Xinjiang Cotton Textile Industry Innovation Management Seminar” was held in Aksu Region
Since this year, the financial industry has continued to increase its support for Xinjiang’s cotton spinning industry. On June 3, the “Xinjiang Cotton Textile Industry Innovation Management Seminar” aimed at promoting the transformation and upgrading of local related industries was held in Aksu region. Professionals attending the meeting said that the recent global epidemic has Under control, macro policies are showing a contraction trend, but there are still many market uncertainties. Enterprises in the cotton textile industry chain should fully learn to use the functions of futures and derivatives markets to avoid market risks and upgrade the business model.
This seminar is hosted by the Xinjiang Uygur Autonomous Region Industry and Information Technology Bureau and the Xinjiang Production and Construction Corps Industry and Information Technology Bureau. It is supported by the Xinjiang Uygur Autonomous Region Local Financial Supervision Bureau and Zhengzhou Commercial Exchange. Aksu Prefecture Industry and Information Technology Bureau, Xinjiang Textile Trading Center and Huarongrong Undertaken by Da Futures. At the meeting, relevant professionals discussed the macroeconomic situation in 2021, the cotton/yarn market situation in 2021, the operation of cotton yarn futures, the yarn pledge financing model and how cotton spinning companies use it An in-depth explanation and analysis was given on how to avoid operating risks in the futures market. A total of more than 130 people from various regions, prefectures and municipal government departments in southern Xinjiang, representatives from 78 cotton spinning enterprises and cotton yarn business and trading units attended the meeting.
Huarong Rongda Futures macro researcher Hua Huali said in a keynote speech that since early May, the development of the global epidemic has generally slowed down, and global vaccination has accelerated. From the perspective of the economy and policies of China and the United States, China’s economy has peaked month-on-month, and credit continues to shrink; the United States is facing “weakemployment” and “strong inflation”, and the signal of gradually tapering off QE is gradually increasing. The trend is approaching, and a clear signal to exit QE may be released in September. In terms of exchange rates, factors such as U.S. vaccination, economic recovery, and narrowing of interest rate differentials have all provided support to the U.S. dollar. However, its rebound space has been suppressed by the dovishness of the Federal Reserve. The timing of the change may occur around the time when the United States begins to discuss reducing QE in the second half of the year. , if there is a change in the direction of the Fed’s policy, it will promote a stronger dollar.
Xie Ting, deputy manager of the Industry Research Department of my country Cotton Information Network, said that the current epidemic control situation is generally improving, overall consumption continues to recover, and global cotton ending stocks continue to decline. >Exportswill continue, and we are cautiously optimistic about demand in 2020/21. Judging from the performance of the industry, the good news this year has been reflected in the previous increase. The room for continued growth in the future depends on whether the expected growth in consumption can be realized and the sustainability of orders. Regarding the future market situation of cotton and cotton yarn, we need to pay attention to three aspects: first, the deviation of expectations, such as the risk of market fluctuations caused by the difference between the cotton output of the major cotton-producing countries in the northern hemisphere next year and market expectations; the second is to pay attention to Sino-US relations and the “return of the United States” Relevant chain effects caused by repairing alliance relationships; third, pay attention to the development trend of the epidemic, macro capital policy support, and inflation caused by the proliferation of the US dollar.
Li Jingli, director of the Financing Services Department of the Xinjiang Textile Trading Center, gave a targeted business explanation on the problems faced by the Xinjiang textile industry. According to reports, the Xinjiang Textile Trading Center is the only textile bulk commodity trading platform in Xinjiang approved by the People’s Government of the Autonomous Region. Its core service is “supply chain finance + yarn warehouse “Single Pledge Business” helps traditional textile companies solve problems such as single procurement methods and difficult and expensive financing.
Huarong Rongda Futures cotton analyst Wan Xiaoheng analyzed the various business strategies of cotton spinning companies in the post-epidemic era. He said that since 2021, raw material prices have shown an overall upward trend, and the fluctuation range of cotton prices is still higher than that of chemical fiber. With the price of short fiber, enterprises in the upper, middle and lower reaches of the cotton spinning industry chain are faced with the difficulty of controlling the quality of lint, and the prices at both ends of the purchase and sale are uncertain. Enterprises in the industry chain should make full use of the futures and derivatives markets. Function: transfer risks and stabilize operations by participating in hedging, futures arbitrage, basis trading and rights-containing trade.
The holding of this seminar enabled participating Xinjiang textile enterprises to learn more comprehensively about the nature and functions of cotton and cotton yarn futures, and made active publicity and guidance preparations for enterprises to use futures and derivatives tools. The relevant person in charge of Huarong Rongda Futures said that in the next step, the company will continue to promote risk management tools such as futures and options, and increase services to Xinjiang textile enterprises, and effectively give full play to the functions and functions of the cotton and cotton yarn futures markets. role in helping Xinjiang’s textile industry improve its scientific operation level.
AAA
Disclaimer:
Disclaimer: Some of the texts, pictures, audios, and videos of some articles published on this site are from the Internet and do not represent the views of this site. The copyrights belong to the original authors. If you find that the information reproduced on this website infringes upon your rights and interests, please contact us and we will change or delete it as soon as possible.
AA
