Cotton Yarn Futures Development And Cotton Futures Contract Rules Of Das Are Discussed.

< p > > a textile downstream business forum sponsored by China's "a target=" _blank "href=" //www.sjfzxm.com/ "textile" /a "Industrial Federation Circulation Association, the China Cotton Textile Industry Association, the China knitwear industry association and the China Household Textile Industry Association held in Beijing on July 22nd. More than 20 representatives of the relevant industry organization leaders and textile downstream enterprises attended the meeting, and discussed the cotton yarn futures development and the futures contract rules of the big business institute.

The introduction of cotton yarn futures, forming a fair market price and providing hedging tools has become the common aspiration of the downstream yarn consuming enterprises.

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< p > in February of this year, after the application of the yarn futures project was submitted to the SFC by DAC, it received the high attention and support from the China Textile Association and related enterprises. After that, DAC was closely working with the China Textile Corporation to carry out the research on the futures of cotton textile products. In July, the "yarn futures expert seminar" (Dalian) for yarn production and circulation enterprises was convened. The forum was mainly for the future knitted and home textile enterprises to seek advice on futures contract rules.

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< p > the representative of knitting and textile enterprises from Jiangsu, Shandong, Guangdong and Hongkong indicated that in the development of cotton yarn futures, we hope to fully consider the different needs of downstream consumer enterprises. At the same time, when the contract design is standardized, we can consider whether we can link different branches of cotton yarn and form a set of product system to meet the market demand characteristics of cotton yarn and enhance the effect of futures market in serving the real economy.

Some enterprises believe that the functions of the futures market are mainly price discovery and hedging. Enterprises do not always have to deliver goods through delivery, so the exchange selects representative products as the target of the paction.

In addition, when designing cotton yarn futures contracts, consideration should be given to whether the imported cotton yarn with increasing quantity should be covered.

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< p > the representatives of participating enterprises are also concerned about the quality standard and quality inspection of cotton yarn futures delivery.

Ye Jianchun, vice president of the China Cotton Textile Association, said that the design of cotton yarn futures quality standards should follow the principle of simplicity in Xunhua. Some of the current national standards need subjective determination, and the indicators that the ordinary enterprises do not pay much attention to can not be included. In the third party inspection, the cotton textile association will work closely with the big business institutes to conduct a comprehensive inspection of the equipment and inspection ability of all quality inspection institutions, and strictly control the third party quality inspection links so as to ensure fairness, impartiality and openness.

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Enterprises participating in the symposium hope that after the listing of cotton yarn futures, the exchange can prevent excessive speculation and ensure that the current price is integrated so that enterprises can participate actively and effectively. P

In this regard, Zhu Lihong, deputy general manager of DAC, said that the development of cotton yarn futures will give full consideration to the industrial needs, facilitate the participation of industrial customers, and form a pricing model based on industrial customers, so as to better serve the development of the industry.

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"P >" vice president of China Textile Federation Gao Yong said that the listing of cotton yarn futures can improve the marketization level of the textile industry, which is an inevitable trend. DQ has done a lot of work in cotton yarn futures research in a conscientious and responsible manner, and it is worth affirming.

At the same time, vice chairman Gao also made suggestions on the statistical data and the actual market data in subsequent research.

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< p > Yang Shibin, assistant to the president of China spinning Federation, thinks that in the follow-up development of cotton yarn futures, we should make an in-depth study on the development process of international cotton yarn futures and the standardization of cotton yarn.

Yang Zhaohua, President of Home Textile Association, thinks that the selection of cotton yarn futures and the design of quality standards are a systematic project. We should try to expand the participation of the industry and do all the work well, which is positive energy for the development of the industry.

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< p > Cotton Textile Association Zhu Bei Na said that the listed cotton yarn futures are the general trend. Next, the cotton textile association will assist the big business to carry out related work. For cotton varieties, ordinary enterprises are more likely to participate in the delivery, so the next step is to consider further seeking advice from small and medium-sized enterprises.

In a concluding speech, Xia Lingmin, vice president of China Textile Association, said that in view of the future of cotton yarn futures, we should thoroughly investigate and understand the needs and concerns of downstream consumer enterprises, and facilitate the participation of consumer enterprises from the perspective of healthy development of the industry so as to promote the development of the industry through the use of futures market price discovery and risk aversion.

He also hoped that the exchange and the Federation could continue to maintain active communication and in-depth cooperation to further promote related work.

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