Chinese officials ring the bell for the official debut of liquefied petroleum gas (LPG) futures and futures contracts at the Dalian Commodity Exchange in Dalian, Northeast China's Liaoning Province, on Monday. The futures are the first type of gas energy contracts launched in China's futures market. Photo: CNSphoto

A commodity exchange in Central China's Henan Province, ranked seventh in the first half of the year in trade deals, according to a major industry ranking report, as China is gaining more influence in global commodities pricing.

The Zhengzhou Commodity Exchange (ZCE) ranked seventh globally in the first half of this year in terms of total trading volume of major futures and derivatives exchanges in a ranking issued by US Futures Industry Association (FIA), according to Xiong Jun, chairman of ZCE.

According to ZCE it will continue to expand the coverage of the futures market to serve the development of the agricultural industry and China's rural revitalization, speeding up the listing for poultry futures, and futures products of potato, sunflower seeds, garlic and other rural commodities.

There are 94 futures and options products listed on Chinese futures market, covering agricultural products, non-ferrous metals, steel, energy, chemicals and finance, according to Fang Xinghai, vice chairman of China Securities Regulatory Commission (CSRC).

Nine oil futures have been opened to overseas investors as Chinese futures is gaining more international influence, Fang said on Wednesday.