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The China Plastics Industry Conference 2019, co-sponsored by Dalian Commodity Exchange (DCE) and China Petroleum and Chemical Industry Federation (CPCIF), is held in Hangzhou on June 26. DCE CEO Wang Fenghai says in his speech that DCE will attach importance to the need of serving the high-quality development of the petrochemical industry, boost the financial supply-side structural reform, further enrich the instrument system of chemical products, enhance the opening-up level and the market operation quality, and provide petrochemical enterprises with more and better services.
Wang says that in particular, DCE will continue to optimize the stock supply and consolidate the results of strategic transformation. It will further strengthen and improve market operation management, keep optimizing the contract rules for petrochemical futures, accelerate the formulation of the registered brand system of LLDPE and PP delivery and the factory warehouse system of plastic products, and further optimize the over-the-counter businesses like commodity swaps, thus bringing more convenience for petrochemical enterprises to involve in the market.
Besides, DCE will continue to innovate the incremental supply and enrich the connotation of the diversified opening-up. DCE will, in accordance with the arrangement of the China Securities Regulatory Commission (CSRC), steadily roll out styrene and polished round-grained rice futures and research on liquefied petroleum gas (LPG) and container capacity futures products and speed up the construction of the five major sectors: agricultural products, petrochemicals, energy products, ferrous products and shipping products. In addition, it will actively promote the listing of PP and iron ore options, as well as the price swaps, basis contract and other structural futures products, with an aim of optimizing market instruments and products systems. On the basis of improving the domestic market construction, DCE will intensify the opening-up level and further enhance the international influence of the market; and it will actively interact with the international market to strengthen the overseas market cultivation and build the iron ore international pricing center to drive the opening-up of LLDPE, PP, No. 1 soybean, RBD palm olein and other products.
Moreover, DCE will continue to explore and improve the industry service modes and enhance the level of serving the real economy. It will support and guide industry enterprises to make effective use of the futures market, advance the corporate risk management plan related to the over-the-counter options, basis trading and other modes, and keep intensifying the industry clients cultivation service by relying on industry meetings, industry-finance training bases and other programs. And it will strengthen the cultivation of futures professionals through the Futures Institute, the appraisal of “Top 10 Futures Investment and Research Teams” and the Colleges (Universities) Futures Professional Cultivation Program, thus laying a solid foundation for the market development.
In the future, DCE will join hands with all relevant parties to build a standard, transparent, open, dynamic and resilient capital market, give full play to the market’s functions in resources allocation, asset pricing and risk defusing, and contribute to the high-quality development of the petrochemical industry.
