China's 'big step' on futures to boost investment

Approving advanced trading tools paves way for cash flows

China took a "big step" toward opening its capital markets by approving stock index futures, paving the way for increased investment in the world's fastest-growing major economy, according to Invesco Ltd.

The China Securities Regulatory Commission said on Friday it may take three months to complete preparations for index futures, agreements to buy or sell an index at a preset value on an agreed date.