Trading center for Hainan international tropical agricultural products inaugurated in Haikou

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Jan 03, 2019, 22:43 ET

HAIKOU, China, Jan. 3, 2019 /PRNewswire/ -- The trading center for Hainan international tropical agricultural products was inaugurated in Haikou, capital of south China's Hainan Province on December 18, 2018.

On the same day, the Xinhua-HSF natural rubber series price indexes were released, consisting of concentrated latex price index, standard rubber (TSR20) price index, mixed rubber (20#) price index, and field latex price index.

The trading center for Hainan international tropical agricultural products was inaugurated in Haikou, capital of south China's Hainan Province on December 18, 2018.

The series of indexes, compiled jointly by China Economic Information Service (CEIS) of Xinhua News Agency and Hainan State Farms Investment Holdings Group Co., Ltd (HSF), is China's first price index system that integrates rubber production and sales.

The release of such series price indexes is expected to further increase the popularity of Hainan international agricultural products, such as field latex, at home and abroad, and expand the international influence of HSF.

Su Huizhi, vice president of CEIS said that the natural rubber series price indexes realize the combination of big data and related industries, which will gradually form a credible value benchmark for natural rubber by collecting and refining large amounts of market data to improve transaction efficiency and credibility.

At present, HSF has made extensive economic and trade cooperation with countries along the Belt and Road routes, including Thailand, Malaysia, Singapore, Cambodia, and Sierra Leone, and become the world's first multinational company with the largest area of rubber planting and trade volume. So far in 2018, its overseas revenue has accounted for more than 80 percent of its total.

Yang Sitao, chairman with HSF said that the trading center for Hainan international tropical agricultural products will continuously improve the trading mechanism, strengthen the construction of digital platform, and optimize the mode of service, so as to introduce more tropical agricultural products from Hainan and overseas countries onto the platform for trading.

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SOURCE China Economic Information Service