With the gradual introduction of relevant policies and regulations of the Free Trade Zone, the non-ferrous metals industry will usher in new development opportunities.
According to the Securities Times reporter at the 2014 (2nd) China Nonferrous Metals Import and Export Shanghai Forum, the Shanghai International Metal Trading Center, which serves non-ferrous metals trading, is under construction in the Free Trade Zone and is expected to be completed this year. In addition, members of the London Metal Exchange (LME) will establish a certification warehouse in the region, and the industry expects a significant increase in the trade volume of non-ferrous metals in the future.
According to informed sources, since the establishment of the Free Trade Zone in September last year, there have been more than 6,000 new enterprises in the zone, and a large number of enterprises are awaiting approval.
Zhang Yuangang, president of the Shanghai Chamber of Commerce and Industry of the Internet of Things, introduced the contents of the commodity trading in the free trade zone. It is reported that the Shanghai Federation of Industry and Commerce Federation of Internet of Things Industry Chamber of Commerce and the Non-ferrous Metals Trade Chamber of Commerce have jointly initiated research on the status of online trading of bulk commodities. The survey has concentrated on international and domestic sellers, international and domestic purchases through interviews, interviews, and seminars. Opinions and suggestions from relevant stakeholders in homes, foreign trade companies, finance, bonded warehouses, ports, terminals, etc. The relevant units are actively preparing for the establishment of the Shanghai International Metal Trading Center.
Ding Wei, senior project manager of Shanghai Free Trade Zone United Development Co., Ltd., focused on interpreting the free trade zone policy that is highly correlated with the non-ferrous industry. "In terms of trade supervision, customs supervision according to the actual state of the goods will bring great convenience to the trade process. The free trade zone will achieve a real first-line liberalization, and enterprises can enjoy an open dividend through the two-way fund pool business and free trade accounts."
Free trade accounts have an offshore nature, and the transfer of onshore accounts is subject to the “3+x” rule. According to the relevant opinions issued by the central bank, the residents' free trade accounts of the same non-financial institution and other bank settlement accounts can transfer funds due to the current business, repayment of loans, industrial investment and other cross-border transactions that meet the requirements. . "As for" other cross-border transactions that meet the requirements, "that is, the identification of x, is basically decentralized to the major banks." People familiar with the matter said.
Gu Yin, vice president of Baiyin Resources (Shanghai) Co., Ltd. believes that the establishment of a commodity trading platform without trade zones can provide buyers with safe, reliable and sufficient real sources of supply; provide sellers with safe and reliable, fast-paying demand; The regulatory agency provides complete and truthful information that can be traced back to sources of supply, funds, traders, taxation, etc.; provides the bank with real information on the customer's trade processes, facilitates banks to carry out innovative business, optimize services, and strengthen risk management; to the government (free trade zone) Supported by large state-owned enterprises, the establishment of bulk commodity reservoirs, the promotion of bulk commodity health transactions, and the formation of a replicable mature model, copied to other product industries.
In addition, the commodity trading platform can also provide a number of derivative functions: to carry out regional and overseas financing through the real source of the trading platform; to realize the domestic market bonded delivery function through the trading platform; to realize the equivalent of the overseas market delivery function through the trading platform; Realize domestic and overseas value-added trading functions.
The Shanghai Futures Exchange also said at the forum that since the CSRC agreed to prepare for the construction of Shanghai International Energy Trading Center Co., Ltd. in the previous free trade zone, the crude oil bonded delivery model was used as a reference in the previous period to actively study the opening of non-ferrous metal varieties. Efforts to promote the internationalization of the non-ferrous metal futures market. In order to promote the development of the domestic non-ferrous metal market, the previous period is actively preparing for the listing of non-ferrous metal index futures. At the same time, in order to improve the domestic non-ferrous metal futures trading varieties, the previous period is also a feasibility study on the listing of nickel and tin.
At present, relevant policy rules are still being introduced one after another. Many non-ferrous companies are very concerned about the opportunities of the FTA policy in cross-border financing.
"Last year, the SAFE had two articles that had a great impact on the non-ferrous trade financing business, especially the re-export. In the past, we set up a subsidiary in Hong Kong. In the future, it will be convenient to operate through the free trade zone." The company of the copper business said. At the meeting, some companies in the zone disclosed that they had successfully obtained overseas loans, and the interest rate was lower than that of the domestic market.
(Article source: Securities Times)