Sword Means International "Voice" &Nbsp; The First Commodity Index Was Born.

The main purpose of the BCI index is to help China build a global pricing center for commodities and help Chinese enterprises grasp the industry.

In order to seize the "right of speech" in the international commodity sector, in January 5th, the business community issued "commodity supply and demand" in Shanghai.

BCI can directly reflect the monthly supply and demand changes and trends directly by monitoring the 100 basic prices of raw materials, which are the most upstream, the largest and the most widely used.

Complementing PMI

"Compared with PMI, select 20 industries to select hundreds of enterprises for the contribution of GDP, through questionnaires to purchase managers to investigate the ring characteristics of new orders, production, employees and other business activities. BCI directly tracks the monthly price fluctuation of bulk commodities in the upstream manufacturing industry. Based on the relationship between supply and demand, price and price changes reflect the principle of supply and demand change, the whole industry chain is compared and analyzed."

Sun Deliang, the founder of business society and chairman of business treasure, told reporters.

Economists have been looking for an indicator that can reflect the operation state of the macro economy and the prosperity of the manufacturing industry in a timely, accurate and comprehensive manner. PMI is one of its macroeconomic indicators, which are formed by monitoring the operation of hundreds of typical enterprises, and BCI is based on the monitoring of the price fluctuation of eight industries and 100 basic raw materials in the upper reaches of the manufacturing industry.

"Unlike the bulk commodity index released by most international organizations, the BCI we publish is a qualitative index that reflects changes in supply and demand by tracking price changes and ultimately reflects the operation of the manufacturing sector."

Zhu Xiaojun, vice president of business affairs and business treasure, said in an interview with the international finance daily, "apart from that, our coverage is relatively wide. It involves 100 varieties of eight industries, and the ordinary commodity index only involves 26-28 varieties."

Seize pricing power

"In terms of commodity trading and pricing, China has been in a passive position for a long time, especially in terms of the" right to speak "in terms of international procurement and import prices of iron ore, oil, grain and other commodities.

Sun Deliang told reporters, "this is an important driving force for the BCI of the business community."

According to Sun Deliang analysis, the absence of the pricing power of bulk commodities has resulted in a sharp rise in the prices of China's import commodities, which not only caused huge economic losses to the enterprises, but also led to the rise in prices of basic raw materials and products in the middle and lower reaches, which increased the operating costs of enterprises, weakened the international competitiveness of enterprises, and had a serious negative impact on the sustainable development of the national economy.

Liu Xintian, the chief editor of the China Commodity Research Center and the chief editor of the China Commodity Research Center, said that at present, the futures pricing center of bulk commodities in the world is mainly concentrated in a few developed countries, creating conditions for these countries to have pricing power.

China, as the major producer, consumer and trading country of many commodities, needs objectively a sound system, perfect mechanism and effective data and index, and gradually strengthens the discourse power of commodity pricing.

"The important purpose of the BCI index is to boost China's" global pricing center "for commodities and help Chinese enterprises grasp the right to speak and product pricing.

Liu Xintian told reporters, "this is also an important reason for choosing the BCI index in Shanghai."