Shanghai International Cotton Trading Center Accepts Imported Cotton And Cotton Yarn For Online Trading

Shanghai international, one of the first 8 spot markets for bulk commodities in FTA

The trading center recently passed the opening inspection and signed a strategic cooperation agreement with 10 banks with a total credit amounting to 20 billion yuan.

With the help of the innovation of the FTA system, the trading center will promote the online trading of China's imported cotton yarn and attract financial capital support.

As the sole trading platform for cotton, textile raw materials and textiles in the Shanghai free trade pilot area, the trading center is also the only international import and export trade of cotton and textiles.

First, bonded cotton and cotton yarn should be traded and settled.

Its initiating shareholder, Shanghai Textile Group, is located in China.

Tong Jisheng, the fifth chairman of the industry, said he will seize the "top 100".

"Building opportunities, giving full play to the core strengths of trading centers, and mobilizing the enthusiasm of enterprises to participate in international trade and re export trade.

Statistics show that in the first half of this year, China imported more than 930 thousand tons of cotton.

Qiu Jianhua, general manager of the trading center, said that the value of cotton and cotton yarn trading is relatively large. There is no third party participation in traditional trade, and there is no small risk.

The trading center will shift the spot paction of cotton cotton yarn from the offline to the online. At the same time, the introduction of the third party clearing and warehouse receipt publicity system will not only help protect the safety of the capital and goods, but also improve the efficiency of the paction.

In the future, we will make full use of the latest Internet and Internet of things technology, and jointly publicized Shanghai's clearing and free trade area commodity warehouse receipt publicity platform to effectively protect the safety of funds and goods in pactions. The trading center will gradually unite banks and other financial institutions to launch warehouse receipt pledge and order financing services. At the same time, we will explore the pilot projects such as linkage and spot options in a timely manner to serve the real economy and further enhance the global position of "China's price".