Yu Zhanhai Said That Several Cotton Futures Pfer Banks Have Been Established In Xinjiang.

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Xiaobian of the network to introduce the remaining War: in Xinjiang has established a number of cotton futures pfer library.

In October 18, 2014, the Zhengzhou mercantile exchange held the "2014 Zhengzhou agricultural products (cotton) futures forum" in Zhengzhou.

The forum aims to explore ways and means of innovating agricultural products futures to serve the real economy, giving full play to futures market functions and promoting sustained and healthy development of agricultural industry.

Ho sum futures was invited to cover the meeting.

Xinjiang agricultural group Yu Zhanhai believes that the cotton industry in Xinjiang can serve as a reserve base for the cotton futures market of the Zhengzhou commodity exchange, but there are many unfavorable factors in Xinjiang. It is also that the sales area of Xinjiang from the mainland is probably between 3000 and 5000 kilometers. Textile enterprises are also very worried about the issue of delivery and pportation of Xinjiang cotton, which has existed for many years.

The 18 futures delivery warehouses of Zheng Shang are in the mainland. Xinjiang's cotton output has been 4 million 800 thousand tons this year. Now it is also a buyer's market. Many experts have said that the difficulty of selling cotton this year is not easy to break.

The following is a record of the speech:

Yu Zhanhai: Thank you, Mr. Chen. We also thank Zheng Shang for giving us this opportunity to participate in the forum.

Today, I see many experts and colleagues are very happy. Next, let me talk about the viewpoint of futures pfer department in Xinjiang. We all know very well that Xinjiang cotton occupies a very large leading position in the agricultural economy of Xinjiang. The state has listed Xinjiang as the strategic cooperation area of the national cotton industry, and also the industrial base of high quality cotton.

Xinjiang

From its planting scale, including quantity and output, it has taken a very dominant position both at home and abroad.

In 2013, the cotton planting area in Xinjiang reached 27 million, and the output was 4 million 500 thousand tons.

The pilot of cotton target price in Xinjiang should be liberalized and liberalized. It should be said that it is a very good thing for Xinjiang's cotton industry.

It is estimated that the output of cotton has reached 4 million 800 thousand tons in 2014, which accounts for more than 70% of cotton in our country.

In response to the national target price reform policy pilot, the Xinjiang Autonomous Region government also set up a leading group of target price subsidies, which involves our development and Reform Commission, supply and marketing cooperatives, Technical Supervision Bureau, Taxation Bureau, industry and Commerce Bureau, and has issued many direct subsidy rules, which re issued qualification for cotton processing enterprises.

Up to now, 700 cotton processing enterprises in Xinjiang have been qualified, and 37 professional warehouses have been issued qualifications.

Our cotton industry in Xinjiang can serve as a reserve base for the cotton futures market of Zhengzhou commodity exchange. However, there are many unfavorable factors that Xinjiang is showing. One is that Xinjiang's sales area from the mainland is about 3000 to 5000 kilometers. Textile enterprises are also very worried about the issue of Xinjiang's delivery and pportation.

The 18 futures delivery warehouses of Zheng Shang are in the mainland. Xinjiang's cotton output has been 4 million 800 thousand tons this year. Now it is also a buyer's market. Many experts have said that the difficulty of selling cotton this year is not easy to break.

If we can adopt hedging in futures, it is also a very good way of selling.

The output of cotton in Xinjiang is so large that there are only about 50 enterprises in Xinjiang directly involved in the futures market, and there are no more than 60 enterprises, and its trading volume is between 3 and 50 thousand tons. The volume of trading of each futures is between 4000 tons and 5000 tons. I think this amount is really poor, and it should be said that the output of cotton is not matched with cotton production.

Seriously restricting the development of cotton futures of Xinjiang enterprises in commodity exchanges. If the newly established cotton futures pfer will fundamentally solve the problem of Xinjiang cotton futures forming warehouse receipts including pportation, the Zhengzhou commodity exchange will substantially increase the number of new cotton enterprises participating in the futures market and expand the number and amount of futures warehouse receipts, and activating the upstream and downstream markets will become a reality.

In recent years, the Zhengzhou Mercantile Exchange has gone to Xinjiang many times, including the leadership of the SFC to Xinjiang research, and the establishment of a cotton futures pfer Library in Xinjiang. The establishment of 3 to 5 cotton futures pshipment repository has been basically established in Xinjiang. I learned from the specific department of Zhengjiao exchange that 3 of the Xinjiang have set up a futures pfer bank to report to the SFC, and once again thank our Zhengzhou exchange.

It can be said that after the establishment of a futures pfer warehouse in Xinjiang, Xinjiang can generate more than 500 thousand tons of cotton futures and sell cotton, and form a futures pfer warehouse in Xinjiang. The Xinjiang futures pfer warehouse can form more than 500 thousand tons of futures warehouse and single cotton pportation. I guarantee that 30 to 40 days Xinjiang's pfer warehouse can be pported to the futures delivery warehouse for delivery.

When Zheng went to Xinjiang to investigate, she said that when establishing a futures pfer warehouse in Xinjiang, Xinjiang's cotton related enterprises were very excited because they solved two major problems: one was to set up a futures pfer warehouse in Xinjiang, and the other reason for the shortage of Xinjiang futures warehouse receipts was to fear that the goods would go to the ground to die. They were worried that the quality of the goods returned to the inner land would be rechecked and the quality failed to quit.

Forming a futures pfer center in Xinjiang can be said to form a seamless alignment with our mainland delivery repository. For example, our new cotton group's pit library and Zhengzhou 432 warehouse will turn cotton into a pfer warehouse to form a pfer warehouse receipt, which improves the efficiency and improves the delivery speed.

In particular, the Xinjiang agricultural material group has a one-time static storage which can reach 700 thousand tons of pit stock. Moreover, we set up a one-time static storage in Yancheng, Jiangsu, which can reach 300 thousand tons of pit stock. This library is built by our own enterprises. This kind of situation is still the only one in the country. In Xinjiang, there are warehouses in the mainland. The two libraries have already been reported by the Zhengjiao exchange. As an aid project for the Zhengjiao exchange, we also promise Xinjiang that this library will serve as a pit repository, and that it will serve as a delivery repository in the Yancheng library.

After Xinjiang cotton enterprises formed warehouse receipts in Xinjiang new town, they avoided many kinds of risks of Xinjiang futures cotton. At the same time, they enjoyed the pportation subsidy of 500 yuan per ton and 200 yuan of Xinjiang futures warehouse cotton.

Finally, take this opportunity to hope that the Zhengzhou exchange will be there as soon as possible.

The establishment of a futures pfer warehouse will lay a solid and effective foundation for the development of Zhengshang and Xinjiang's cotton industry, and also provide a better trading environment for the participation of new cotton futures traders. Finally, we also wish the cotton yarn products will be listed in Zhengshang as soon as possible.