help enhance the resilience of the supply chain and improve the quality of services, he said.
The design and preparation of the shipping index futures is almost complete, and it will be launched as soon as possible, Li said.
The production is likely to use the yuan as the settlement currency and the exchange is considering introducing it to Chinese and foreign traders as an open variety, he added.