China's securities watchdog, the China Securities Regulatory Commission, has approved putting the country's corn futures on the domestic market.

The country's annual corn output is 120 million tons, ranking second in the world.

Corn futures transactions were approved ten years ago by the Chinese government but were halted in 1995.

Analysts say the latest move could have a huge influence on the corn price in the international market.

(CRI August 27, 2004)