SPG contributes to national bulk commodity develop

The launching ceremony for the national commodity warrant registration center was held in Shanghai on the morning of Nov 23. Shandong Port Group or SPG, as one of the shareholders, participated in a shareholder seminar organized by the Shanghai Pudong Financial Bureau and the Shanghai Futures Exchange. SPG General Manager Li Fengli, on behalf of SPG, attended the launching ceremony and signed a cooperation framework agreement on promoting the development of the center.

The center focuses on three areas including bulk commodity data management, block chain warehouse receipt services and market-related information release, and is expected to provide centralized registration and enquiry services for national bulk commodities. The aims is to establish a modern national warehouse receipt registration and circulation system.

Shandong is one of the provinces with the most prominent advantages to develop bulk commodity in China and beyond. SPG enjoys geographical advantages, connecting the eastern and western regions and linking the coastal and inland areas. Since its establishment on Aug 6, 2019, SPG has deepened port integration reform and witnessed continuous improvements in its overall competitiveness and influence. In 2021, it completed a total cargo throughout of 1.5 billion tons and a container volume of 34 million TEU, ranking first and third in the world, respectively. Its annual import volumes of crude oil, iron ore, bauxite and grain account for 1/3, 1/4, 2/3, 1/5 of the national total. All these have turned SPG into a significant port for Shandong and China to further open up to the world.

With the continuous expansion of its size and capacity, SPG's businesses like futures, bulk commodity and energy trading are undergoing deep integration. This has ensured the futures and spot combination for bulk commodity. As unloading ports for bulk commodity, the natural advantages of Qingdao Port, Rizhao Port, Yantai Port and Bohai Bay Port to develop futures business have become increasingly prominent.

SPG's move to take part in the preparation work of the center and become one of the founding shareholders will help itself realize new advances and accomplishments in the field of futures and settlement. It will make good use of the center and join hands with cooperation partners to build a sound ecosystem for bulk commodity, so as to make positive contributions to establishing a unified domestic market and advancing the high-quality development of the bulk commodity market.