In December 2005 Sino Rubber Electronic Exchange Co., Ltd. was established on the basis of initial Electronic Business Exchange of Hainan State Farms. The main shareholders, which are Hainan State Farms, China State Farms Production and Logistics Association and HuaKen (Beijin) Investment Co., Ltd. jointly invest 50 million RMB into the new exchange.
Natural rubber has been regarded as strategic material by the world and listed as one of the four-most-important industrial raw materials, together with Coal, Steel and Petroleum. With the development of China’s boosting economy and the move of world’s well-known tire manufacturers into China Mainland, China’ s consuming and importing volume of natural rubber has leapt to No.1 in the world. In 2005, 1.8 million tons of natural rubber was consumed in China, 1.3 million tons of which were imported. Hainan State Farms is China’s biggest natural rubber manufacturer. Traditional natural rubber logistics system is characterized as Two-Parties trading and goods pricing and in-time payment are two headaches. Under that circumstance natural rubber logistics system reform was the focus and difficulty of State Farms’ reform and development. For efficiently solving the problems existing in traditional transaction and with great support from authorities of General Bureau of Hainan State Farms, May 8, 2001 Electronic Business Exchange of Hainan State Farms, identifying natural rubber prices and reflecting true market-value through innovative high-tech and marketing mechanism, was founded for online natural rubber transaction, which starts a new era in natural rubber logistics.
Through 5 years’ development Sino Rubber Electronic Exchange has grown to be China’s biggest professional natural rubber exchange, annual transaction volume and accumulative volume respectively reaches 5 billion RMB and 17 billion RMB, which accounts for 25% of China’s local natural rubber production. Its preferable economic and social benefits catch eyeballs of all circles of society and the exchange gains multitudinous awards and supports from Hainan Provincial Government, Ministry of Agriculture, Ministry of Science and Technology, Ministry of Information Industry and Development and Reform Commission of China, etc. It was listed as Ten-Fifth E-commerce Demonstration Project and Appointed Monitoring Enterprise for Important Materials Market and honored as State Agriculture Industrialization Key Enterprise by 8 state ministries in 2004.
To further longitudinal and transverse development, combing tangible and intangible markets with modern information technology and consisting of circulation of information, capital, business opportunities and commodities, Sino Rubber Electronic Exchange with tiptop goal of modern, professional and international electronic exchange will serve upstream and downstream enterprises in China and Southeast Asia region in the field of natural rubber and bulk agricultural commodities with open, fair, just, safe, reliable and efficient online transaction, information, payment and delivery services. |
