Textile material trading center opens in Nantong

The Nantong FTZ Textile Material Trading Center (NTMTC) held its opening ceremony on June 30, according to the Nantong Economic and Technological Development Area (NETDA).

Featuring information, logistics, business and capital flow, the NTMTC is the first comprehensive electronic trading platform for bulk commodities with a registered capital of 100 million yuan ($16 million).

Boasting a big market for import cotton yarn consumption and a solid textile industrial foundation, Nantong will attract eminent importers, retailers, foreign suppliers and purchasing enterprises to settle in the center thanks to the favorable policies and supporting facilities of the FTZ. The center will serve as a trading platform for Jiangsu and the Yangtze River Delta Area.

The center is expected to reach an annual sales volume of 5 billion yuan in the first stage, with 20,000 tons of imported cotton yarns from India, Pakistan and Vietnam monthly. The center will focus on raw fabric trading in the second stage, with an expected annual sales volume exceeding 10 billion yuan.