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On September 2, Dalian Commodity Exchange (hereinafter referred to as "DCE") and Jinfa Technology Co., Ltd. held the "Opening ceremony of DCE Jinfa Technology Industry Cultivation Base and the opening ceremony of China Chemical Industry Business Leaders Training Class" in Guangzhou. Since the start of the construction of the industrial cultivation base this year, the first batch of 11 enterprises have signed the cultivation base cooperation agreement, and the first batch of cultivation work has been completed according to its own business characteristics and positioning. Some cultivation bases fully learn from the EDP training mode of colleges and universities, carry out continuous multi-period and in-depth market training, and achieve good results.
On September 2, Dalian Commodity Exchange (hereinafter referred to as "DCE") and Jinfa Technology Co., LTD. (hereinafter referred to as "Jinfa Technology") held the "unveiling ceremony of DCE Jinfa Technology Industry Cultivation Base and the opening ceremony of the China Chemical Industry Business Leaders Training Class" in Guangzhou. Since the start of the construction of the industrial cultivation base this year, the first batch of 11 enterprises have signed the cultivation base cooperation agreement, and the first batch of cultivation work has been completed according to its own business characteristics and positioning. Some cultivation bases fully learn from the EDP training mode of colleges and universities, carry out continuous multi-period and in-depth market training, and achieve good results.
We will deepen services for market cultivation
According to reports, the "China Chemical Industry Business Leaders First Workshop" is committed to building a high-end training and exchange platform for the national petrochemical industry, training students from nearly 60 key enterprises in China's petrochemical industry chain, including more than 20 trading enterprises with annual sales of more than 5 billion, and 18 listed companies. These petrochemical companies represent two-thirds of the country's apparent consumption. This workshop will continue to hold seven training sessions in the next three and a half months, inviting more than 10 experts in the petrochemical industry and financial fields to systematically and comprehensively teach petrochemical derivatives knowledge and market participation and utilization models.
Wang Fenghai, general manager of the University of Commerce, said that the construction of the industrial cultivation base is an innovative measure for the University to adapt to the new requirements of market innovative business development and industrial enterprise cultivation services and deepen the industrial enterprise cultivation service model. In the past year, DCE has relied on futures companies and local industrial institutions to build industrial cultivation bases in the concentrated areas of production and marketing of related varieties, so as to build a comprehensive cultivation service platform integrating industry talent training, enterprise cultivation and development, and market function promotion, forming a new situation of market cultivation service of "big hand holding small hand in time". In the next step, the Institute will thoroughly implement the spirit of the National Financial Work Conference, accelerate the listing of new petrochemical varieties, expand the field of industrial services, and do a good job of maintaining existing varieties, by improving the rule contract system, expand the scope of inspection free brand delivery, and further close to market demand. In addition, the exchange will continue to strengthen industrial services, through leading enterprises EDP training and off-exchange options, basic price and other business training and support, in-depth cultivation of the industry.
Petrochemical enterprises continue to expand the application of futures
Wang Fenghai introduced that since the listing of LLDPE, PVC and PP futures varieties, the market functions have been effectively played, and corporate customers have actively participated, providing a perfect hedge platform for the industry. First, the variety system is becoming more and more perfect. After ten years of development, Dashang has become the world's largest plastic futures market. In addition, the exchange is accelerating the promotion of ethylene glycol, urea futures varieties listed, will provide the market with a more perfect hedge chain. Second, the market continues to grow. In the first eight months of this year, the three futures markets have sufficient liquidity, which is convenient for industrial enterprises to use futures to transfer risks. Third, the market structure is continuously optimized, and industrial customers are actively involved. The three varieties of unit customer positions accounted for 10.09% of all varieties of unit customer positions, and unit customers gradually became the dominant force in the market. Fourth, the function is playing well, and the correlation coefficient of forward and current prices continues to remain at a high level. At the same time, the enterprise risk management mode has changed and upgraded, and enterprises' participation in the futures market has been enriched by pricing and risk management methods, such as the early futures quotation upgrading and expiration hedging, basis trading, point pricing and over-the-counter options.
Jinfa Technology not only has the Guangzhou PP, PE delivery warehouse designated by Dashang, Kunshan PP delivery warehouse, but also jointly initiated the establishment of the "Pan-Pearl River Delta Energy Club" with Dashang. Yuan Zhimin, chairman of the company, said that since 2013, the club has held 15 industrial training activities in many cities. The establishment of the base is another result of the deepening cooperation between the two sides. Jinfa Technology will rely on its own industrial foundation and advantages, fully support the work of the industrial cultivation base, cultivate high-level current talents in the futures industry, and lay a good foundation for the steady development of the chemical industry.
On behalf of the students, Zhu Beimei, general manager of the supply chain management Department of Foshan Fosu Technology, said that Fosu Technology has made certain achievements in the past 7 years of participating in futures hedging, but in the face of further changes in the future market supply and demand environment, enterprises need to closely follow the new concept of futures hedging and explore new ideas of futures hedging. "I benefited a lot from participating in this class. In the future, we will combine the new ideas of futures hedging with the actual situation of the company, and make due contributions to the long-term stable operation of the company. This is also the original intention of participating in the class." "She said.
"Through learning, I have a more systematic and comprehensive understanding of futures." This workshop provides a new platform for the exchange of colleagues. The students fully exchange their experiences, learn from each other and improve together, which lays a good foundation for in-depth exchanges and cooperation in work." Zhejiang tomorrow holding assistant general manager Shao Shiping said.
