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Training on new national cotton standard and related domestic trading and settlement

Training on new national cotton standard and related domestic trading and settlement Source:
Date: 05-03-2013
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In order to ensure the smooth implementation of new China national cotton standard, China cotton Association will host a training program in April, themed as “New National Cotton Standard and Domestic Trading & Settlement System". CCA will invite experts from the drafting group of the new standard to give thematic presentations and answering related questions.
The new national cotton standard, stands as GB1103-2012, will be officially implemented in September 1, 2013. The new standard leads to a fundamental reform in the history of national cotton standard revision. 19 aspects are revised including standard on cotton grade, ginning, strength, foreign fiber conception, etc. It also launches national physical standards of color grade and ginning quality, which forms a brand new system based on the color grade of cotton.
The Implementation of the new standards will change the traditional concept of cotton inspection, reshape the previous grade-based cotton trading system, and accordingly bring great impacts to the futures and spot market. To this end, as commissioned by the National Development and Reform Commission, China cotton Association takes the lead of developing a new set of settlement system for domestic cotton trade, which adapts to the new standards and promotes the healthy development of domestic cotton market.
The training will be held in Anhui province and last for 3 days. The Cotton Industrial Institute of Anhui University of Finance & Economics will be local host of the program.
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