Promote market cooperation in commodity trading between Vietnam and China

PROMOTE COOPERATION WITH THE CHINESE MARKET

During this trip, MXV’s delegation led by Mr. Nguyen Ngoc Quynh, Deputy General Director, visited and had working sessions with Dalian Commodity Exchange (DCE), Shanghai Futures Exchange. (SHFE), Shanghai Gold Exchange (SGE) and Orient Futures International Finance Company.

DCE and SHFE are currently two of the three largest commodity exchanges in China, and are also in the top 10 largest commodity exchanges globally. Meanwhile, SGE has always maintained its position as the largest physical Gold Exchange in the world over the years.

At the meeting, the partners openly shared with MXV their practical experiences in implementing professional activities such as price hedging, risk management, member management, transaction clearing to organize Organize and operate the commodity trading market in a transparent, professional and effective manner. In addition, cooperation contents on market training and human resource training were also discussed based on decades of experience in building and developing markets in China.

Partners all affirm that Vietnam is the fastest growing commodity trading market in the region. With Vietnam – China bilateral relations being comprehensively promoted by the Governments of the two countries, cooperation with MXV will be the key strategy of Commodity Exchanges in China in the near future.

Mr. Nguyen Ngoc Quynh said: “According to the plan, in the second quarter of 2024, MXV will complete the transaction with Exchanges in China, moving towards the goal of cross-listing trading products. In addition, connecting with the billion-people market will open up great opportunities for domestic businesses and investors to optimize efficiency in price insurance and investment operations.”

EXPERIENCE IN BUILDING A PORK MEAT TRADING FLOOR

According to the key plan in 2024, MXV is expected to deploy specialized commodity trading floors for Vietnam’s strong products, of which the Pork Trading Floor in Ho Chi Minh City will be the pilot. important point.

As the leading Exchange in the largest pork production market in the world, DCE has long-standing experience in listing and organizing pork trading in China. According to DCE’s report, on average in 2023, about 1.6 million tons of pork will be traded through this Department every day.

Throughout the working trip, MXV continuously exchanged experience with DCE on issues: choosing types of pork products to trade, pig breeds, strict quality management process, pork delivery process, etc. .

Along with that, MXV also shared more about the scale and characteristics of the pork market in the city. Ho Chi Minh. Mr. Wang Weijun, Deputy General Director of DCE emphasized: “DCE is always ready to support and share experience so that MXV can operate the Pork Exchange well. DCE also hopes that the two Departments can connect transactions and cross-list products as soon as possible in the near future.”

MODERN INFORMATION TECHNOLOGY AND MATERIAL DELIVERY SYSTEM

During the visit, the MXV delegation visited DCE’s Data Center. This center has a total area of ​​up to 10,000 m2 with a capacity of more than 1,200 server cabinets and modern technological infrastructure. DCE’s system can meet the continuous trading needs of millions of accounts without any problems.

Along with that, MXV and DCE visited Dalian port. The port serves as the second largest container transshipment center in China with a total land and water area of ​​346 square kilometers, a 160km dedicated rail system, 300,000 square meters of warehouses and a 1.8 square meter container yard. million m2.

The port has 80 specialized docks, able to receive ships with a tonnage of up to 500,000 tons, linked with more than 300 ports in 160 countries and different territories around the world. This is DCE’s main forwarding port for agricultural products. DCE’s physical goods delivery activities have taken place very actively here over the years.

Through this visit, MXV can learn and adhere to the goal of digital transformation, meeting the increasing transaction requirements of businesses and investors in Vietnam.

At the same time, freight forwarding operations will be promoted and expanded for our country’s strong products such as exporting coffee, pepper, and cashews; importing animal feed ingredients, etc. MXV will continue to work and coordinate with DCE in particular and partners in China in general to build an effective commodity trade channel for the domestic market, contributing contributing to the development of the trade industry in particular and the Vietnamese economy in general in the coming time.