With the opening of the Coffee Exchange (Center) and the approval of setting up a global agricultural products exchange center, the total number of bourses for bulk commodities has reached 11 in China (Shanghai) Pilot Free Trade Zone (FTZ), the Pudong Times reported on July 22.

The surge in the number of such exchanges points to Shanghai's Pudong New District's continuous efforts to establish more international spot trading centers for bulk commodities in the Shanghai FTZ.

Apart from the bourses for coffee, agricultural products and the Shanghai Petroleum and Gas Exchange that has started trial operation early this month, the other eight exchange platforms featuring bulk commodities such as steel, non-ferrous metals, silver and textile have either completed or are currently dealing with the last stage of business registration formalities.

All the said exchanges are open to foreign institutions, which is not only in line with the opening-up policy of the Shanghai FTZ, but also paves the way for the platforms reaching global markets.

Authorities are committed to supporting further development and expansion by providing favorable policies and encouraging cooperation among different trading centers and the utilization of the Internet-based trading models, according to a report prepared by the local government.

Edited by Mevlut Katik