Published on : Monday, December 16, 2013
As a part of one of their most commercially-motivated moves the Chinese Ministry of Industry has announced the establishment of a Timber and Wood Products Spot Trading Platform. This development has been jointly sponsored by the China Timber and Wood Products Distribution Association (CTWPDA) and the China Forestry Property Exchange Co., Ltd.
The newly launched trading platform will be launched nationally and eventually will provide a comprehensive timber industry service platform integrated with logistics and information trade flows. This unique platform will also include a trading centre an information centre and a pricing centre to promote domestic and international market development.
It is anticipated that the new trading platform will reduce transaction costs in the industry. The objective is that the platform will promote the rapid and orderly development of the timber industry across the country.
The platform provides the opportunity for Chinese timber importers to form purchasing alliances to enhance their bargaining abilities so that Chinese companies will have a better negotiating position in the international timber trade.