National Cotton Yarn Trading Center Was Inaugurated In Urumqi

On the 18th, the unveiling ceremony of the national cotton yarn trading center was held in Urumqi, Xinjiang. The main leaders of the Party Committee of Xinjiang Uygur Autonomous Region, the People's Government of Xinjiang Uygur Autonomous Region, the Xinjiang Production and Construction Corps and the All China Federation of Supply and Marketing Cooperation unveiled the trading center. The National Development and Reform Commission of China, the Ministry of Commerce of China Representatives of famous enterprises led by China Securities Regulatory Commission and other national ministries and institutions attended the meeting.

On the 18th, the unveiling ceremony of the national cotton yarn trading center was held in Urumqi, Xinjiang. Photographed by La Xiaofei

Xinjiang is the most important cotton production base and high-quality cotton yarn production base in China. Relying on the cotton resource endowment and regional advantages, Xinjiang is accelerating to become a cluster highland of textile and clothing industry in western China. In 2022, the cotton planting area in Xinjiang will be 37.45 million mu, accounting for 83.2% of the total cotton planting area in China, and the cotton output will be 5.391 million tons, accounting for 90.2% of the total cotton output in China and 21% of the total cotton output in the world, respectively. The cotton machine picking rate has reached 85.6%. The total cotton output of Xinjiang has been stable at more than 5 million tons for five consecutive years, and the area, unit yield, total output and commodity transfer volume have ranked first in China for 29 consecutive years. The spinning scale of Xinjiang reached 22.15 million spindles, accounting for nearly 20% of China's spinning capacity.

It is understood that the newly established national cotton and cotton yarn trading center will provide cotton and cotton yarn product trading, industrial services and other value-added services, including spot listing transactions, spot unilateral bidding transactions, negotiated transactions and other businesses; In the future, we will study and carry out pre-sale capacity listing transactions, warehouse receipt transactions, bonded transactions of imported cotton and cotton yarn, etc. At the same time, actively explore the order trading mode, and cooperate with the existing futures trading market to carry out the research on the "spot+over-the-counter options" business model, so as to realize the joint development of futures and cash.

The head of the Xinjiang Cotton Industry Development Leading Group Office said that the establishment of a national cotton and cotton yarn trading center in Xinjiang would effectively guide market expectations, adjust the supply and demand of cotton and cotton yarn, promote the construction of Xinjiang's cotton quality and brand certification system, open up the production, processing, circulation, consumption and other links of cotton and cotton yarn, and smooth the flow of commerce, logistics, capital and information, Realize the close connection and coordinated development of all links of the industrial chain, and help Xinjiang speed up the construction of cotton, textile and clothing industrial clusters, and build a modern industrial system with international competitiveness.

The person in charge of the national cotton trading market of the All China Federation of Supply and Marketing Cooperation believes that the national cotton and cotton yarn trading center will integrate the spot trading resources of industry associations and backbone circulation production enterprises, strengthen the support of big data platform, establish the domestic cotton and cotton yarn spot price index, effectively prevent the excessive intervention of capital in the fluctuation of cotton commodity prices, and truly stabilize the market The function of convenient circulation.

(Source: China News Network)