On September 5, 2011, Far East Trading Pay Network Co., Ltd. (hereinafter referred to as “Trading Pay”) was founded and the project of China Cable Materials Exchange (the predecessor of Far East Materials Trade Center Co., Ltd., (hereinafter referred to as “Trade Center”) was launched; in May 2013, Yixing Designated Settlement Warehouse of Trade Center was established; in July 2014, promoting more than 50 new products such as the PP net belt, fan filling, mica tape, aluminum boron alloy and PE particles; in March 2015, the Trade Center officially changed its name into “China Materials Exchange”; in February 2016, the spot trade business separating from Trading Pay to set up the Trade Center; in July 2016, the Trade Center was officially opening approved by Financial Work Office of Jiangsu Provincial People’s Government; and in August 2017, the Trade Center signed the strategic cooperation agreement with Yongsheng Group to integrate resources and develop financial service. The date of September 5, 2017 marks the 6th anniversary of spot trade business of Trade Center. Over the 6 years, under the over-all environment of internet plus, the Trade Center keeps abreast with the national situation to forge ahead with its original intention, consistently innovating the service development model, and assisting in the entity economy.
Adopting the mode of electronic transaction, the Trade Center breaks through the geographic restrictions. Taking the service for industrial entity as its purpose, the Trade Center cover the following main trading commodities: cable materials like 8mm copper bar, 3mm copper wire, 9.5mm aluminum rod, pvc and steel strip. The Trade Center created and optimized the procurement method of cable materials, providing industrial customers with the one-stop service of transaction, settlement, closing accounts, financing and warehousing.
The Trade Center first introduced the Raw Material Price Index of Wire & Cable Industry. It conducted compilation based on the excellent category system and rich historical data which displayed on the PC market end and APP mobile terminals, helping customers inquire and analyze the cost fluctuation of wire & cable industry intuitively.
The achievement of mutual benefit is the long-term development strategy of the Trade Center. It always sticks to the operation philosophy of “integrity, mutual benefit, initiation, win-win” to enhance communication and cooperation, and make joint progress with peers in the future development path, always directing at the enterprise model with the state-level scale, operation and management level, brand influence and sustainable developing force to advance arduously.
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