Photo: Release conference of Xinhua HSF Price Indices in Haikou
HAIKOU, Mar. 27 (Xinhua) -- China Economic Information Service (CEIS) and Haiken Group (HSF) jointly released the "Xinhua HSF Price Indices" in Haikou, capital city of south China’s Hainan Province on Sunday.
The indices include China Natural Rubber Price Index, Pepper Price Index and Areca Nut Price Index.
To be specific, "Xinhua HSF China Natural Rubber Price Index" is China's first price index system supported by the spot market trade data and connecting the rubber production and sales. Comprising four sub-indices, namely concentrated latex, latex, mixed rubber and standard rubber, the index is an important carrier showcasing the influence of China's rubber industry.
As a leading natural rubber producer and major tropical crop producer in China, HSF has a natural rubber area of 3.69 million mu (15 mu equal one hectare) and a tropical crop area of 1.5 million mu.
"Xinhua HSF Price Indices" intuitively present the price changes of natural rubber, pepper and areca nut, and objectively and accurately reflect factor price fluctuations in different links of the industry chain, thereby providing an open and transparent price guide to the industries. The indices help players engaged in the production, circulation and processing to duly and accurately study and predict market prices, and in that way, they rationally guide market expectations, said Liu Mingxia, vice president of CEIS.
Though ranking the 6th in terms of the harvest area of natural rubber and the 5th in output in the world, China has not gained a say over the market yet. One reason is that China has been deficient in the monitoring, pre-warning and predication of the natural rubber market, said Ke Youpeng, head of the Hainan Research Institute of Tropical Agriculture and Rural Economy.
The release of Xinhua HSF Price Indices, especially the Natural Rubber Price Index, will make a positive and far-reaching impact on the security of the national economy and the natural rubber industry, noted Ke.
Yang Sitao, chairman of HSF addressed the conference that HSF will widen the cooperation with CEIS to gradually improve the system of Xinhua HSF Price Indices and enrich index dimensions, in a bid to create internationally influential and credible price indices, and build HSF into a new growth pole for Hainan's economy as well as a characteristic national tropical agriculture demonstration zone.
CEIS is a wholly-owned company of Xinhua News Agency, and boasts five national-level platforms including Xinhua Finance, Xinhua Silkroad, Xinhua Credit, Shanghai Petroleum and Natural Gas Exchange (SHPGX) and Xinhua Think Tank. As China's first professional institution studying, releasing, promoting and operating composite indices, Xinhua Indices have been committed to building four product systems: Xinhua Price Index, Xinhua Theme Index, Xinhua Evaluation Index and Xinhua Finance Index, and launched a series of influential products. (Edited by Hu Pingchao, hupingchao@xinhua.org)
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