On Friday, the Shanghai Futures Exchange successfully completed China's first ever delivery of crude oil. It consisted of a total volume of 601,000 barrels, and a delivery amount of 293 million yuan. The first crude oil delivery is always closely watched, especially by foreign traders. It closes the loop of the crude oil futures business process. For more, CGTN correspondent Han Bin talks with J.P. Morgan Futures CEO Rochelle Wei on the performance of the Shanghai Oil futures contracts.

ROCHELLE WEI, CEO J.P. MORGAN FUTURES CO., LTD "There's a lot of client interests, they would like to trade INE crude oil. INE took a short period of time, to develop the market into a meaningful size, and it already shows influence to the WTI and Brent contracts."

HAN BIN SHANGHAI "Opening China's futures markets needs to change the mindset. Then what does breaking the barriers in mind mean in the next round of China's reform?"

ROCHELLE WEI, CEO J.P. MORGAN FUTURES CO., LTD "I think now is the time to accept more foreign participants. With China's commitment for further opening up the capital market, it will provide a bold role for RMB internationalization. From the industry's perspective, it allows them to enhance against global oil price volatility, and help them discover oil prices from a domestic production perspective."

HAN BIN SHANGHAI "How do you see its prospect as a key regional benchmark?"

ROCHELLE WEI, CEO J.P. MORGAN FUTURES CO., LTD "From the regulator and exchange point of view, China's futures market will be more open. There are some contracts in preparation for internationalization, this market will continue to open up to international investors. In terms of the outlook, we are very optimistic, that China will play a more and more important role in terms of the global economies, we look forward to the success in the next round of reform and opening up."

HAN BIN SHANGHAI "Thank you."