On December 18, the establishment meeting of the Raw Material Industry Chain Branch of the China Cotton Textile Industry Association and the Cotton Textile Whole Industry Chain Summit Forum were successfully held in Zhengzhou, China. This conference was hosted by the China Cotton Textile Industry Association, undertaken by Henan Tongzhou Cotton Industry Co., Ltd., and received strong support from the Zhengzhou Commodity Exchange.

　　Since the beginning of the year, the COVID-19 pandemic has swept the globe, causing a significant impact on world economic trade, and the cotton textile industry has also undergone severe tests. At the same time, international unilateralism, trade protectionism, and anti-globalization trends have continued to emerge, making the external trade environment for cotton textiles and end products more complex. To strengthen market information exchange in the cotton textile industry chain, prepare for the further work of the branch, and enhance information communication and contact among member units, the China Cotton Textile Industry Association planned to hold a branch establishment meeting. At the same time, in order to stabilize industry development confidence, judge the direction of industry development, discuss industry coping strategies, and promote the industry's dual-circulation development, a cotton textile whole industry chain market situation analysis meeting was held concurrently. The theme of the meeting was "Opportunities and Challenges for Cotton Textiles in the Post-epidemic Era".

　　Those attending the conference included Dong Kuiyong, Vice President of the China Cotton Textile Industry Association; Ye Jianchun, Vice President of the China Cotton Textile Industry Association; Wei Gangmin, Chairman of Henan Tongzhou Cotton Industry Co., Ltd.; Liu Hongjun, Director of the Agricultural Products Department of the Zhengzhou Commodity Exchange; expert members nominated to serve as vice presidents and committee members of the Raw Material Industry Chain Branch; and representatives from the upstream and downstream industries of the cotton textile industry, totaling more than 100 people. The meeting was chaired by Guo Zhanjun, Deputy Secretary-General of the China Cotton Textile Industry Association.

　　01 Leaders' Speeches

　　Dong Kuiyong, Vice President of the China Cotton Textile Industry Association, said in his speech that the global supply chain is currently facing major adjustments, which are both challenges and opportunities. The textile industry urgently needs to integrate into the new development pattern, seize the opportunity window of China's early control of the epidemic, strategically grasp the new trends of regionalization, localization, diversification, and digital transformation of the supply chain, improve the modernization level of the industry chain, and improve the security level of the supply chain. Only by working together, removing bottlenecks, making up for shortcomings, and connecting the various links of production, distribution, circulation, and consumption can a higher-level dynamic balance of demand driving supply and supply creating demand be formed.

　　02 Establishment Ceremony of the Raw Material Industry Chain Branch of the China Cotton Textile Industry Association

　　At the establishment ceremony of the Raw Material Industry Chain Branch of the China Cotton Textile Industry Association, Wei Gangmin, Chairman of Henan Tongzhou Cotton Industry Co., Ltd., was nominated as chairman; 15 vice chairmen, 29 committee members, 1 secretary-general, 1 executive deputy secretary-general, and 1 deputy secretary-general were nominated. Xu Xiaoyuan, secretary-general, read out the "China Cotton Textile Industry Association Branch Management Measures" and the "Main Responsibilities of the Raw Material Industry Chain Branch".

　　According to the list of expert members of the branch, the conference held an appointment ceremony. Dong Kuiyong, Vice President of the China Cotton Textile Industry Association, presented the appointment certificate of the branch chairman to Wei Gangmin, Chairman of Henan Tongzhou Cotton Industry Co., Ltd. Chairman Wei presented appointment certificates to the vice chairmen, committee members, secretary-general, executive deputy secretary-general, and deputy secretary-general of the branch, and delivered a speech.

　　Chairman Wei first expressed his gratitude for the support and trust of the China Cotton Textile Industry Association, the Zhengzhou Commodity Exchange, and all the members of the branch, and emphasized the original intention and responsibility of the establishment of the Raw Material Industry Chain Branch. The branch will connect people through raw materials, and through close cooperation between upstream and downstream enterprises in the industry chain to build a value chain, manage the enterprise chain, connect the supply and demand chain, and open up the space chain, thereby enhancing their core competitiveness and contributing their due value to the healthy development of China's cotton textile industry. The Raw Material Industry Chain Branch should be built into a platform with mutual information sharing, win-win cooperation, valuable connotations, and market influence in the whole industry, benefiting both branch members and enterprises in the whole industry chain; it should stand from the perspective of the entire industry and the entire industry, and from the height of how to maintain the competitiveness of China's textile and garment industry in the global landscape, to advise and make suggestions to the association and relevant national departments.

　　The establishment ceremony entered the awarding stage. Chairman Wei awarded plaques to representatives of various branch regions. Liu Changxiong, general manager of Yutai Hua Company of Wuhan Yudahua Textile and Garment Group Co., Ltd., spoke as a regional representative, congratulating the establishment of the Raw Material Industry Chain Branch and expressing confidence in the branch's future important role in the industry and the industry.

　　03 Keynote Reports

　　Wu Qing, chief economist of China Orient Asset Management Co., Ltd., delivered a keynote report titled "From the Impact of the Epidemic to the Dual Re-recovery: Reviewing 2020 and Looking Forward to 2021." The report revolved around the two keywords "epidemic impact" and "dual re-recovery," reviewing the impact of the epidemic on the global economy, monetary and financial environment, Sino-US trade negotiations, and the outcome of the US election, and also analyzing factors such as vaccine development progress, the Biden administration's new policies, economic transformation, and the acceleration of industrial transfer from the mainland to ASEAN countries, pointing out that the future economic recovery is expected.

　　Ye Jianchun, Vice President of the China Cotton Textile Industry Association, delivered a keynote report titled "Operational Status and Outlook of China's Cotton Textile Industry." The report summarized the overall operation of the cotton textile industry in 2020 through multiple key indicators, and looked forward to the future development of the cotton textile industry from four aspects: production, foreign trade, raw materials, and investment.

　　Li Youyin, Chairman of Weishi Textile Co., Ltd., delivered a keynote report titled "Application Practice of Cotton Yarn Futures in Cotton Textile Enterprises." The report focused on hedging theory and hedging delivery cases, including warehouse receipt delivery, locking processing profits, futures-to-spot transactions, and options trading, and shared experience on futures trading.

　　04 Roundtable Forum

　　Focusing on the topic of "Development Trends of the Cotton Textile Industry Chain," the conference entered a roundtable forum session, hosted by Huang Hongyu, President of Henan Tongzhou Cotton Industry Co., Ltd. Members of the branch held heated discussions on topics such as the quality of cotton in the new year, the production and operation of cotton textile enterprises, the imported yarn market, and the future work of the branch.

　　The establishment of the Raw Material Industry Chain Branch is just a starting point. How to carry out work in the future and how to better serve everyone requires the collective wisdom and efforts of all members.

　　Finally, congratulations on the successful conclusion of the Cotton Textile Industry Chain Summit Forum, and we wish the Raw Material Industry Chain Branch to flourish and make constant progress under the leadership of the China Cotton Textile Industry Association and with the joint efforts of the branch members!