Cotton yarn futures will become the authoritative price benchmark in the cotton textile industry

On August 18, Zhengzhou Commodity Exchange held a press conference on the listing of cotton yarn futures. Zhu Beina, President of China Cotton Textile Industry Association, delivered a speech at the press conference.　　 Zhu Beina, president of the China Cotton Textile Industry Association, said that the listing of cotton yarn futures is a major event for the cotton textile industry, and cotton yarn futures will become the authoritative price benchmark for the cotton textile industry. In addition, she also pointed out that the listing of cotton yarn futures will have three positive impacts on the industry. One is to improve the stability of the cotton textile industry; the other is to stabilize the order of the industry; and the third is to increase the degree of openness of cotton textile enterprises.　　The following is the full text of the speech: 　　Hello everyone! I am very happy to communicate with you all here.　　The listing of cotton yarn futures is a major event for the cotton textile industry. On behalf of the association, I would like to express my sincere congratulations on the listing of cotton yarn futures! The listing of cotton yarn futures coincides with the timing, which is an inevitable product of the development of my country's market economy and cotton spinning industry to a certain extent. On the one hand, the textile industry needs tools for price discovery. Under the guidance of the Chinese government's overall industrial policy of 'three removals, one reduction and one supplementOn the other hand, the textile industry needs channels to manage risks. At present, the operational risk capability of textile enterprises is gradually improving. It is necessary to have reasonable risk avoidance tools to help textile enterprises achieve stable operations and assist the stable development of the industry. Therefore, the listing of cotton yarn futures meets the inherent needs of the development of the textile industry. Many textile industries welcome the listing of cotton yarn futures, hoping that cotton yarn futures can inject fresh blood into the development of the textile industry.　　 We hope that the listing of cotton yarn futures will have a positive impact on the industry, and the cotton textile industry will be more stable, orderly and open.　　 One is to improve the operational stability of the cotton textile industry. The number of employees in the cotton textile industry has reached more than 2 million. The operation of textile enterprises is related to local employment, economic development and social stability. Therefore, it is hoped that cotton yarn futures will provide cotton textile enterprises with excellent risk management tools, while stabilizing the operation of textile enterprises and increasing employment opportunities.　　 The second is to stabilize the operating order of the industry. After the cotton yarn futures are listed, it can establish an effective price benchmark for the cotton textile industry and increase the space for the efficiency of capacity utilization. It can also provide cotton textile enterprises with forward prices as far as one year, which can efficiently reflect future market supply and demand changes, help enterprises arrange production rationally, and stabilize industry investment and operation order.　　 The third is to increase the openness of cotton textile enterprises. Cotton yarn futures can increase the degree of openness of the cotton textile industry on two levels: on the one hand, expand opening to the outside world and help the implementation of the 'Belt and Road' initiative. After the cotton yarn futures are listed and run steadily, the Association can cooperate with ZCE to study the introduction of imported cotton yarn delivery mechanisms to improve the internationalization and international influence of my country's cotton yarn futures market. On the other hand, increasing the degree of industry openness and stimulating capital investment are conducive to attracting social funds to pay attention to the development of the cotton textile industry, allowing various departments to re-recognize the importance of sustainable development of the cotton textile industry, and help the cotton textile industry to develop rapidly and healthily.　　 I hope textile companies can make rational use of cotton yarn futures. In essence, the futures market is a market that serves the real economy, and its role is to discover prices and manage risks. In the process of participating in cotton yarn futures, it is necessary to review the situation, make effective judgments, carefully analyze the market, and reduce investment risks. At the same time, I also hope that textile companies participating in the futures market must practice hard work, improve risk control, and make good use of futures tools. One is to correctly understand the futures market, starting from the management and learning futures knowledge. The second is to establish a professional team, cultivate futures talents, and form a mature trading and risk control mechanism. The third is to manage risks scientifically, strictly implement hedging strategies, and control speculative behavior. In the next step, we will carry out in-depth cooperation with Zhengzhou Commodity Exchange, do a good job in corporate training, and guide textile companies to participate in the futures market rationally.　　 Finally, I hope that the ZCE cotton yarn futures will be able to better function after the listing and serve the entity enterprises. Thank you! Article Keywords: 　Cotton Yarn Futures Listed by Zhu Beina