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| China National Cotton Reserves
Corporation, also known as CNCRC, is a wholly state-owned
enterprise. In order to strengthen the cotton market
reform and separate the management of the state cotton
reserve from other cotton businesses, the State Council
approved setting up China National Cotton Reserves Corporation.
During its establishment, CNCRC got great support |
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and help from the State Council and other
governmental departments. A lot of cotton enterprises, domestic
and overseas, expressed great concern about this new corporation.
On behalf of all employees of CNCRC, I hereby extend our sincere
appreciation to them.
China is one of the largest cotton production and consumption
countries. Cotton production not only has great effect on
the economic development of cotton producing areas and the
income of cotton farmers, but also has significant impact
on the textile industry and China's export. Chinese government
has always attached importance to the cotton reserve system.
In recent years, special fund has been invested by the central
government to construct some state cotton reserve warehouses.
With the development of China's cotton production and the
acceleration of the market-oriented economic reform, the state
cotton reserve has become an important instrument for government
to regulate the cotton market, guide the cotton price and
keep the supply and demand in balance.
After China's accession to WTO, CNCRC will face both new
opportunities and severe challenges. We will earnestly embrace
the spirit of the 16th National Congress of the Communist
Party of China to emancipate the mind, be practical and realistic
and keep pace with the times to establish CNCRC as an enterprise
with unity and initiative. With such efforts, CNCRC will make
contribution to accelerating the development of the national
economy, stabilizing domestic cotton market, increasing China's
export income and keeping the cotton supply and demand in
balance.
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Lei Xiangju
President
CNCRC
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