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China National
Cotton Reserves Corporation (CNCRC in abbreviation) is a wholly
state-owned enterprise founded in March 2003 with the approval
of the State Council. CNCRC is assumed with the overall responsibility
for the management of the state cotton reserve. Under the
macro-regulating and surveillance of central government, CNCRC
is responsible for its own management decisions, profits and
losses. CNCRC is registered with a capital of 1 billion RMB.
It has the right to import and export cotton and can approve
some foreign affairs within certain extent. There are 18 cotton
warehouses affiliated to CNCRC, which are located in main
cotton producing and consumption areas all over China.
The operation guidelines of CNCRC include:
abiding by the law; executing government's cotton policies;
strengthening management to promote economic profits; ensuring
the safe and good storage of the state cotton reserve and
efficient distribution in time of need; protecting the state
assets; and fulfilling state macro-regulating mission.
The major business scope of CNCRC covers:
purchase, sale, storage, transportation and processing of
the state cotton reserve; lease of storage equipments and
related services; cotton import and export, etc.
In the future, CNCRC will persist in its
own development strategies, i.e. establishing new system,
adopting new mechanism, grasping new opportunities and building
new corporate image. Besides, we will try our best to deepen
reform, strengthen administration and improve our service.
Through these efforts, CNCRC will be an outstanding state-owned
enterprise with unity, credit, efficiency and initiative.
CNCRC will make great contribution to the development of the
national economy and the acceleration of market-oriented transformation
of china's cotton circulation system.
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