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Dalian Commodity Exchange (DCE) held the Signing Ceremony of Industry & Finance Cultivation Bases on March 13, 2019, to sign the cooperation framework agreement with the 2nd batch of 11 newly-approved bases. The Industry & Finance Cultivation Service Forum was held afterwards. A total of 33 representatives from 19 old and new bases were present to talk about the industry service of the futures market and the market cultivation and have in-depth discussion on how to optimize the construction and operation of the industry and finance bases and how to arouse the market vitality and achieve the coordinated development through better displaying the demonstrative role of the bases.
DCE CEO Wang Fenghai said in the speech that DCE has made innovation in the work concept of market service and set up a multilevel training system for industry enterprises with a view to give full play to the unique roles of typical enterprises in industry cultivation. In recent two years, leading enterprises have carried out active cooperation in terms of the industry and finance cultivation service, made an array of outstanding achievements, given play to the leading and exemplary roles of large enterprises and promoted the deep integration of the futures market and the real economy. He stressed that DCE would continue to develop the Industry & Finance Cultivation Bases in the following 3 aspects. First, it would upgrade from the single-dimension industry cultivation to the multi-dimensional industry-and-finance-integrated cultivation by including banks into the bases and displaying the finance function of the industry chain. Second, it would continue to intensify enterprises’ cultivation function to guide a group of industry clients to take part in the futures market with leading enterprises as the pivot and basis trading, over-the-counter options and other instruments as the breakthrough points. Third, it would focus the efforts on building the industry & finance base brand of DCE and further boost its influence. DCE Vice President Zhu Lihong, on behalf of DCE, signed the contracts with the enterprise representatives of the 9 Industry & Finance bases.
DCE approved the 1st batch of 11 bases in April, 2017. Over the past two years, 11 bases carried out 34 cultivation activities for a total of 2,269 enterprise times and 3,265 trainee times. The trainees were mainly senior managers and business backbone in the industries. The activities were all organized by the in-base enterprises, which were also in charge of inviting lecturers, and focused on promoting models instead of expounding knowledge.
Connotation of Cultivation Bases Extended from “Industry” to “Industry & Finance”
It has been noticed that among the 9 newly-signed bases, 7 are industry companies and 2 are banks: China Construction Bank and China Minsheng Bank.
A DCE staff introduced that financial institutions such as banks raised the expectation of being included in the bases since the pilot of industry bases in 2017. They hoped to give better play to the role of financial institutions, as their had advantages including the greater stickiness to the enterprises that opened accounts and received the financing services and the superiority in cultivation venues. Therefore, DCE changed the Industry Cultivation Bases into the Industry & Finance Cultivation Bases according to the market appeals and included commercial banks into the bases. “The change from the Industry Cultivation Bases into the Industry & Finance Cultivation Bases is not only a name change but also an enrichment and improvement of its connotation and extension.” said Wang Fenghai.
Bright Prospect for Industry & Finance Cultivation: An All-Win Situation
Representatives said that a fundamental recognition on futures has been formed among each industry over the past two years’ operation of the Industry Cultivation Bases. Many enterprises attempted to make use of futures, and some have acted, and the agricultural products’ planting has been involved. In a word, the spot market operation principle has been widely popularized.
Wang Fenghai said in the concluding remark that DCE would continue to promote the construction of the Industry & Finance Bases, organize industry survey and exchange regularly and encourage leading enterprises to assist small enterprises, in a bid to form a coordinated development mode among enterprises, build a good ecology for the industry chain and better serve the real economy.
