Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)

A Case Study of the Crude Oil Treasure’s Wearing Incident on 20th April, 2020

Authors
Jiani Xu1, *, Chuxiang Yang2, Lixiang Qu3, Xiaoshuai Wang4
1High School affiliated to Shanghai Jiao Tong University, Shanghai, 200439, China
2High School of Dong Hua, 523000, Dongguan, China
3JSerra Catholic High School, San Juan Capistrano, California, United States of America
4Oaks Christian School, Thousand Oaks, 91362, California, United States of America
*Corresponding author.
Corresponding Author
Jiani Xu
Available Online 26 March 2022.
DOI
10.2991/aebmr.k.220307.080How to use a DOI?
Keywords
Negative oil price; risk management; Crude oil futures; Crude Oil Treasure financial management
Abstract

On April 20, 2020, eastern time, WTI crude futures fell into negative territory. The incident caused huge losses to Chinese investors due to improper practices by the Bank of China. Studying the incident of crude oil treasure’s wearing helps China’s financial industry avoid similar events in the future. The purpose of this paper is to analyze the cause of the incident. Among them, the problem of product design makes most investors crazy to buy crude oil treasure products. In addition, investors’ lack of investment knowledge and blindly following the trend are the reasons for the occurrence of this event. Additionally, through the analysis of systemic and non-systemic risks before and after the event, we find that China’s financial market still has some flaws. Thus, we provide suggestions for relevant departments, products, and investors.

Copyright
© 2022 The Authors. Published by Atlantis Press International B.V.
Open Access
This is an open access article under the CC BY-NC license.

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Volume Title
Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
26 March 2022
ISBN
978-94-6239-554-1
ISSN
2352-5428
DOI
10.2991/aebmr.k.220307.080How to use a DOI?
Copyright
© 2022 The Authors. Published by Atlantis Press International B.V.
Open Access
This is an open access article under the CC BY-NC license.

Cite this article

TY  - CONF
AU  - Jiani Xu
AU  - Chuxiang Yang
AU  - Lixiang Qu
AU  - Xiaoshuai Wang
PY  - 2022
DA  - 2022/03/26
TI  - A Case Study of the Crude Oil Treasure’s Wearing Incident on 20th April, 2020
BT  - Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)
PB  - Atlantis Press
SP  - 496
EP  - 503
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.220307.080
DO  - 10.2991/aebmr.k.220307.080
ID  - Xu2022
ER  -