BEIJING, March 12 A former executive of Shanghai
Futures Exchange said on Sunday that the exchanges is "actively"
preparing to launch the long-awaited crude oil contract, but
declined to comment on the timeline for the launch.
* Yang Maijun, former head of the Shanghai Futures Exchange
made the remarks to Reuters on the sidelines of China's annual
* Yang also said the exchange will step up supervisions to
cope with market volatility.
* Chinese media report in February said China's top
securities regulator is still preparing to launch oil
* Reuters reported in January that China has shelved an
ambitious plan to launch the contract due to market resistance
and concerns over Beijing's capital control and heavy-handed
(Reporting by Meng Meng and Chen Aizhu; Editing by Simon