BEIJING, Dec. 9 (Xinhua) -- China has recently released the China Price-Xinhua Coking Coal Price Index on the 2020 China Coal Trade Conference held in Rizhao of Shandong Province on December 4, aiming to provide timely, comprehensive and accurate information reference about the coking coal price variation in the country.
The index, jointly released by the Price Monitoring Center of National Development and Reform Commission (NDRC-PMC) and China Economic Information Service (CEIS) of Xinhua News Agency, collects real contract data of Chinese coking coal enterprises through the platform of Coking Coal Online, with sample enterprises mainly from Shanxi, Anhui, Shangdong, Hebei, Henan, Heilongjiang and Liaoning, where China's coking coal recourse is concentratively distributed.
The index includes three sub-indices on long-term contract price, spot price and bid price respectively, with the first week of January 2017 as the base period and the base point set at 1,000 ponts.
The index boasts authentic and reliable basic data, with sample enterprises of strong representativeness and index system completely optimized, said Lu Yanchun, head of the Price Monitoring Center of National Development and Reform Commission (NDRC-PMC) on the opening ceremony of 2020 China Coal Trade Conference held in Rizhao of Shandong Province.
Photo: China Price-Xinhua Coking Coal Price Index is released on the opening ceremony of 2020 China Coal Trade Conference.
According to Lu Yanchun, the release of the index will not only help enterprises to better know the market trends and reasonably arrange production, but also help government departments to better understand market conditions and make scientific decisions.
Photo: Lu Yanchun, head of the NDRC-PMC delivers a speech on the opening ceremony of 2020 China Coal Trade Conference.
The PMC, an institution affiliated to NDRC, is mainly responsible for organizing and implementing national price monitoring, coordinating and guiding local price monitoring operations, monitoring the prices of important commodities and services, analyzing and predicting price trends, conducting surveys, establishing price warning mechanisms, tracking price changes, compiling and publishing price indices and price monitoring information of important commodities and services, and providing information services.
CEIS, a wholly-owned company of Xinhua News Agency, is responsible for the construction of four national-level platforms namely Xinhua Finance, Xinhua Silk Road, Xinhua Credit and Xinhua Indices, and a national high-end think tank. As China's first professional institution of studying, releasing, promoting and operating composite indices, Xinhua Indices has launched more than 50 indices concerning price, finance, topic and evaluation and covering 20 provinces of China. (Edited by Tong Wei, firstname.lastname@example.org)