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DCE: Enhance the ability to serve the petrochemical industry such as ethylene glycol

On April 16, the "China Petroleum and Chemical Industry Federation Glycol Work Department Establishment Conference" organized by the China Petroleum and Chemical Industry Federation (hereinafter referred to as the Petrochemical Federation) was held in Zhangjiagang. Zhu Fang, Deputy Secretary-General of Petrochemical Federation, Cheng Weidong, Deputy General Manager of DCE, and relevant persons in charge of major ethylene glycol industry companies attended the meeting. Li Suoshan, chairman of the Light Hydrocarbons and Aromatics Professional Committee of the Petrochemical Federation and deputy general manager of Sinopec Chemical Sales Co., Ltd., said at the conference that this year is the year when the country’s "two centenary years" meet and the year when the "14th Five-Year Plan" begins. , To build a new development pattern in which the domestic big cycle is the main body and the domestic and international double cycles promote each other is the main axis of the country’s future economic development. The new development pattern has an inseparable relationship with all parts of the country. At the same time, different institutions and organizations such as governments, enterprises, and associations need to work together to make the dual cycle truly move. Cheng Weidong introduced that for many years, DCE has been focusing on the industry, thoroughly implementing the requirements of being based on the new development stage, implementing the new development concept, and building a new development pattern. Through the three main lines of product innovation, technology drive, and ecosystem construction, solid construction has been achieved. The world-class derivatives exchange strives to provide strong support for the development of the petrochemical industry. At present, DCE has listed 6 futures products and 4 options in the energy and chemical sector. The on-site market is running smoothly and orderly. The construction of "one circle and two centers" has taken shape. The market service system is becoming more and more perfect, and the market function is becoming more and more prominent. “DCE will combine the needs of the petrochemical industry to promote the listing of ethylene glycol and styrene options, and continuously improve the derivative product system of the chemical industry chain; deepen the construction of off-market product circles, and explore the introduction of linear low-density polyethylene and polypropylene on off-market platforms. Standardized contract transactions for non-standard products provide the industry with more diversified risk management tools. In addition, DCE will continue to optimize the rules and systems, improve the quality of market operation, further meet industry needs, and improve market services." Cheng Weidong said. He said that the participation of industrial enterprises is the foundation for the development of the futures market. Since 2018, DCE has established the Peking University Guanghua Petrochemical Industry EDP Class. After more than 3 years of market cultivation, it has formed a stable communication platform for the industry and also contributed to the second The establishment of the alcohol work department. In the next step, DCE will continue to provide industry-university-research-integrated services for the industry. Through platforms and channels such as EDP training courses, futures colleges, university talent training projects, and industry-finance bases, it will strengthen interactive exchanges with the industry and enhance its service industry capabilities. Under the leadership of the Petrochemical Federation, leading companies such as Sinopec, PetroChina and Zhangjiagang Bonded Technology have played an exemplary role in the industry and made positive contributions to the integrated development of the spot market. "The establishment of the glycol work department provides a new platform for both parties to enhance understanding and strengthen cooperation. The exchange will provide active support for the work of the glycol work department and jointly promote the construction of the petrochemical futures spot market." Cheng Weidong said . In Li Suoshan's view, the glycol work department will give full play to its communication and coordination functions, continue to increase its service to the glycol industry, build an innovative, harmonious and progressive industry atmosphere, and fully serve the development of the company and the industry. In this regard, Tang Yong, director of the first committee of the ethylene glycol work department and chairman of Zhangjiagang Bonded Technology Co., Ltd., said at the conference that in the future, the work department will be guided by laws, regulations and national industrial policies to integrate various advantages. Resource as the goal, actively carry out strategic cooperation, and strive to achieve information sharing, fair cooperation, coordination and consistency, and cost reduction and efficiency enha
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