Crude beginnings: China's oi

Crude beginnings: China's oil futures

crude: 中国仓促开始原油期货市场

① The world's biggest importer of oil is trying to get more say over its pricing.

世界上最大的石油进口国，想要在石油定价上掌握更多话语权。

② China will launch crude futures today, with three goals.

中国今日将启动三款原油期货，目标有三。

③ Narrowly, it wants to help domestic companies hedge against volatility in the oil price.

从狭义上讲，中国希望帮助国内的公司对冲油价波动的影响。

④ More ambitiously, it hopes to create a benchmark for Asia, rivalling Brent in Europe and West Texas Intermediate in America.

更宏达的目标是，中国希望为亚洲设个标准，以与欧洲的Brent，美国的西德克萨斯州中级原油抗衡。

⑤ Most ambitiously, it thinks the crude contract, priced in yuan, will boost its currency as an alternative to the dollar.

最宏大的目标是，中国认为原油合同如果以元定价，会讲其货币提升到可以替代美元的高度。

⑥ With the oil market so diffuse globally and the dollar the accepted standard for pricing, it could take years for China to have much of an impact.

全球石油市场如此分散，而美元作为定价标准早已得到普遍认可，中国可能要花上很多年才能取得一席之地。

⑦ The immediate priority for the Shanghai Futures Exchange, which will host the contract, is a smooth launch.

承担石油期货合同的上海期货交易所当前最紧迫的任务，是让合同顺利启动。

⑧ To ward off speculators, notorious in Chinese markets, it has made the storage of oil very dear.

中国市场历来投机者甚多，为预防有人趁此投机，中国已经大幅提高储油成本。

⑨ But a modest start should not obscure China's long-term aspirations.

不过，起点再低也挡不住中国实现远大目标的决心。