Xinjiang Zhejiang Enterprise Chamber Of Commerce: Billions Of Hot Money Frying Cotton Is Out Of Nothing.

Although there were Wenzhou 6 years ago "

Then, is it hot money "speculation cotton" or hot money to be hyped? Has "Platinum" known as Xinjiang cotton really comparable to real estate, coal? How can Wenzhou investors who walk the Quartet look at their "speculators" image?

Billions of hot money fried cotton is out of nothing.

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In recent domestic reports, the argument that Wenzhou's "hot money" has flocked to Xinjiang is not only the name of investors, but also the total amount of funds, and the most striking figures come from Xinjiang Zhejiang Business Association (chamber of Commerce).

Xinjiang

And some Wenzhou cotton traders who have already entered Xinjiang have no idea about this.

Li Changliang, a cotton merchant in Wenzhou, who has been engaged in cotton processing and purchasing industry in Xinjiang for many years, is surprised at her recent frequent appearance in the press, because nearly every article about Wenzhou's hot money in Xinjiang has recently mentioned him and his business.

Li Changliang said: "I have never received media interviews on such topics. I really don't understand how my name got on the newspaper." Chen Shiwen, executive vice president of the Wenzhou chamber of Commerce in Akesu, Xinjiang, said that as early as 2002, the private capital of Wenzhou had already been heavily involved in the Xinjiang cotton purchase and purchase market. Recently, the so-called billions of hot money to Xinjiang "fried cotton" was completely out of thin air. Otherwise, Wenzhou cotton merchants who invested in factories in the main cotton producing areas could not have been unaware of it.

"Platinum" can not pull too much "hot money".

Some cotton traders in Wenzhou say that 6 years ago, the experience of Wenzhou's "fried cotton regiment" in Xinjiang was impossible to ignore.

Since the autumn of 2002, Wenzhou's private capital has flooded into Xinjiang's cotton purchasing and processing field. Even a large number of cotton ginning plants have appeared in some cotton producing areas.

According to some industry insiders, the private capital of Xinjiang's cotton purchase in Wenzhou is more than 10 billion yuan at most.

However, only a year later, the market gave a lesson to impulsive "hot money".

Due to the excessive concentration of time and quantity of imported cotton, the cotton prices in China fell sharply in 2004, and the main cotton enterprises were generally losing money. The cotton merchants who invested in Xinjiang also suffered heavy losses.

Most of the funds have been stranded, and many people have not yet recovered all their investment so far, so they have to continue to "trouble" for cotton.

Wen quotient Chen Shiwen said: "originally intended to make a profit, but eventually turned into an industry."

After several times of market difficulties, the pursuit of high profit "fried cotton regiment" has finally become an investor in the industry.

On the question of "going and staying" after "speculation", cotton traders in Wenzhou appear very rational.

Chen Shiwen said: "before we have a better choice, we can only engage in a relatively familiar business. Although we are running a small profit margin, it is a relatively stable industry after all, and we have already paid an expensive tuition fee."

According to the analysis of some cotton merchants in Xinjiang who invest in Wenzhou, at present, Xinjiang cotton simply does not have the condition of being hyped, because the profits of the industry are very low now, and the domestic cotton price has basically been in line with the international standards. If there is no international hot money cooperation, it is very difficult to fry the domestic cotton prices; and the pursuit of hot money is a high return in the short term. Even if the domestic cotton prices are high, if the domestic textile enterprises can not afford to, they will not be able to take the last stick of "beating the drum and spreading flowers". Finally, the "speculators" themselves will be unlucky.