"'Internet + commodities' action plan will change the business model and game rules of commodity markets, leading the industry to re-shuffle, to create an upgraded version of the commodity markets, and to boost our ability to fix commodity prices." The head of the securities Futures Institute of Beijing Technology and Business University Hu Yuyue recently said.
"Internet +" represents a new form of economy that fully optimizes and integrates the role of the Internet in the allocation of production factors, puts the Internet innovation into all areas of economic, and improves creativity and productivity of the real economy.
Across the globe, since the financial crisis, the United States resorted to its first-mover advantage of the Internet economy to vigorously promote the "Internet industry" and to accelerate the integration of Internet technology and traditional manufacturing. As a leader in the European economy, Germany, will promote "Industry 4.0" as a national strategy, which in essence is the integration of information technology and the next-generation manufacturing.
Hu Yuyue believes that Internet technology can achieve a virtuous cycle of information and sharing mechanisms to make mutual influence and mutual coordination among spot, forwards, futures prices and forge fair "anchor price", which is the key to our country to compete in commodity pricing.
"Through the form of the Internet, we can effectively integrate the market resources, streamline commodity circulation order and establish organic links among the layers and levels of market, we should extend down the futures market, upward the spot market, cultivate the OTC market, and form futures and spot docking, inside and outside the docking, online and offline docking, commodity and financial docking, domestic and foreign docking multi-level commodity market system. "Hu Yuyue said.
Let’s take the "Internet + steel" for example, in 2013, steel spot trading platform Shanghai Steel silver project was officially launched, it has covered the Bohai Sea, Yangtze River Delta, Pearl River Delta region for just two years, and continues to head to the Central of China.
The vice president of Shanghai Steel unio and the general manager of steel silver Bai Rui recently said, we were designed to provide the whole process solutions for the steel industry chain, to create a "seamless steel trading platform" including the spot trading, logistics, online financing, payment and supporting services, it has been involved throughout the steel products in sectors of the trading of goods consignment model, like payment, delivery, billing and other secondary transactions, the "internet + steel" model has universally been recognized. Until April 2015, the daily settlement amount of silver steel business platform has reached 66,593 tons.
Hu Yuyue pointed out that the electronic commodities trading market was an upgraded version of the spot trading, the next line was now one of three non-standard (on-site, cash, cash) transactions upgraded to relatively standardized online trading. It’s suitable to trade commodities online due to commodities’ features - industrialization, marketization, intensiveness, large scale, and standardization.
"'Internet + commodities' action plan, is not simply electronic transactions, but the combination with the financial services, logistics as well as upstream and downstream businesses together to form a complete industry ecosystem, to make multi-party enterprises embrace Internet and to integrate the whole industry chain, thus the efficiency of resource allocation will be increased, the existing commodity pricing rules will be changed, which will help us fight for commodity pricing. "Hu Yuyue represented.
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