Zibo Huaxing Additives Co., Ltd.

Oil and chemical market system has become an important aspect of the healthy development of China's petrochemical industry, China's petrochemical market system urgently to guide and regulate. "This is the April 24, held in Shanghai, China Petroleum and Chemical Industry Association, Li Yongwu Fourth China Petroleum and Chemical Industry Development International Forum 2008 China Petroleum and Chemical Market System Development Forum that.
Yuan Xiaowen of Peking University, China's financial derivatives training, vice president of China is the major producing countries and consuming countries of the world's petrochemical products in the international arena without a corresponding price of the right to speak, with the construction of China's petrochemical market system is imperfect, petrochemical product transactions to stock-based electronic commodities trading, futures trading system is imperfect, are closely related.
Currently, futures markets, electronic commodities trading market is gradually become a new force of petrochemical products market, provide an effective means for the petrochemical and downstream operational risks, and found the price of petrochemical products and the formation of price indices, play an increasingly more important role. According to statistics, the domestic petrochemical market there are hundreds, more than 500 million yuan in 2007 turnover of spot petrochemical professional total market turnover has exceeded 200 billion yuan by the end of 2007, the country has been established and carried out the trading of third-party oil and Chemical e-commerce platform companies has reached more than 20, the cumulative trading volume reached 30 million tons, amounting to more than 250 billion yuan.
Li Wu also pointed out that China's petrochemical market size is too small overall, only 5% of the total industry-wide product sales income of 19 more than 500 million yuan turnover of spot market turnover, lack of market radiation, trading and market system can not adapt to the rapid development of oil and chemical industry development needs.
The State Council Development Research Center, director of the Institute of Market Economy Ren Xingzhou electronic commodities trading market there is a regulatory body is not very clear, the regulatory system is not perfect. Some trading market in the construction of blind comparisons the development of trading rules blindly copy, the collection of the phenomenon of lower-margin, so that some of the market at a greater risk, affecting the normal development of the class petrochemical market. At present, the Commerce Department are related management practices developed for such commodities market.
Li Wu said, China Petroleum and Chemical Industry Association has decided to set up the Preparatory Working Committee of the China Petroleum and Chemical Industry Association, Market Co-ordinating Committee. Ren Xingzhou think is very necessary to set up such a committee, which will be conducive to the relevant government regulations and policies, help set up a communication platform between government regulators and market traders, will help guide China's petrochemical a healthy market development.