2016 The Announcement Of The Announcement Of The Cotton Reserve Will Be Launched In May.

People's Republic of China national development and Reform Commission

Ministry of finance of People's Republic of China

Notice

No. ninth 2016

With the approval of the State Council, the national development and Reform Commission and the Ministry of Finance decided to gradually digest the country from this year.

Inventory should be adjusted to a reasonable level.

The relevant matters are hereby announced as follows:

1. General idea of cotton storage digestion

The digestion of national cotton reserves is carried out in accordance with the "asymmetric rotation, the first round and the rear wheels, and multiple rounds of rounds and rounds". The following four principles are followed:

First, it is conducive to the sustained and healthy development of the industry.

Overall consideration of domestic cotton planting and

We should develop and handle the relationship between stabilizing cotton production and digestion cotton reserves, expanding the demand for textile cotton and promoting industrial pformation and upgrading, so as to promote the coordinated development of cotton production, circulation and processing.

Two is conducive to guiding the smooth operation of the market.

The digestibility of reserve cotton should follow the law of the market, and the wheel will keep normalization and mechanism, and the wheel will go along with the market, stabilize the market expectation and facilitate the enterprise to plan the production and operation in advance.

Three, it is conducive to reducing the financial burden.

As many rounds as possible, we should do a good job in the digestion of stored cotton, improve the operation mode, improve work efficiency, and reduce financial expenditure as far as possible.

Four, it is conducive to improving the cotton reserve regulation mechanism.

Timely sum up experience, perfect and dynamic, standardized.

We should standardize the reserve management and improve the efficiency of reserve regulation.

Two. Arrangements for the delivery of cotton reserves.

(1) the way out.

The reserve cotton rotation is passed in principle throughout the country.

The trading market will be sold on the open auction. If necessary, the country will increase other designated trading platforms to carry out the reserve cotton trade.

(two) turn out time.

In principle, every year from March to August, the national statutory working day will arrange for the sale of reserve cotton for sale.

From September to February, new cotton will be suspended during the listing period.

(three) number of rounds.

Under normal circumstances, the daily sale of cotton reserves does not exceed 50 thousand tons, and the specific number of rounds is based on actual pactions.

If the market price of domestic and foreign market has obviously increased rapidly for a period of time, the turnover rate of the auction sale of reserve cotton will exceed three days or more than 70% days a week, and the number of sales will be increased appropriately.

Cotton with long storage time is preferred.

(four) round out price.

The reserve price of cotton reserves is determined according to market dynamics. In principle, the selling price is linked to the spot price of cotton at home and abroad. The cotton spot price index in the domestic market and the cotton spot price index in the international market are determined by 50% weight, adjusted once a week (the specific formula is attached).

(five) notarization inspection.

The reserve cotton for rotation is organized by the China Fiber Inspection Bureau to conduct a comprehensive notarization of quality and weight.

Three. Arrangements for storing cotton wheels.

In order to optimize the quality structure of reserve cotton, a small amount of cotton was pferred into high quality cotton after the storage of cotton.

The turn in time was concentrated on the new cotton market (from September to February of next year).

According to the actual situation of cotton reserves in the previous year and the supply and demand situation of cotton market in the year, the number of round trips will not exceed 30% of the actual output in the previous year.

If the market is tight after the listing of new cotton, there will be no arrangement for the storage of cotton.

Turn in the price, follow the market.

The specific arrangements will be announced later.

Four. Arrangements for the rotation of cotton reserves in 2015/2016

In order to allow some space for the sale of cotton in the market, and to achieve a smooth and orderly pition to the new mechanism, we should follow the relevant arrangements mentioned above, and make the following detailed provisions on the number of rounds and the number of rounds coming out in 2015/2016.

(1) the rotation began in May.

The specific rotation time is the national statutory working day of August 31st May 3, 2016 -2016.

(two) gross output does not exceed 2 million tons.

In principle, the number of daily sales is not more than 30 thousand tons, giving priority to arranging imported cotton wheels.

Five. Other provisions

(1) in order to do a good job in the storage of cotton, the China cotton reserve management corporation, the national cotton trading market and the China Fiber Inspection Bureau will formulate relevant implementation rules for the storage of cotton, the auction, the notarization test and so on, and will publish them through their respective official website and the national cotton trading market website.

(two) in the process of cotton storage digestion, if the domestic and foreign cotton market has undergone significant changes, the national development and Reform Commission and the Ministry of finance will make appropriate adjustments and improvements to the cotton related digestion arrangements according to the spirit of the State Council, and will be announced later.

Notice hereby.

National Development and Reform Commission

Treasury Department

April 15, 2016