Bureaus Exclusive

China Pan-Asia Commodities Trading Center established

By Li Yingqing and Zhang Xintong (China Daily Yunnan Bureau)
Updated: 2011-05-19 14:16

China Pan-Asia Commodities Trading Center and Pan-Asia Steel Exchanges were established On May 18.

In Yunnan, reserves of iron ore resources is 3.55 billion tons, which ranks the sixth in China and the reserves of manganese ore is 92.16 million tons, which ranks the fourth all around the nation.

In order to fully use of the location advantage of Kunming that opens to ASEAN (Association of Southeast Asia Nations) and expand the international market of steel, government set up this Kunming Pan-Asia Steel Exchange is to complete the system of steel transaction.

Kunming Pan-Asia Steel Exchange will provide logistics services, premises and facilities for steel spot, forward spot and forward e-contacts. This exchange also makes business rules for steel transaction, manages the steel market information and regulates the steel trading activities.

Kunming Pan Asia Steel Exchange erects a platform for steel trading, extends the industry chain of steel, moreover, the most significance is that it constructs an international steel market in the form of multi-commodity, multi-level and multi-mode, according to director-general of financial service of Yunnan provincial government Liu Guangxi.