Zhengzhou Commercial Exchange joins hands with China Cotton to help the high-quality development of the cotton industry

On September 9, Zhengzhou Commodity Exchange (hereinafter referred to as “Zhengzhou Commodity Exchange”) held the “Chinese Cotton Warehouse Receipt Purchase and Sales Special Zone Online and Signing Ceremony”, which marked the Zhengzhou Commodity Exchange’s innovative service model and improved An important step has been taken in industrial service capabilities. After the signing ceremony, the Zhengzhou Commodity Exchange held a symposium and exchange meeting with cotton companies. Representatives from China Cotton Group Co., Ltd. (hereinafter referred to as “China Cotton”) and eight cotton-related companies discussed how to fully tap the futures market to serve the cotton industry.QualityDevelopment potential, enrich the service cotton industry model, and improve the industry’s ability to withstand risks.

A reporter from China Securities News learned that since the listing of cotton futures in 2004, Zhengzhou Commodity Exchange has continued to optimize service supply, adjust benchmark delivery locations, listed cotton options and cotton yarn futures , launched an over-the-counter platform, innovatively launched a warehouse receipt buyout repurchase business, etc., and actively contributed to the steady development of the cotton industry. The cumulative registration volume of cotton futures warehouse receipts in 2020 is 1.92 million tons, accounting for 30% of domestic production. As of the end of August this year, 72 cotton industry chain companies had raised 14.434 billion yuan through OTC platform warehouse receipt transactions, which to a certain extent alleviated corporate financing difficulties and expensive financing issues.

He Xiyu, President of China Cotton Group, said that in recent years, China Cotton Group, based on its own international and domestic resources, has given full play to its comprehensive advantages in capital, channels, etc., to build a China Cotton Group resource purchase and sales platform, and to innovate the business model of bulk agricultural products. Based on the on-site pricing of Zhengzhou Commodity Exchange futures, we have comprehensively improved our marketing service capabilities and industrial extension capabilities. We will not cover the market when cotton prices rise, and we will not hesitate to sell when cotton prices fall, achieving an innovative platform operation that combines futures and cash. Since the platform was launched, the total amount of resources invested has exceeded 1.2 million tons, and the total transaction volume has been close to 1.1 million tons. It has served 1,476 customers in 22 provinces, stabilized the supply of raw materials for downstream textile customers, and played an important role in ensuring domestic cotton market supply and stabilizing market prices. “Stabilizer” effect.

“The launch of the China Cotton Warehouse Receipt Purchase and Sales Zone is a good start for the cotton industry chain to ensure long-term supply and stable prices and enhance international bargaining power.” He Xiyu said that in the next five years, China Cotton will continue to increase its control of primary resources. Capacity and operating scale of textile raw materials. By the end of the “14th Five-Year Plan”, primary resource control has reached 1.5 million tons, and the cotton business scale has reached 3.5 million tons. At the same time, cotton yarn, staple fiber, PTA and other textile-related varieties have been expanded. , further enhance the ability to empower textiles, realize the transformation from a leading enterprise to a core enterprise, and go all out to build a cotton industry supply chain platform and an industrial ecosystem.

“On the one hand, on the basis of the pilot, we will steadily expand the scale of platform purchases and sales, explore the transaction and delivery of non-standard warehouse receipts, and further enhance the participation and activity of cotton futures while meeting the needs of downstream customers. On the other hand, Explore and attract more financial institutions and related enterprises to enter the comprehensive business platform China Cotton Purchase and Sales Zone, jointly empower the industrial chain, give full play to the platform’s role as a link to serve the real economy, and promote the high-quality development of the cotton industry.” He Xiyu said.

Xiong Jun, Chairman of Zhengzhou Commercial Institute, said that since the beginning of this year, in the face of the continued rise in bulk commodity prices, the Party Central Committee and the State Council have repeatedly emphasized the need to ensure the supply of bulk commodities. Price stabilization work. This time, the Zhengzhou Commodity Exchange jointly launched the China Cotton Warehouse Receipts Purchase and Sales Zone, which is not only an innovative attempt to promote futures and spot integration, on-site and off-site interoperability, and upstream and downstream linkage, but also an important measure to implement the spirit of the National Standing Committee to ensure supply and stable price. On the one hand, it can play the leading role of China Cotton in promoting the upstream and downstream collaboration of the industrial chain, helping to form a market service pattern in which “the market leads the leader, the leader leads the industry, and the industry connects farmers”. At the same time, it can also use “basis quotation and futures price point” The trading model guides enterprises in the cotton industry chain not to cover the market when prices rise and sell when prices fall, and promotes the use of market-oriented means to ensure long-term supply and stable price of cotton.

Xiong Jun said that for a long time, Zhengzhou Commercial Institute and China Cotton have established a stable and friendly cooperative relationship. As the first national-level agricultural industrialization leading enterprise in the cotton industry, China Cotton has given strong support to Zhengzhou Commodity Exchange in cotton futures market research and cultivation. Both parties have worked together to promote the functions of cotton futures and have made great achievements in serving the high-quality development of the cotton industry. achieved positive results. Taking this signing ceremony as an opportunity, Zhengzhou Commodity Exchange will continue to deepen the cooperation between the two parties, optimize and improve the service model, and continue to do a good job in building the over-the-counter market.

First, starting from the launch of the special purchase and sales area, in accordance with the development ideas from standard warehouse receipts to non-standard warehouse receipts, and from cotton varieties to PTA, cotton yarn, staple fiber and other textile varieties, we will actively explore, boldly innovate, standardize operations, and continuously Expand platform functions.

The second is to promote and copy the “platform +” futures and cash cooperation model on the basis of summarizing the experience of the special purchase and sales area, strive to cover the products already listed on the Zhengzhou Commercial Exchange, and promote the formation of a “platform + platform” and “platform + leader” business cooperation model , contributing to the strength of futures in order to realize the strong alliance between the platform and leading enterprises and the common development of upstream and downstream companies.

The third is to solve practical problems� Targeting the pain points, difficulties and congestion points of enterprises, we will continue to enrich off-site business models, innovate on-site and off-site linkage channels, and strive to provide more convenience for industrial customers to manage risks and operate stably.

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.