The China Securities Regulatory Commission (CSRC) said Friday that it had approved the registration of monthly average price futures of three major chemicals, namely linear low-density polyethylene (LLDPE), polyvinyl chloride (PVC) and polypropylene (PP).

Trading of these futures will be launched on the Dalian Commodity Exchange in northeast China's Liaoning Province, according to a statement on the CSRC's website.

The CSRC said it will ask the exchange to make all the necessary preparations to ensure the steady launch and operation of these futures.

LLDPE, PVC, and PP are three major plastic chemical products, and China is a major producer and consumer of these products.