What Are Electronic Textiles?

The China (Shengze) Textile Electronic Trading Center was established by the People's Government of Shengze Town and the China Eastern Silk Market Management Committee. It was promoted by China Silk Capital. It is an online electronic market mainly engaged in textile grey fabrics and raw materials spot transactions. The market is equipped with the domestic advanced electronic trading system, which can carry out trading operations such as grey cloth spot trading and real-time spot trading of raw materials. ^[1]

China (Shengze) Textile Electronic Trading Center

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The China (Shengze) Textile Electronic Trading Center was established by the People's Government of Shengze Town and the China Eastern Silk Market Management Committee. It was promoted by China Silk Capital. It is an online electronic market mainly engaged in textile grey fabrics and raw materials spot transactions. The market is equipped with the domestic advanced electronic trading system, which can carry out trading operations such as grey cloth spot trading and real-time spot trading of raw materials. ^[1]

Innovative gray cloth spot trading and raw material real-time spot trading business launched by the Center not only enriched the textile industry's trading model, improved the sales capacity of textile production and operation enterprises, satisfied and enriched the market supply, but also promoted a group of industries with growth potential. The business is growing rapidly. ^[1]

	Traditional trade	Spot Listing
Market transaction	Participate in transactions in various tangible markets or trading hubs.	Open an account to participate in trade.
Trading partners	One to one.	One-to-many, traders come from all over the country, breaking through geographical restrictions.
Trading price	Both parties negotiate.	Concentrated auction transactions.
Trading place	Trade market.	Use the network for remote transactions.
means of transaction	Buy before you sell.	Two-way trading: you can go long or short. T + 0 trading mode.
Settlement time	Instant clear payment.	The contract has no time limit. Apply for settlement every day.
in conclusion	High trade barriers. Front store and back store need deposit, rent and staff management cost.	Low trade threshold: open an account to participate in trade, no rent and labor costs.
	High transaction costs. The cost of searching and negotiating the transaction objects, and low capital turnover.	There are many transaction objects, and buyers and sellers directly dock, reducing intermediate trade links. Warehouse receipts can be used for financing, and the same trading day can be used to enter into and transfer transactions multiple times to increase the capital turnover rate.
	Price opacity: There is information asymmetry in one-to-one bargaining.	Focus on auctions to find prices you are more satisfied with.
	High credit risk: Signing a large amount of trade does not equate to performing a contract (by being cheated or by a triangular bond).	The margin trading system is free of credit risk and triangular debt issues.
	High risk of default: the other party to price fluctuations is liable to default.	There is a complete set of risk management methods. When necessary, it can automatically transfer the chips of the same product in the next period or repurchase by our center.
	There are few trade opportunities and business opportunities are hard to find.	There are an unlimited number of traders on the exchange, and your business opportunities are unlimited. The larger the trading volume, the greater your trading volume.

China (Shengze) Textile Electronic Trading Center Fund Supervision

The buyer's payment is not directly to the seller, but temporarily deposited into an account opened by the transaction center in a third-party settlement bank. After the buyer confirms that there is no objection to the receipt, the transaction center will pay the payment to the seller. For sellers, this also avoids headaches such as buyers defaulting on payment and defaulting without authorization.

Quality Supervision of China (Shengze) Textile Electronic Trading Center

Of course, "air-to-air" trading goods cannot be "seeing is believing", and whether the quality of the products can meet the requirements has also become a concern for enterprises. In order to avoid quality disputes, China (Shengze) Textile Electronic Trading Center specially hired a national-level professional quality inspection agency as a third-party quality supervision to provide a complete set of quality inspection services. In addition, buyers can also conduct on-site inspections with electronic bill of lading. In case of disputes between the buyer and seller during the transaction, the trading center will do a good job of intermediary coordination. In the case where the negotiation cannot resolve the issue, a special arbitration institution will also come forward to deal with it.