How shall enterprises use PTA futures market to avoid risks?
——Ji Feng, GM Assistant from Research center of Yisheng Corp

Mr. Ji firstly introduced the macro and industrial background, pointing out the increase of U.S. Fed interest rate, depreciation of emerging market currencies, population cycle and real estate stimulus, "Thirteenth Five-Year" economic growth target and supply-side reform in China. Moreover, he talks about the supply and demand of PTA and polyester market. For PTA, the outdated capacity elimination and new capacities delay ease oversupply pressure and market climate slowly recovers. The industrial concentration is higher and effective capacity keeps running at above 90%. For polyester, the market is rigid demand-centered and growth rate may be at about 2-6% in 2016. 

Then he pointed out the pricing mode, its advantages and risks. Lastly, he introduced about the fabric warehouse delivery from three aspects, its definition, difference between factory receipt and warehouse receipt and the advantages.