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Qingdao boosts intl bulk commodity trading

(chinadaily.com.cn) | 2021-06-10

The 2021 China (Shandong) International Bulk Commodity Exchange and Cooperation Conference was held on June 9 in the eastern coastal hub of Qingdao, Shandong province.

The conference, hosted by the Shandong Provincial Department of Commerce and the Qingdao municipal government, is aimed at discussing hot topics in commodity trade, trading and digital financial empowerment, promoting global cooperation, and helping stabilize prices and supply of domestic commodities.

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The Shandong International Bulk Commodity Trading Market is launched on June 9. [Photo/WeChat account: qdfbwx]

The event will serve as a platform to share the value-added benefits of supply chain optimization, promote the "dual circulation" development paradigm, and realize the agglomeration and development of trade. It will also attract the participation of countries and regions involved in the Belt and Road and boost the institutional innovation of the pilot free trade zones, said the conference organizers.

According to Shandong officials, the Qingdao Area of China (Shandong) Free Trade Pilot Zone has the second largest foreign trade port in China and is an important transit base for iron ore, crude oil, rubber, cotton and other bulk commodities in the country.

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The Shandong International Bulk Commodity Trading Market [Photo/WeChat account: qdfbwx]

The Shandong International Bulk Commodity Trading Market was launched during the conference. It is a comprehensive platform integrating bulk commodity spot trading, settlement, supply chain finance and other services, and has online trading, online payment, logistics management, market analysis and other functions. The platform mainly provides cotton, rubber and other international bulk commodity trading services.

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The Qingdao Area of China (Shandong) Free Trade Pilot Zone [Photo/WeChat account: qdfbwx]