Bank Of China PTA Futures Internationalization Preheating And Silver Futures Business Promotion Held In Zhengzhou

On November 13th -14, Bank of China PTA (terephthalic acid, the largest raw material for producing polyester products), the international preheating and silver futures business promotion conference was held in Zhengzhou, and more than 160 representatives from 60 key PTA trading Futures Company participated.

This year, our country

Respond positively to the state

The policy of opening to the outside world has launched the international business of crude oil futures in Shanghai international energy exchange center, and launched the international business of iron ore futures on the Dalian commodity exchange, allowing foreign investors to invest directly.

After the internationalization of the PTA futures of the Zhengzhou Mercantile Exchange, it will be the third futures variety of China's opening up to the outside world.

It is the largest raw material for producing polyester products, and its main use is production.

Polyester bottle and polyester film are widely used in textile and garment industry, chemical fiber, light industry, electronics, construction and other fields. They are important links linking petrochemical industry and textile two pillar industries of the national economy, and are in the link between the preceding and the following in the industrial chain.

PTA futures is the largest chemical product variety in the domestic market, since 2006.

Listed pactions have been developed to date, and price discovery and hedging functions have been brought into full play.

China is the largest producer, consumer and importer of PTA in the world. PTA futures is also the only polyester product futures in the world. Opening up the internationalization process of PTA futures will further enhance the international representation of PTA futures and make China price play a bigger role in the global polyester industry chain.

In November 9th, the Bank of China successfully obtained the first overseas customer futures deposit guarantee bank qualification of Zheng Shang, marking the first time that the Bank of China has completed the preparatory work for the internationalization of PTA futures.

This conference is a pre market warm-up made before the official launch of PTA futures, so that participants can fully understand the policies of account management, fund settlement, guarantee deposit management, cross-border settlement, trade finance and so on, which are related to the internationalization of PTA futures, and provide support for PTA futures to successfully import foreign traders.

Next, the Bank of China will give full play to the advantages of the global network layout and the advantages of diversified institutions, and vigorously promote the internationalization of PTA futures with Zhengshang, member units and domestic and foreign investors, so as to better serve the real economy and jointly contribute to the promotion of RMB internationalization and accelerate the construction of "one belt and one road".