CHINA FUTURE

[Riccardo Zingaro + 4]

Hi my name is Riccardo Zingaro and I am writing my thesis in Finance about chinese crude oil future. I have some questions about this topic:

1)Chinese government says that this future is gold backed but in the contract there is no information about this option. Why?

2)I want to do a regression between wti future and petroyuan future, but underlying are different:wti is sweet light oil, meanwhile chinese future is medium sour one. Do these 2 oils have the same variables in terms of trend or the difference in terms of quality does it change trends?

Thanks to all