On May 9, the Zhengzhou Commodity Exchange signed an agreement with 44 industrial enterprises in Zhengzhou, making them the first batch of "industrial bases" serving the real economy of the Zhengzhou Commodity Exchange.

　　It is understood that in order to further enhance the professional advantages of the Zhengzhou Commodity Exchange in serving industries and the real economy, and to guide industrial chain enterprises to use derivatives and related markets to promote the sustained and healthy development of the regional economy and enterprises, in February this year, the Zhengzhou Commodity Exchange issued a relevant announcement, targeting qualified industrial chain leading enterprises and risk management subsidiaries of futures companies and other relevant units to solicit "industrial base" cooperation units.

　　According to the "Implementation Measures for the Zhengzhou Commodity Exchange's Service to the Real Economy "Industrial Base" Activities", units that become "industrial bases" of the Zhengzhou Commodity Exchange will work with the Zhengzhou Commodity Exchange to carry out systematic market cultivation activities such as training, research, summarization of excellent cases, and publicity and promotion around related listed varieties, based on the principle of serving the real economy and targeting industrial enterprises.

　　After the launch of the "industrial base" solicitation activity, enterprises in related industries responded actively. In less than a month, a total of 167 qualified industrial enterprises submitted applications, including 100 involving agricultural product futures varieties of the Zhengzhou Commodity Exchange, 48 involving non-agricultural industrial futures varieties of the Zhengzhou Commodity Exchange, and 19 involving options and comprehensive business platforms of the Zhengzhou Commodity Exchange.

　　After review, the Zhengzhou Commodity Exchange finally selected 44 applicant units (21 agricultural products, 17 non-agricultural products, and 6 options and comprehensive business platforms), including China Cotton Group Co., Ltd., as the first batch of "industrial bases".

　　According to a relevant person in charge of the Zhengzhou Commodity Exchange, the selection of "industrial bases" was based on the principles of prioritizing industry leading enterprises; prioritizing enterprises located in industrial clusters; prioritizing enterprises that actively support and participate in the futures, options, and comprehensive business platforms of the Zhengzhou Commodity Exchange; and prioritizing enterprises with good publicity and promotion capabilities. These 44 enterprises have high influence and demonstration effects within the industrial chain, have strong industrial service capabilities, can provide rich upstream and downstream customer resources and high-quality teachers, and meet the relevant conditions for cooperation units of the Zhengzhou Commodity Exchange's "industrial base" activities.

　　The development of "industrial bases" is not only to disseminate futures knowledge and guide upstream and downstream enterprises in the relevant industrial chain to actively participate in futures market operations and market cultivation activities, but also to promote a "futures culture" of risk management, making industrial enterprises the main players and playing their respective demonstration roles in the industry, sharing good models, mechanisms, and experiences with upstream and downstream enterprises, and helping to solve problems encountered by upstream and downstream enterprises in participating in futures trading. We also hope that industrial chain enterprises will provide more support to the Zhengzhou Commodity Exchange in improving business rules and regulations, developing new products, understanding the market and industry-related situations, and jointly promoting the futures market to serve the real economy." said the relevant person in charge of the Zhengzhou Commodity Exchange.

　　Xu Ting'en, executive deputy general manager of China Cotton International Trading Co., Ltd., said at the signing ceremony that as one of the first participants in cotton futures, China Cotton has always regarded hedging as an important part of the company's business plan. "Adhering to the business philosophy of combining spot and futures trading is a solid guarantee for the stable development of the company's business. We also hope to take this opportunity of becoming an "industrial base" to work with the Zhengzhou Commodity Exchange to leverage our own advantages and characteristics to drive upstream and downstream enterprises to promote industrial upgrading and steady development, and to be a qualified "industrial base" serving the real economy." he said.

　　Xu Jie'en, deputy general manager of Zhejiang Yisheng Petrochemical Co., Ltd., said that from the listing of PTA futures to date, industrial enterprises have gone from not understanding and not participating to gradually understanding and participating, and then to being inseparable from their business operations today. This series of changes is the progress and development of the industry. With the continuous development and extension of the domestic polyester and PTA industrial chain, there are more expectations for richer product tools and a more internationalized market. This "industrial base" construction by the Zhengzhou Commodity Exchange can popularize more futures knowledge among industry enterprises, help enterprises learn more industry information, and better utilize futures tools.