Shanghai Futures Exchange to open wider for foreigners in bid to internationalise renminbi

BEIJING (Reuters) -The Shanghai Futures Exchange (ShFE) released draft proposals on Tuesday to further open up domestic futures to overseas investors and brokers as part of an effort to help internationalise the renminbi. China is the world's largest consumer of industrial metals by far, but much of the trade is priced by overseas benchmarks. ShFE has long been working on plans to build its global presence and challenge the dominance of the rival London Metal Exchange.