Ningbo Commodity Exchange launching new bidding model
- Details
- Category: Governmental News
- Published: Monday, 03 December 2012 09:14
The first bulk commodity bidding (auction) transaction was completed smoothly in Ningbo Commodity Exchange on November 28. The target commodity was the 1# copper wires entrusted by Ningbo Huanglong Recycling Resources Group.
As a mature and traditional trading model, bidding and tendering transaction has such disadvantages as great limitations and opaque transaction processes. By combining the traditional trading with E-business, Ningbo Commodity Exchange has achieved the electronic transaction, thus breaking the limitation in time and space to provide 90 "fair, just and open" trading platform for businesses.
it is said that the exchange will gradually launch the trading of other bulk commodities including chemical products, coal, steel and iron, zinc and lead, through the model of bidding and tendering trading.
