A major move of Hainan FTZ: Sanya Int’l Trade Group established
A launch ceremony for the Sanya International Trade Group Co., Ltd. was held in Haitang Bay on April 9th, 2019. Funded by the Sanya Municipal People’s Government, Sanya International Trade Group Co., Ltd. will serve as the main investment body of a new international trade platform in Sanya.
Officials and guests who attended the opening ceremony included Zhou Lianfen, Vice Secretary of the CPC Sanya Municipal Committee and Secretary of the Sanya Municipal Political and Judiciary Commission; Chen Tiejun, member of the CPC Sanya Municipal Committee and Executive Vice Mayor of the Sanya Municipal People’s Government; Xie Qinglin, Vice Mayor of the Sanya Municipal People’s Government and Director of the Sanya Financial Services Development Bureau; Yang Zhicheng, Vice General Manager of Hainan Nongken Group Co. Ltd.; and Zhu Yuchen, CEO of Asia Pacific Exchange (APEX).
During the ceremony, a strategic alliance agreement was reached among three parties: the Sanya Municipal People’s Government, Hainan Nongken Group Co. Ltd., and APEX.
Under the agreement, the Sanya government will join hands with Hainan Nongken Group and APEX to invest in a number of trade venues that are in line with Sanya’s industrial positioning; the three parties will also work to develop a variety of trade products, and promote the establishment of trading centers, price discovery centers, capital formation centers, and risk management centers in Sanya. The trilateral cooperative arrangement is an important measure for the development of the Hainan Free Trade Zone (Port), and will help Hainan further serve as a portal for China to the rest of the world.
In the long term, the Sanya International Trading Platform will build a trading market platform that includes spots and futures, and will drive the development of physical industries in Hainan and surrounding areas, while also promoting the internationalization of the RMB and the construction of the “Belt and Road” project. The Sanya International Trading Platform aims to become a pillar of the Hainan Free Trade Zone (Port) project.
Asia Pacific Exchange Pte. Ltd. (APEX) (www.asiapacificex.com) is an international derivatives exchange approved by the Monetary Authority of Singapore; it is the third exchange to hold “Approved Exchange” and “Approved Clearing House” licenses in Singapore. APEX lists commodity and financial derivatives traded by global market participants. Recognizing the demand that global market participants have for products closely related to the Chinese economy, APEX aims to provide a robust platform with Chinese-economy exposure for international market participants. The platform also serves Chinese and international market participants seeking to manage price risks.
Hainan Nongken Group Co. Ltd. operates as an investment company. The Company provides agricultural investments, tourism investments, real estate investments, industrial investments, service industry investments, and other services. Hainan Nongken Group provides its services throughout China.