Petrochemical Federation and Futures Industry Association signed a strategic cooperation agreement

On April 21, China Petroleum and Chemical Industry Federation and China Futures Association signed a strategic cooperation agreement in Beijing, in order to combine the industry resource advantages of both parties, establish a strategic partnership of all-round and in-depth cooperation, and promote the futures market to serve oil and High-quality development of the chemical industry
.

According to the agreement, the two parties will cooperate on the basis of complementary advantages, mutual support, honesty and trustworthiness, and common development
.
The first is to carry out industry information sharing and regularly report dynamic information and statistical data on the development of their respective industries
.
The second is to establish an industry exchange mechanism to strengthen discussions and exchanges on common issues faced in the development of the two industries, and to provide a good platform for business exchanges and cooperation between members of both parties; to jointly cultivate derivatives traders with spot backgrounds and improve the price discovery mechanism
.
The third is to establish a training cooperation mechanism, focus on cross-training between industries, jointly carry out the training of high-end talents in combination with the current period, and promote the two-way exchange of talents in the spot industry in the formative period
.
The fourth is to establish a research cooperation mechanism, carry out cooperation and research around major issues, and promote the exchange and learning of typical cases and mature experience between futures business institutions and petrochemical enterprises
.

"The existence of futures is inseparable from the industrial foundation, and the development of the industry is inseparable from the help of futures
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" Li Yunpeng, Secretary of the Party Committee of the China Petroleum and Chemical Industry Federation, pointed out that the "14th Five-Year Plan" is a period of high-quality development of China's petrochemical industry, and the development of the petrochemical giant The important stage of becoming a petrochemical powerhouse is also a critical period for China to strive for the pricing power and market discourse power of petrochemical products in the world
.
As an indispensable part of the modern economic system, the futures and derivatives market will play a pivotal role in this process
.
The Petrochemical Federation is willing and looking forward to comprehensively strengthening exchanges and cooperation with the China Association, deeply participating in and vigorously supporting the development of the futures industry, making full use of the functions of the futures and derivatives markets, and jointly promoting the stable and long-term development of China's petrochemical futures spot market and contributing to the high-quality development of the industry
.

Fu Xiangsheng, Vice President of China Petroleum and Chemical Industry Federation, introduced the development of the petroleum and chemical industry in recent years and said that the two sides should jointly strengthen the sharing and exchange of industry information, carry out market cultivation activities and promote the integration of industry and finance
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It is hoped that through this cooperation, China will change the status quo that China, as a major global crude oil importer, has no market voice and product pricing power, and further safeguard the country's energy security and consolidate the country's international market position
.

"There is a lot of room for cooperation.
We hope to carry out full cooperation to continuously improve the breadth and depth of derivatives instruments serving the petrochemical industry chain, and jointly promote the stable and healthy development of the two industries
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" Hong Lei, Secretary of the Party Committee and President of China Futures Association, pointed out, It is necessary to enhance the participation of real enterprises in the futures market and the service capabilities of the futures industry itself, so as to help enhance the voice of the real industry
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Hong Lei emphasized that the "Futures and Derivatives Law of the People's Republic of China" was passed by the 34th meeting of the Standing Committee of the 13th National People's Congress on April 20
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The mid-term association will continue to stick to its original aspiration, practice its mission, and further exert its functions of "self-discipline, service, and transmission", and promote the high-quality development of the futures industry to serve the real economy
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12 representatives of the Petrochemical Federation and the Mid-term Association attended the signing ceremony
.