Recently, The Shanghai International Cotton Trading Center Was Officially Opened.

Recently, Shanghai International

The trading center is officially open.

As the first batch of 8 Shanghai FTA

One of the spot markets, the completion and operation of the center will not only help protect the safety of capital and goods, but also improve the efficiency of pactions, mobilize the enthusiasm of enterprises to participate in international trade and re export trade, and further enhance the global position of "China's price".

Chinese style

The Shanghai international cotton trading center was formally approved in February 2nd last year, and it was opened in August 14th of the same year.

The first registered capital of the trading center is RMB one hundred million yuan, and the initiating shareholder is a wholly owned subsidiary of Shanghai Textile Group Shanghai Textile Group Investment Co., Ltd. (share 99%) and Shanghai.

Cci Capital Ltd (1%).

In the future, capital stock will be further expanded to RMB two hundred million yuan.

Chinese style

The Shanghai International Cotton Exchange Center is the only trading platform for cotton, textile raw materials and textiles in the Shanghai free trade area. It is also the only international e-commerce platform for importing cotton and textile products in China.

Tong Jisheng, the chairman of the Shanghai Textile Group, said that it would seize the opportunity of "one belt and one road" and give play to the core strengths of the trading center and mobilize the enthusiasm of enterprises to participate in international trade and re export trade.

Chinese style

Statistics show that in the first half of last 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 pactions is large, and there is no third party participation in traditional trade, and there is no small risk.

The paction center pfers the spot paction of cotton and cotton yarn from the offline to the online. At the same time, the introduction of the third party clearing and warehouse receipt publicity system is not only conducive to ensuring the safety of funds and goods, but also improving paction efficiency.

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 ensure the safety of funds and goods in pactions.

The trading center will also gradually unite banks and other financial institutions to launch warehouse receipt pledge, order financing and other services. At the same time, it will also explore timely pilot phase linkage, spot options and other pilot projects to serve the real economy and further enhance the global position of "China price".

Chinese style

It is reported that after the opening of the center, it will interact and cooperate with domestic and foreign peers and related exchanges to expand the price coordination of China's textile raw materials in Asia, Africa and Europe and the United States. It will join hands with the Xinjiang production and Construction Corps, Louis Da Fu and other domestic and foreign cotton and cotton giants to promote market and international operation.

Relying on the Shanghai free trade area and facing the global market, we will deepen the integration of Finance and industry through the Internet. The trading center will strive to become a leading and influential international commodity trading platform.

Prior to the opening of the business, the centre signed a strategic cooperation agreement with 10 banks, amounting to 20 billion yuan.

With the innovation of the free trade zone system, the trading center will promote online trading of cotton and cotton yarn imported from China and attract financial capital support.