On March 29, Xinjiang cotton products were officially launched in Shandong Heze Peony International Bulk Commodities Exchange, with a turnover of 9,806 tons of cottonseed on the day of the launch.

 

The quality of Xinjiang cotton is world-famous. As one of the major cotton producing areas in Xinjiang, Kashgar has been developing its cotton industry with high quality in recent years. In 2020, a total of 5.539 million mu of cotton was planted in Kashgar, of which 4.6327 million mu of cotton was planted in key counties of high-quality cotton.

 

As the “cotton product online” project, Heze Peony International Bulk Commodities Exchange will make full use of the Internet of Things, big data and blockchain technology to realize the matching of production and marketing of cotton, cottonseed and cottonseed meal between Xinjiang’s main producing areas and Shandong’s main marketing areas, solve the problems of financing difficulties and expensive financing for small, medium and micro enterprises and agricultural growers, reduce trade links, and reduce operating costs, and increase corporate benefits.

 

The successful launch of Xinjiang cotton products in Heze Peony International Bulk Commodities Exchange will not only enhance the influence and competitiveness of Xinjiang cotton in the domestic and international markets, but also promote the transformation and upgrading of Xinjiang cotton industry and boost the economic and social development of Kashgar.