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Digital platform facilitates mineral products trading in Guiyang and Gui'an

english.guiyang.gov.cn|Updated: 2024-07-05

The Guiyang Mining Product Digital Trading Platform recently went online and facilitated its first transaction of 4,000 metric tons of high-grade low-sulfur mineral products. So far, a total of 165 buyers and sellers have registered on the platform. As a crucial part of Guiyang City and Gui'an New Area's efforts to implement the "Efficient Mining" development strategy and improve the mineral product supply, sales and storage system, the platform is expected to significantly enhance the circulation efficiency of mineral products and boost industrial development.

"Efficient Mining" refers to achieving maximum benefits with minimal resource consumption. However, under traditional trading models, both suppliers and buyers struggled to obtain timely and accurate market information. This led to supply-demand mismatches, price hikes, overproduction, and resource waste.

The digital transaction platform achieves full-process digitalization from trading and logistics to storage, with all market data being updated in real-time with each transaction. Users can clearly see which products are selling well and which are in high supply, allowing them to adjust production plans according to real-time market changes, achieving a balance between production, transportation, and sales of mineral products. With this market guidance, companies will naturally produce more refined products, reducing blind exploitation of mineral resources.

The traditional trading methods also had several obvious drawbacks. Firstly, traditional transactions often relied on in-person negotiations and paper contracts, consuming more labor and time. Secondly, due to the lack of real-time and accurate market data and information, mineral product prices were easily manipulated, leading to significant market price fluctuations. Finally, the opaque and fragmented nature of the transaction process made it difficult to fully grasp market dynamics and transaction data, increasing regulatory challenges.

The development of the digital transaction platform aims to solve these issues. The platform's launch will effectively reduce transaction costs, increase transparency and fairness in trading, and help relevant departments strengthen full-process supervision of mineral product transactions, ensuring a stable and orderly market, thereby achieving optimal resource allocation.


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