"Yarn Futures Forum" Held In Beijing

In July 22nd, textile downstream enterprises sponsored by China Textile Industry Federation Circulation Association, China Cotton Textile Industry Association, China knitwear industry association and China Household Textile Industry Association. "Yarn futures forum" In Beijing, a total of more than 20 participants from the relevant industry organizations and representatives of textile downstream enterprises participated in the discussion on cotton yarn futures development and the futures contract rules of the DCE. The introduction of cotton yarn futures, forming a fair market price and providing hedging tools has become the common aspiration of the downstream yarn consuming enterprises.

In February this year, the big business office submitted the application for yarn futures to the SFC and received the high attention and support from the China Textile Association and related enterprises. After that, DAC made close cooperation with China Textile union to carry out the research on cotton textile futures, and held a "yarn futures expert seminar (Dalian)" for the yarn production and circulation enterprises in early July.

Representatives from knitting and home textile enterprises from Jiangsu, Shandong, Guangdong and Hongkong indicated that in the development of cotton yarn futures, we hope to fully consider the different needs of downstream consumer enterprises. At the same time, we should consider whether the cotton yarn with different branches can be linked together to form a set of product system to meet the market demand characteristics of cotton yarn and enhance the effect of the futures market in serving the real economy. Some enterprises believe that the functions of the futures market are mainly price discovery and hedging. Enterprises do not always have to deliver goods through delivery, so the exchange selects representative products as the target of the transaction. In addition, when designing cotton yarn futures contracts, consideration should be given to whether the imported cotton yarn with increasing quantity should be covered.

Representatives of participating enterprises are also concerned about the quality standards and quality inspection of cotton yarn futures delivery. Ye Jianchun, vice president of the China Cotton Textile Association, said that the design of cotton yarn futures quality standards should follow the principle of simplicity in Xunhua. Some of the current national standards need subjective determination, and the indicators that the ordinary enterprises do not pay much attention to can not be included. In the third party inspection, the cotton textile association will work closely with the big business institutes to conduct a comprehensive inspection of the equipment and inspection ability of all quality inspection institutions, and strictly control the third party quality inspection links so as to ensure fairness, impartiality and openness.

After participating in the forum, enterprises hope that after the listing of cotton yarn futures, the exchange can prevent excessive speculation and ensure that the price is in line with the current price, so that enterprises can participate actively and effectively. In this regard, Zhu Lihong, deputy general manager of DAC, said that the development of cotton yarn futures will give full consideration to the industrial needs, facilitate the participation of industrial customers, and form a pricing model based on industrial customers, so as to better serve the development of the industry.

Gao Yong, vice president of China Textile Association, said that the futures of cotton yarn listed on the market could be improved. Textile industry The marketization level is an inevitable trend. DQ has done a lot of work in cotton yarn futures research in a conscientious and responsible manner, and it is worth affirming. At the same time, Gao Yong also made suggestions on the statistical data and the actual market data in subsequent research.

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Yang Shibin, assistant chairman of the China Textile Federation, believes that in the follow-up development of cotton yarn futures, we should make an in-depth study on the development process of the international cotton yarn futures and the standardization of cotton yarn. Yang Zhaohua, President of Home Textile Association, thinks that the selection of cotton yarn futures and the design of quality standards are a systematic project. We should try to expand the participation of the industry and do all the work well, which is positive energy for the development of the industry.

The chairman of the cotton textile association, Zhu Bei Na, said that the future of cotton yarn futures is a major trend. Next, the cotton textile association will assist the big business to carry out related work. For cotton varieties, ordinary enterprises are more likely to participate in the delivery, so the next step is to consider further seeking advice from small and medium-sized enterprises.

Xia Lingmin, vice president of China Textile Association, said in his concluding speech that Cotton yarn futures On the market, we should thoroughly investigate and understand the needs and concerns of downstream consumer enterprises, facilitate the participation of consumer enterprises from the perspective of healthy development of the industry, and use futures market price discovery and hedging functions to promote industrial development. He also hoped that the exchange and the Federation could continue to maintain active communication and in-depth cooperation to further promote related work.