Cotton Yarn Cross-border Trade Service Platform Launched

The cotton yarn cross-border e-commerce transaction service platform was formally launched in Qingdao on May 17, 2014.

The 2014 international textile market situation seminar was held on May 17 at China Ocean University. At the meeting, Jinqiao Textile Network officially launched the Yarn Cross-Border E-commerce Trading Service Platform. The platform will be devoted to provide a full range of fast, convenient and safe cotton yarn import transactions for the majority of textile companies, attracting the attention of participants.

Due to the large price difference between domestic and foreign cotton in recent years, in order to reduce the cost of cotton, China's textile industry imports large quantities of low-price, high-quality cotton yarns from countries such as India and Pakistan. According to customs statistics, in 2013, the national cotton yarn import amount was US$6.82 billion, an increase of 37.5% year-on-year; the total import volume reached 2.1 million tons. In the fast-moving tide of international Internet trade, Jinqiao Textile Network has launched a "cross-border e-commerce transaction service platform for yarns" in response to the demand for cotton yarn import trading services for many textile companies, and strives to make this trading platform a textile industry. The company has strengthened the fast and efficient bridge of international trade and cooperation, and has made important contributions to the development of international e-commerce.