CSRC Vice Chairman Yao Gang Listens to Work Report on TME
Updated:2015-01-20 From: Views: 2303
On 19 January 2015, Yao Gang, vice chairman of China Securities Regulatory Commission (CSRC) listened to a work report on TianFu Mercantile Exchange (TME) during his stay in Chengdu for attending a work conference on policy implementation and supervision for alleviating enterprises’ higher cost in financing and providing a financial support for agricultural and small enterprises.
Chairman Liu reported Vice Chairman Yao on TME’s function: a transaction platform for spot bulk commodity, and a settlement platform for OTC derivatives of bulk commodity as well.
Apart from that, Chairman Liu also reported Vice Chairman Yao on TME’s performance over the year, which includes: a special report on TME’s integration of V-Ti resources in Panzhihua area in the name of newly established Panzhihua Vanadium & Titanium Trading Center, to help related vanadium and titanium producers or manufacturers reduce logistics costs and promote sales of their products ; a special report on TME’s utilization of capacity pre-sale function for its China International Timber Exchange to bring about a direct transaction among timber importers, end-users in China, and the corresponding exporters in Russia and North America, to facilitate and reduce circulation of imported timber; a special report on TME’s ongoing research and design for egg product, to serve it as an item docking futures commodity with spot one.
Wang Xian, deputy director of Marketing Department and Xiong Jun, deputy director of Futures Department, both from CSRC joined in vice chairman Yao’s listening to the reports.