subject: Zhejiang Will Promote The Development Of Physical And Virtual Leather - Leather, Solid - Leather [print this page] Dalian Commodity Exchange and the China Petroleum and Chemical Industry Association in October 2008 in Hangzhou, China, 19-21, co-hosted the 2008 International Conference of synthetic resin, and information futures as the meeting of the sole financial support network support unit of the General Assembly do the whole live. Following is Deputy Secretary-General John Chen, Zhejiang People's Government statement.
Recent years, Zhejiang provincial government to actively implement the scientific concept of development, so that the economy maintained steady and rapid growth of Zhejiang province to the good trend in the economy as a whole, both for manufacturing and other economic development entities to provide fertile ground , also including futures Market Economic development, including the formation of a virtual sound environment. The synthetic resin, Zhejiang Province, the development of related industries is the development of a virtual economy where a representative example. As in recent years, electronics, construction, Leather , Fine chemical industry, led to huge demand for petrochemical-related products to Zhejiang become the largest consumer of synthetic resin and plastics distribution center for one of the region, the average annual growth rate of plastic products, 23.4% yield in the nation for ten years second. Meanwhile, the synthetic resin products show series dedicated development trend of the plastic film, plastic leather, plastic processing machinery manufactured goods output ranking first among similar products, and formed a distribution of plastic raw materials, wholesale trade, information dissemination, product display, electronic Comprehensive business and other professional market of new plastics cluster. Booming plastics industry has become in many cities of Zhejiang's economic development highlights.
But in recent years, as global crude oil prices continue to rise, driven polyethylene, polypropylene and other chemical raw materials prices, so that the cost of petrochemical product increased substantially, to the plastics industry, production and operations related to an enormous pressure. Especially since the beginning of this year, oil and plastic raw materials prices have been skyrocketing, so many small and medium plastic processing Zhejiang enterprises are facing unprecedented pressure, a number of weak competitiveness of enterprises were forced to cut or stop production at the half-suspended state. Therefore, how well should the risk of raw material prices, particularly the use of modern financial instruments, risk of price fluctuations and maintain business stability, sustainable management, is worth a good study of a new topic.
We are very pleased to see the futures industry keen to capture this market demand, timely launch plastic futures, for other companies to provide an effective hedging tool for investors to provide new market opportunities. Dalian Commodity Exchange of plastics futures market over the past year, from the transaction amounted to 1.58 million in Zhejiang hand, turnover 113.9 billion yuan, accounting for 21.48% of the total, ranking first in the country. This not only shows from one side of the plastic stock industry of Zhejiang developed, but also that we have some of Zhejiang's enterprises and awareness of modern management theory, in the forefront of modern financial instruments. Since the establishment of futures markets, especially in the national, provincial and introduced a series of Policy Since Zhejiang futures show a good development. As of the end of August 2008, the province a total of 81 futures operators, of which 13 futures companies, futures sales department 68, the National Futures operators up to one of the provinces. By the end of August, the province Futures Proxy Exchange of about 8.5 trillion yuan, accounting for 17.67%. Active futures market in Zhejiang province's economic construction has become another highlight of the "landscape", not only for the stable development of Zhejiang economy has made a positive contribution of the capital market so that we face many challenges, both opportunities and challenges.
Complex economic situation facing the U.S. financial turmoil has affected the country, the current situation, how to make the Zhejiang leather, port heavy industry, chemical industry and other synthetic resin related industries will be further developed so that the use of futures-related business Hedging to achieve steady sustainable development is one before us, we will actively support the futures industry, including financial services, including the development, to economic development entities and virtual economic development and better integration to push the economy of Zhejiang province's construction.
