Discussion on magnesium Index compilation and data Collection held in Yulin Financial Center

On February 21, Yulin Financial Bureau organized a symposium on magnesium index compilation and data collection in Yulin Financial Center. Zhang Hongzhi, chairman of Yulin Financial Investment Company, presided over the meeting.

At the forum, Professor Xu Fengmin of Xi'an Jiaotong University introduced in detail the magnesium index compilation scheme, the form of data collection and the next step of the subject research. Gao Yanfeng, general manager of the futures business department of CUHK, introduced the future development prospect of magnesium metal in the futures market. Participants from the Municipal Development and Reform Commission, the Municipal Finance Bureau, the Municipal Bureau of Finance, the Municipal Bureau of Industry and Information, the Municipal Bureau of Statistics, the Municipal Bureau of Science and Technology, the Shenmu Municipal Development and Reform Commission, and the Fugu County Development and Reform Commission exchanged speeches and put forward reasonable suggestions.

The meeting pointed out that all participating units should take this opportunity to deeply explore the compilation plan and data acquisition method of Yulin magnesium index, and clarify the release form of Yulin magnesium index. guide Yulin magnesium industry to optimize pricing model, improve magnesium product quality and warehousing logistics level, promote magnesium industry structure adjustment and transformation and upgrading, and enhance the demonstration effect and international voice of Yulin magnesium industry.

Yulin is an important producing area of magnesium in China, and the output of raw magnesium in Yulin accounted for 62% of the country's total output in 2020. The compilation and publication of Yulin magnesium Price Index is of great significance to accurately reflect the relationship between supply and demand of magnesium, improve the price formation mechanism, guide production and consumption, and provide a basis for government macro-control decision-making.