On 18 September 2019, Qianhai Mercantile Exchange (QME) successfully hosted “2019 QME Non-ferrous Metal Industry Summit and Industry-Finance-Technology Integration Development Forum” in Shanghai.  Wen Xianjun, Vice Chairman of China Nonferrous Metals Industry Association gave an opening speech for the conference.  More than 300 representatives from the non-ferrous industry, commercial banks, insurance companies, technology companies, investment institutions and other enterprises attended the meeting, sharing their insights and real cases on financial innovation, technology empowerment, industry integration and relevant topics, offering advice and recommendations on the development of the industry.

QME introduced its development plan, operation management system and financing business model to the guests at the forum.  In about one year since QME was established, its product types have expanded from alumina to aluminium billets, aluminium rods, copper rods, etc., with many more spot products under intensive research and development soon to be launched.  In addition, QME pays close attention to the needs of the industry and keeps rolling out new trading models.  Apart from producer warrant listing, it has successively launched warehouse warrant listing, non-standard listing (offline settlement), floating guarantee and other trading models and is planning to further introduce innovative models such as spot swap and offline settlement to cater to the different preference of customers.  During the copper and aluminium sub-forums, representatives of QME, financial institutions and technology companies presented the latest industry development trends in relation to the building of an open and efficient spot trading market, the innovation of financial services to solve financing problems as well as the creation of a technology-empowered standardised commodity asset system.  They also talked about their previous efforts and attempts, which struck an empathetic chord among the participants.

At the conference, QME and PICC Property and Casualty Company Limited formally reached a strategic cooperation agreement pursuant to which they agreed that, as a complement to the already launched warehouse warrant insurance, they would continue to work comprehensively in areas such as insurance innovation, product development, and technological empowerment to support the better development of the real economy.

At the sub-meeting of the copper industry in the afternoon, QME signed a strategic cooperation agreement with China Cable Chamber of Commerce to commence extensive strategic cooperation in the warehousing, trading and financing aspects of the copper industry chain and jointly provide comprehensive services to industrial customers.

Having ushered in a new era of technology-empowered and driven transformation of commodities trading and financial services and with the original intention of “setting a foothold in spot market while serving the real economy”, QME will work with financial institutions, technology companies and many other partners on the construction of financial infrastructures and creation of an innovative trading platform and ecosystem to continuously provide customers with the following core values: 1. providing benchmark spot prices; 2.reducing counterparty credit risk; 3. technology empowerment and providing "financial" warehouse warrants for inventory financing; 4. providing basis for verifying the authenticity of trade backgrounds; 5. helping enterprises increase their efficiency and reduce their costs through intensive operation on the platform; 6. achieving the connection of the Mainland and overseas markets.  QME will keep exploring new modes to serve the real economy so as to facilitate the transformation and upgrade of the Mainland’s commodity industry.