China National Cotton Exchange
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China National Cotton Exchange, also known as the CNCE, was approved to set up by the State Council. As a normative and modern cotton exchange, CNCE is founded by All China Federation of Supply and Marketing Cooperatives, and it is a non-profit service organization. Its headquarters is in Beijing and there are some workstations in main cotton producing and marketing areas. Information is communicated within the CNCE system via computer network.

Following the principle of openness, fairness, equity, honesty and credit, CNCE is mainly involved in facilitating transaction, finding prices, avoiding risks and communicating information. Its main services include transaction settlement, delivery, quality inspection, warehousing and transportation, information, consulting, human resources development and so on. CNCE institutes membership system. To become a member of CNCE, the applicant must be a credit-worthy entity registered on the Chinese mainland and accepts CNCE rules, it could be a cotton dealer, a textile enterprise, an import and export cotton enterprise as well as any other type of enterprises which are willing to provide intermediary services in cotton trading.

More than two millions tons state stock cotton and imported & exported cotton has been exchanged by the auction of China National Cotton Exchange from later half of 1999 to the end of 2000. CNCE daily exchange price has been the quotation of current China cotton supply and demand. Through regulating the supply-demand situation and price of cotton on the CNCE, the State provides effective guidance for the production, circulation and consumption of cotton in China. CNCE will undertake e-business trade in the future, and set up high-efficient serial process of cotton circulation system and cotton classification system. CNCE welcomes oversea cotton entities to become members after China's entry into WTO. CNCE will focus on internal and international cotton supply, demand and price information. It will be the bridge to link China domestic market with international cotton market, and adapt China cotton production & consumption to the demand of internal and international market.

It's a symbol that China cotton circulation system transforms from the planning economy system to marketing economy system. It's believed CNCE will be more and more great, and has more and more important influence on international cotton market.