[Reported by Xinhua News Agency] Bulk Commodity Cross-border E-commerce Platform Started in Shanghai to Struggle for the Discourse Right of Pricing

  • Nov 26,2015
  • From:GYIE
Xinhua News Agency, Shanghai, November 26, by Luo Zheng and Guo Luyao: On 26, Shanghai GYIE Cross-Border E-commerce Co., Ltd., one of the largest bulk commodity cross-border E-commerce platforms in China, was formally started in Shanghai. 
It is said that chinayie.com is an E-commerce platform focusing on bulk commodity cross-border trade. As a leader in the field of Bulk Commodity E-commerce, chinayie.com is integrated with bulk commodity online trading, market information, warehousing & logistics, online payment and derivatives appreciation, with the latest information technology research and development of the world. As a result, it can provide enterprises engaged in all links of bulk commodity cross-border trade with the whole industry chain service. 
The reporter learned that GYIE has ten years of business experience for international bulk commodity trade business. Moreover, it has a long-term stable cooperative relationship with large chemistry enterprises, including British Petroleum, Royal Dutch Shell, American BP, PetroChina, Sinopec, etc. China International Cooperation Association of Small and Medium Enterprises provides data showing that GYIE bulk commodities cross-border E-commerce platform mainly focuses on trading chemical materials, whose trade share accounts for 30% of national trading volume and 70% of turnover in Eastern China. It is the currently China's largest bulk commodity cross-border E-commerce platform at present. 
Since this year, the domestic cross-border E-commerce industry has rapidly developed. According to Guiding Opinions for Advancing the Healthy & Rapid Development of Cross-border E-commerce issued by General Office of the State Council in June, it pointed out that the development of cross-border E-commerce is conducive to exerting the advantages of big manufacturing country, advancing the transformation of enterprises and foreign trade structure, and promoting active measures of open economy development & upgrading. Ding Mingde, Chairman of GYIE, believes that cross-border E-commerce is an industry at the forefront location. However, it was mostly concentrated in the field of means of livelihood previously, so E-commerce in the field of production materials did not receive much attention. “As the basis of national industrial development, with in-depth advancing of ‘Internet + Trade’, the trend of cross-border E-commerce trade for production materials is irreversible.”
“During transaction of cross-border bulk commodity, a number of middle and small-sized enterprises cannot provide the letter of credit necessary in the international trade, so are difficult to make negotiations and trades with foreign excellent buyers.” ” Ding Mingde said that GYIE mainly focuses on serving those small & medium enterprises. On the one hand, it receives the demands of small & medium enterprises; on the other hand, it negotiates with overseas bulk commodity vendors to provide domestic enterprises with high-quality commodities. 
Insiders hold the opinion that China is both a big manufacturing country and a big country purchasing industrial materials including various commodities. Yet, Chinese enterprises are still lack of pricing ability in the bulk commodity pricing field. “This is related to decentralized procurement of small & medium enterprises in China, and highly non-transparency of information.” Ding Mingde said, online transaction can provide the two trading parties with open and transparent information, and GYIE can grasp the latest relation between supply and demand by making match tradeoff as well. This is beneficial for manufacturing enterprises in China to promote the discourse power of pricing in the bulk commodity field. 
Besides, affected by the current international and national economic current situations, the prices of international crude oil and other commodities have still fluctuated greater. With the longer general purchasing period of commodities, the frequently fluctuated price results in a certain distress to small & medium enterprises in China. With the aid of ensuring the supervision of guarantee and the design of futures hedging mechanism, GYIE bulk commodities cross-border E-commerce platform maximally relieves the influence on enterprise’s purchasing cost due to the fluctuation of market price. Also, with its own goods absorbing capability, even if the purchaser breaks an appointment, the platform can ensure the successful trade as the purchaser. 
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