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Chinese Commodity Exchange to Open Trade Platform for Silk Road Countries

© AFP 2021 / PHILIPPE LOPEZChinese investors monitor screens showing stock indexes at a trading house in Shanghai
Chinese investors monitor screens showing stock indexes at a trading house in Shanghai - Sputnik International
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China's Bohai Commodity Exchange (BOCE) is expected to launch a trade platform enabling streamlined commerce within the Silk Road Economic Belt (SREB) countries, the board chairman of the exchange said on Monday.

Eurasian Economic Ministers Outline Cooperation Within Silk Road Belt
BEIJING (Sputnik) China's so-called One Belt, One Road government economic framework was announced in 2013 to integrate favorable trade and investment conditions in Eurasia. The project includes two main components, the terrestrial Silk Road Economic Belt and the oceanic Maritime Silk Road.

"After three years of work we have completed the establishment of a mechanism of trade pricing. It will be officially launched within two months," Yan Dongsheng said at a conference.

The SREB includes countries situated on the ancient Silk Road route, connecting Central Asia, West Asia, the Middle East and Europe.

The board chairman explained that the mechanism would streamline and standardize international trade protocols within the SREB, opening new international service centers along the route to integrate markets and supporting investors at regional stock exchanges.

The Bohai Commodity Exchange currently trades some 70 commodities, including oil, metals and agricultural products. It is the only Chinese mainland exchange allowed to do cross-border national currency trading.

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